Strong Q3 with disciplined execution continuing to drive profitable growth

JERSEY CITY, N.J., Oct. 13, 2026 /PRNewswire/ -- BetMGM LLC ("BetMGM"), a leading sports betting and iGaming operator across North America, jointly owned by MGM Resorts International (NYSE: MGM) ("MGM Resorts") and Entain plc (LSE: ENT) ("Entain"), is today providing an update on its Q3 2026 performance.

- Strong Q3 performance reflects disciplined execution supported by new exclusive gaming content and enhanced sportsbook offering

- Net Revenue of $710 million, up +7% YoY

- iGaming Net Revenue of $483 million (+6% YoY) and Online Sports Net Revenue of $216 million (+7% YoY)

- Adjusted EBITDA of $86 million, up +112% YoY

- Strong player engagement through Q3 including successful World Cup, driving continued growth in revenue and player values

- Successful multi-product launch in Alberta with per player metrics trending above Ontario launch

- BetMGM reiterates its FY 2026 guidance and remains on track to deliver towards the lower end of Net Revenue ($2.9-$3.1 billion) and Adjusted EBITDA ($300-$350 million) guidance ranges

Adam Greenblatt, Chief Executive Officer of BetMGM, commented:

"BetMGM delivered a strong Q3 as we continue to execute with discipline and generate profitable growth. Our product is stronger than it's ever been, with significant improvements to speed, stability, and responsiveness ahead of this football season. We have continued to prioritize our areas of strength – particularly our iGaming franchise – and remain operationally nimble as we navigate a highly competitive environment. Our underlying player fundamentals remain strong, and we are generating positive cash flow and Adjusted EBITDA. These put us on track to deliver against our 2026 guidance and support our confidence in the long-term outlook of our business."

Key Financial Highlights

Financial Highlights1

- Q3 Net Revenue of $710 million, up +7% YoY

- iGaming Net Revenue up +6% YoY with player engagement momentum underpinned by the strength of our iGaming offering

- Online Sports Net Revenue up +7% YoY, with strong World Cup engagement and our enhanced sportsbook launched ahead of NFL season

- Average Monthly Actives down (3)% YoY, as expected, reflecting refined player acquisition and management5

- Q3 Adjusted EBITDA of $86 million (year-to-date $185 million) with profitable growth continuing

- Q3 iGaming Contribution $135+ million and Online Sports Contribution positive

- Total cash to parents of $68 million for Q3 consisting of $18 million of Parent Fees and $50 million of cash distributed to Entain and MGM Resorts6,7

- Podium position with 14% GGR market share in active markets, including iGaming (20%) and Online Sports (8%)8,9

Operational Highlights

- Best in class iGaming, leveraging our iconic brand heritage and product excellence

- Leading iGaming offering and ongoing player management continue to drive revenue growth and attractive player economics

- Q3 NGR per Active +4% YoY10

- Q3 Average Monthly Actives +2%5

- BetMGM's premium and exclusive content continues to provide players with exciting and differentiated experiences

- Launch of new Game of Thrones titles across the U.S., Ontario, and Alberta was BetMGM's most successful game franchise launch ever

- Successful refresh of Borgata brand with Average Daily Actives +28% vs prior levels11

- Release of innovative new features, including progressive SideBet jackpot in Michigan and West Virginia and live-streamed slots experience in New Jersey and Pennsylvania

- Focused approach to Online Sports continuing to deliver healthy player-level KPIs

- Targeted player acquisition and "premium mass" player engagement continue to drive growth and support healthy underlying KPIs

- Q3 Handle per Active +13% YoY10

- Q3 NGR per Active +18% YoY10

- Ahead of NFL season, sportsbook product enhancements, included expanded cash-out and bet-tracking capabilities, smarter betting insights, more ways to build customizable bets, and an improved rewards hub

- Ongoing marketing efficiency across OSB-only states delivering attractive FTDs, favorable ROIs and encouraging football season reactivation metrics

