The joint venture guided toward the low end of its full-year ranges due to competitive pressures and softer consumer spending.
BetMGM reported second-quarter revenue of $711 million, up 3% year over year, driven by iGaming growth despite weakness in sports betting and retail. Adjusted EBITDA reached $74 million for the quarter and $99 million for the first half of 2026.
First-half revenue totaled $1.4 billion, a 4% increase from the prior year, while adjusted EBITDA less capital expenditures hit $77 million. The company maintained its full-year guidance of $2.9 billion to $3.1 billion in revenue and $300 million to $350 million in adjusted EBITDA but expects results near the lower end.
Management cited heightened competition from regulated operators and prediction-market platforms, along with broader consumer discretionary spending pressures, as key challenges. Higher gas prices and macroeconomic factors were also noted as headwinds.