The company’s performance highlights a strategic shift toward operational efficiency. While average monthly active users saw a 3% decline compared to the previous year, the remaining player base proved more lucrative. Net gaming revenue per active user rose by 4%, while online sports betting revenue per active user jumped 18%. This trend aligns with management’s goal of prioritizing profitable growth over aggressive, broad-scale acquisition.
BetMGM Reports Sharp Profit Growth in Third Quarter
BetMGM posted $86 million in adjusted EBITDA for the third quarter of 2026, a 112% increase year-over-year. The joint venture between MGM Resorts and Entain generated $710 million in net revenue, bolstered by a disciplined focus on high-value player engagement and expanded exclusive gaming content across North American markets.
Product innovation played a central role in these results, particularly the launch of "Game of Thrones" titles, which the company described as its most successful franchise debut to date. In the sportsbook segment, enhancements to the platform—including improved cash-out features and smarter betting insights—helped drive performance ahead of the current NFL season. Following a successful multi-product launch in Alberta, BetMGM has reaffirmed its full-year 2026 guidance, projecting net revenue between $2.9 billion and $3.1 billion and adjusted EBITDA in the $300 million to $350 million range.
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