BetMGM Strengthens Its Position in the iGaming Market and Forecasts Positive EBITDA by 2025

BetMGM, a joint venture between MGM Resorts International and Entain, has released its financial results for 2024, showcasing revenue growth and optimistic EBITDA forecasts. The operator reported a net income of $2.1 billion, a 7% increase compared to the previous year. This growth was driven by a 14% rise in the average number of active monthly players, attributed to strategic investments in user acquisition.
Revenue from iGaming reached $1.5 billion, marking a 13% increase year-over-year, while online sports betting revenue grew by 4%. The company’s leadership anticipates achieving positive EBITDA by the end of 2025, with projected revenues between $2.4 billion and $2.5 billion.
In 2024, BetMGM solidified its position as a leader in the iGaming market, maintaining a gross gaming revenue share of 14% in active regions. The company expanded its product offerings by launching sports betting in North Carolina and Washington, and introduced exclusive slot machines, including a record jackpot payout of $6.5 million to a lucky winner in New Jersey.
Recently, BetMGM became a co-founder of the Responsible Online Gaming Association (ROGA) and launched its first advertising campaign featuring NHL star Connor McDavid, emphasizing its commitment to safe and transparent gaming products.
BetMGM CEO Adam Greenblatt highlighted the successful investments made in 2024 and expressed confidence in continued growth. He stated, “With the renewed acceleration of our activities in the iGaming and online sports segments, we expect to achieve positive EBITDA in 2025. This forecast is supported by our strong position in the world’s largest gaming market.”
It’s worth noting that a BetMGM user recently won the largest jackpot in U.S. iGaming history.