BetMGM Reports Phenomenal Financial Performance in Q1, Achieving Historic Milestones
Sports betting and online gaming leader BetMGM has announced its first-quarter financial results, showcasing remarkable success in both sectors. Notably, the company achieved EBITDA-positive results for the first time, marking a significant milestone in its history.
BetMGM’s Breakthrough Quarter
Owned jointly by Entain and MGM Resorts, BetMGM’s robust growth propelled both companies’ stocks to new heights. In a groundbreaking achievement, BetMGM reported $198 million in sports betting revenue, a remarkable 68% increase year-on-year, with a betting handle exceeding $4 billion.
Additionally, the iGaming division saw a substantial 27% revenue growth to $443 million, underscoring the immense potential of online casinos. The total net revenue for Q1 reached $657 million, up by $194 million compared to the previous year, with an EBITDA of $22 million, marking the first time BetMGM has been EBITDA-positive.
Strategic Investments Pay Off
BetMGM’s strategic investments in 2024, aimed at strengthening both key segments, have laid the foundation for long-term success. The company reaffirmed its revenue and EBITDA guidance for 2025, anticipating revenue to reach $2.4-2.5 billion for the year while striving for continued EBITDA positivity.
CEO Adam Greenblatt expressed satisfaction with the results, emphasizing the promising start to the year and the ongoing execution of the revised strategic plan. Greenblatt highlighted the momentum built in the second half of 2024, with the iGaming strategy driving accelerated growth in the first quarter.
Future Outlook and Market Trends
Greenblatt reiterated BetMGM’s commitment to enhancing the sports betting division and achieving full-year positive EBITDA in 2025, backed by strong underlying activity trends. The company’s focus on delivering superior results and maintaining growth momentum reflects its dedication to market leadership and innovation.
Following the positive financial report, MGM Resorts International’s stock price surged to $32.21, reflecting investor confidence in the company’s performance. Entain also witnessed a spike in its shares, reaching GBX 591.80 before stabilizing.
As BetMGM continues to expand its presence in the gambling industry and capitalize on evolving market trends, the company’s strategic vision and operational excellence position it for sustained success in the competitive landscape.
การพนันออนไลน์ BetMGM รายงานผลประสิทธิภาพทางการเงินที่โดดเด่นในไตรมาส 1 และบรรลุเป้าหมายที่สำคัญ
บริษัทชั้นนำด้านการพนันกีฬาและเกมออนไลน์ BetMGM ได้ประกาศผลการดำเนินการทางการเงินในไตรมาสแรก โดยโชว์ความสำเร็จที่น่าทึ่งทั้งในส่วนของกีฬาและออนไลน์ มีข่าวดีว่า บริษัทได้บันทึกผลกำไรจากกิจกรรมของค่าสแตกในครั้งแรก ซึ่งเป็นการบ่งบอกถึงการบรรลุเป้าหมายที่สำคัญในประวัติศาสตร์ของบริษัท
ไตรมาสขึ้นบกของ BetMGM
โดยเป็นมรตรมรมร่กหชท่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่่