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State of Play’s TL;DR
- BetMGM reported that net revenue in Q2 was up 3% from 2025.
- Most of that can be attributed to growth in its online casino sector as its online sports betting results were disappointing.
BetMGM reported $711 million in second-quarter net revenue, up 3% year over year, as online casino growth helped offset flat online sports betting results.
The operator also reported $74 million in cash flow and said it still expects to meet prior goals, though likely toward the lower end of its stated ranges for revenue and cash flow.
BetMGM’s second-quarter results showed a familiar split between its two main online businesses. The revenue from online casino rose 8% to $483 million, while online sports betting revenue was flat at $228 million.
Sports betting hold improved year over year
The report suggests online casinos continued to provide the stronger growth engine in the quarter, while sportsbook performance was steadier. BetMGM also said handle and hold percentage posted modest increases in the period. Its hold percentage rose to 10.3% from 9.8% a year earlier.
The quarter adds another data point on the different trajectories of online casino and sports betting revenue. BetMGM’s results show casinos driving more of the growth, even as sportsbook hold improved year over year.
The company did not change its previous earnings outlook. What comes next is whether BetMGM can convert modest gains in sportsbook metrics into stronger top-line growth in future quarters while maintaining momentum in online casinos.
Based on reporting by David McKee for Complete iGaming.
