"BetMGM's first-quarter net revenue reached $696 million, up 6% from the same period a year ago, while adjusted EBITDA rose 11% to $25 million, indicating continued profitability despite a slowdown in growth."
"Online sports revenue rose to $203 million in the quarter, a 4% increase, which is significantly lower than the growth rates seen through 2025, where gains were as high as 68% in Q1."
"The company pointed to 'player friendly sports results' and heavier promotional activity as reasons for the softer sports performance, alongside a deliberate shift toward tighter player management."
"Average monthly active users fell 9% from a year earlier to 975,000, with a sharper decline of 16% in online sports, indicating a strategic focus on improving returns from existing customers."
In Q1 2026, BetMGM reported net revenue of $696 million, a 6% increase from the previous year, with adjusted EBITDA rising 11% to $25 million. Despite profitability, growth rates have slowed compared to 2025. Online sports revenue increased by 4% to $203 million, significantly lower than previous year's growth rates. iGaming revenue rose 9% to $481 million, trailing behind 2025's 24% growth. The company noted a decline in average monthly active users by 9%, with a sharper 16% drop in online sports users, indicating a focus on fewer, more valuable customers amidst a changing revenue outlook.
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