“Our business has truly inflected,” BetMGM CEO Adam Greenblatt said of his company’s second-quarter earnings during a 29 July investor call.
BetMGM reported US$692 million in net revenue, for a year-to-date tally of US$1.4 billion, plus US$86 million in second-quarter cash flow. Full-year cash flow was projected at US$150 million, a US$400 million improvement on 2024.
Greenblatt reported elevated online sports betting margins in the second quarter, particularly June. Igaming revenues were said to be up 29% without the benefit of any new state launches.
The CEO said the company was looking to continue improving its marketing efficiency and to pivot to premium mass-market bettors. He boosted his full-year revenue projection 28%, to US$2.7 billion.
