The second quarter brought in $711 million of net revenue to BetMGM, up 3% year-over-year.
BetMGM experienced an 8% spike in igaming revenues, according to figures released on July 28. However, online sports betting was flat for the quarter. Igaming brought in $483 million, compared to OSB’s $228 million. Cash flow was $74 million.
Although BetMGM stood by previous earnings guidance, it cautioned investors that it was likely to come in at the lower end of stated ranges for revenue and cash flow.
The second quarter saw modest increases in handle and hold percentage. That latter went to 10.3%, up from 9.8% last year.