- Growing success in leveraging BetMGM's unique Nevada advantage, with Q3 Nevada OSB handle +8% YoY12

Outlook

- Strong year-to-date performance supports our confidence in accelerating profitability in Q4

- BetMGM reiterates its FY26 guidance and remains on track to deliver towards the lower end of the guidance ranges:

- Net Revenue of $2.9-$3.1 billion

- Adjusted EBITDA of $300-$350 million

- BetMGM is well positioned to deliver sustainable long-term profitable growth driven by strategic focus and disciplined execution

- BetMGM remains confident in delivering Adjusted EBITDA of $500 million in the coming years

Q3 2026 Results Audio Webcast and Q&A

- An audio webcast call will be held today, Tuesday, October 13, 2026 at 9:00am EST (2:00pm UK), with participants able to join via webcast

- Live audio webcast registration link: BetMGM Q3 2026 Audio Webcast

- The call will include a 30-minute Q&A session for analysts and investors

- Those wishing to ask a question should use the dial ins below and register via the following link: Investor Registration for Q&A

US Toll free + 1 883 461 5787

US + 1 585 542 9983

UK Toll free +44 808 196 8935

UK +44 117 389 0104

International dial-in numbers: Conference ID 479 569 785

Supplementary financial disclosures

BetMGM has updated its financial disclosure practices, aiming to provide investors with more comprehensive and transparent information regarding its financial position and operations. These enhanced disclosures will include a more granular breakdown across different segments to provide greater insight into performance drivers.

Forward-looking statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve substantial risks and/or uncertainties, including those described in the MGM Resorts International public filings with the Securities and Exchange Commission. BetMGM has based forward-looking statements on management's current expectations, assumptions and projections about future events and trends. Examples of these statements include, but are not limited to, BetMGM's expectations regarding its financial outlook (including forecasted net revenues from operations, EBITDA, and expected distributions to Entain and MGM Resorts), projected market share position, its expected growth in new and existing jurisdictions, product capabilities, and achievement of key milestones. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Included among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements are: the significant competition within the gaming and entertainment industry; BetMGM's ability to execute on its business plan; changes in applicable laws or regulations, particularly with respect to iGaming and online sports betting; BetMGM's ability to manage growth and access the capital needed to support its growth plans; and BetMGM's ability to obtain the required licenses, permits and other approvals necessary to grow in existing and new jurisdictions. In providing forward-looking statements, BetMGM is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If BetMGM updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.

Non-GAAP Financial Information

In this press release we provide certain financial measures, including Net Revenue from operations, Contribution, EBITDA and Adjusted EBITDA, which have not been prepared in accordance with GAAP. BetMGM believes these measures, which it uses for its own analysis of operations, are useful to supplement the results presented in accordance with GAAP. These non-GAAP financial measures, which may not be comparable to other similarly titled measures presented by other companies, should not be considered a substitute for, or superior to, the financial information prepared in accordance with GAAP. BetMGM defines Net Revenue from operations as revenue, adjusted to reflect revenue related to certain operations on a gross basis, primarily related to the Company's Nevada digital and retail sports betting operations. If BetMGM presented Net Revenue from operations in accordance with GAAP, then BetMGM would present the revenues associated with its Nevada digital and retail sports betting operations differently, until such time as BetMGM is licensed as a Nevada gaming operator. Currently under GAAP, its calculation of Net Revenue would be on a basis net of operating costs, such that the GAAP reported Net Revenue would be lower than the Net Revenue reported herein, with net income remaining the same. We define EBITDA as net income (loss) before the impact of interest income or expense (net), income tax provision or benefit, and depreciation and amortization and Adjusted EBITDA is further adjusted to add back the Parent Fees. We define Contribution as Net Revenue, less cost of revenue (exclusive of depreciation and amortization) and marketing acquisition spend.

About BetMGM

BetMGM is a market leading sports betting and gaming entertainment company, pioneering the online gaming industry.