Entain lowers BetMGM revenue view amid punter friendly sports results

(Alliance News) - Entain PLC on Tuesday cut its sales outlook for BetMGM and said it expects full-year adjusted earnings at the 50%-owned US joint venture to be towards the lower end of expectations.

The Isle of Man-based sports betting and gaming operator which owns Ladbrokes and Coral expects full year adjusted earnings before interest, tax, depreciation and amortisation at BetMGM to be towards the lower end of the USD300 to USD350 million range.

Net revenue is now expected to be between USD2.9 billion to USD3.1 billion, down from USD3.1 billion and USD3.2 billion before.

In 2025, BetMGM reported Ebitda of USD220 million and net revenue of USD2.80 billion.

Despite this, shares in Entain rose 1.4% at 551.60 pence each in London on Tuesday, although they sit well below the highs of above 1,000p seen last August.

In the first quarter of 2026, Entain said BetMGM revenue totalled USD696 million, up 6% on-year, with Ebitda of USD25 million, up 11% on-year.

The results reflect "robust" iGaming growth alongside "softer online sports growth including player friendly sports results."

Online sports net revenue rose 4% on-year, with iGaming sales up 9%.

"Our iGaming business is growing at scale, and our Online Sports business continues to strengthen despite a challenging market in Q1," commented Adam Greenblatt, BetMGM chief executive.

Nonetheless, Greenblatt remains confident of delivering on "our updated 2026 guidance as well as continue on the path to USD500 million of adjusted Ebitda in 2027."

Entain is due to release a group trading statement on Thursday.

By Jeremy Cutler, Alliance News reporter

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