Tag: sports betting

BetMGM Hits $667M in Q3 Revenue, Boosts Outlook for Full Year

BetMGM has reported $667 million in revenue for Q3 2025, reflecting a 23% year-over-year increase. The strong quarter was driven by higher engagement, enhanced product features, and steady market growth in both iGaming and online sports betting.

📈 Revenue Breakdown

  • iGaming revenue: $454 million (+21% YoY)
  • Online sports betting revenue: $202 million (+36% YoY)
  • Year-to-date revenue (Jan–Sep): $2.016 billion
  • Full-year forecast (updated): $2.75 billion+

💰 Profitability Metrics

  • Q3 EBITDA: $41 million (vs. $16M loss in Q3 2024)
  • YTD EBITDA (2025): $150 million
  • Q3 contribution profit: $132 million (+$52M YoY)
  • Full-year contribution target: >$500 million

📊 Market Share and User Base

  • Gross gaming revenue share: 15% in active U.S. markets
    • 21% in iGaming
    • 8% in online sports betting
  • Average monthly active users: 902,000 (+6% YoY)
  • iGaming monthly actives: +21% YoY

🛠 Product Enhancements Driving Growth

In Q3, BetMGM introduced new features in its online sportsbook, including:

  • Real-time stats
  • Enhanced visuals
  • Live same-game parlays
  • Expanded cashout options

These upgrades contributed to a:

  • 23% increase in handle per user
  • 49% increase in net gaming revenue per user

Exclusive iGaming content also played a major role, with branded titles tied to The Price Is Right, NFL teams, and popular slots like The Wizard of Oz and Rakin’ Bacon.

💵 Capital Strategy and Payouts

Thanks to improved cash flow, BetMGM plans to:

  • Distribute $200 million to its parent companies by the end of 2025
  • Maintain $100 million in unrestricted cash
  • Keep access to a $150 million undrawn credit facility
  • Shift to a quarterly payout model going forward

BetMGM’s Q3 performance marks a return to profitability and positions the company to surpass its earlier financial targets for the year. With increasing user engagement, strong brand partnerships, and expanding product capabilities, the operator is on track to close 2025 with record results.

Sportradar Sets Ambitious Growth Targets Through 2027

Sportradar Group AG, a major force in global sports technology, has revealed its financial growth strategy for the next few years, with bold projections extending to 2027. The Switzerland-based company, listed on NASDAQ, expects to reach at least €1.7 billion in annual revenue, alongside notable improvements in profitability and cash generation.

The company forecasts its revenue to grow at an average annual rate of 15%, fueled by its strong position in the sports betting sector. Serving more than 2,100 clients globally, Sportradar plans to capitalize on the broader expansion of the sports betting market, which is also projected to grow at a steady double-digit pace.

Profitability is a key part of the strategy. Sportradar is targeting Adjusted EBITDA of at least €455 million by 2027, marking a 27% annual growth rate. This suggests a focus not just on growing top-line revenue, but also on improving efficiency and profit margins.

One of the most significant goals is expanding the company’s EBITDA margin by 700 basis points. This indicates a strategic push to streamline operations and better leverage its broad portfolio of sports data and technology solutions.

Additionally, the company aims to increase free cash flow to €275 million by 2027, with a conversion rate of 60% or higher. This would provide greater flexibility for reinvestment and potential expansion into related markets, solidifying Sportradar’s position as a long-term industry leader.

Portugal Hits Record Online Gambling Revenue in Q4 2024, Led by Sports Betting Surge

Portugal’s online gambling market achieved record-breaking revenue in the fourth quarter of 2024, totaling €322.9 million. This represents a significant 42% increase compared to Q4 of the previous year and exceeds the previous quarterly high set in Q3 by over 21%.

Sports betting experienced a particularly remarkable quarter, with revenue jumping 90% year-on-year to reach €138.3 million, significantly surpassing the previous quarter. Although total bets placed were stable at approximately €533.7 million, football remained the top choice, capturing 75% of wagers.

Online casino also performed strongly, bringing in a record €184.6 million, a 19.5% year-on-year increase. Player spending on casino games reached €5.15 billion, mostly driven by slot games, which accounted for over 80% of total wagers.

Player engagement continues to grow, with total active online players in Portugal reaching 4.7 million, marking a 15% increase. New registrations also rose by 15%, predominantly among younger demographics, particularly those aged 18-24 and 25-34.

In terms of responsible gaming, the number of self-excluded players reached 292,400, with 16,200 new exclusions during Q4. The regulator also intensified enforcement actions, issuing 41 notices to shut down illegal gambling sites.

Meanwhile, Portugal’s land-based gambling sector showed mixed results, growing 12.5% year-on-year but slightly declining compared to Q3. Slot machines generated most of this revenue, supported by solid performances from other casino games, particularly American roulette.

Europe’s Gambling Revenue Hits €123.4 Billion in 2024, Driven by Online Growth

European gambling revenue reached €123.4 billion in 2024, marking a 5% year-on-year growth, with online channels driving most of this expansion. Online gambling grew significantly, rising 11.7% to €47.9 billion and representing nearly 39% of total gambling revenue across Europe.

Casino games were the dominant online gambling activity, bringing in €23.2 billion—nearly half of the online market. Sports betting followed closely, generating €13.7 billion in revenue.

Despite strong online growth, land-based gambling remains the largest source of revenue, accounting for 61% of Europe’s total at €75.5 billion. Within land-based gambling, lottery products led with €30.9 billion, followed by gaming machines and casinos.

Geographically, the UK was Europe’s largest gambling market, particularly online, generating substantial revenues compared to Italy, France, and Germany. Meanwhile, Italy led slightly over the UK in land-based gambling revenue.

Looking forward, Europe’s gambling market is projected to continue steady growth, reaching €127.7 billion in 2025, with online gambling expected to represent 40% of total revenues for the first time. By 2029, the market could grow further to €149.2 billion, with online revenue nearing parity with land-based gambling.