Latest News
BetMGM 1Q 2025 Business Update

Strong start to 2025 affirms strategic approach and confidence of positive EBITDA in 2025
BetMGM LLC , one of the leading sports betting and iGaming operators across North America, jointly owned by Entain plc and MGM Resorts International, is providing an update on its 1Q 2025 performance.
- BetMGM’s strong momentum from 2H 2024 continued during 1Q 2025, driven by its leading iGaming offering and strengthened sports product, and refined approach to player management
- 1Q Net Revenue up +34% YoY with strong growth across both iGaming (+27%) and Online Sports (+68%)
- Positive 1Q EBITDA and underlying trends reaffirm confidence that FY 2025 will be EBITDA positive1
Adam Greenblatt, Chief Executive Officer of BetMGM, commented:
“2025 is off to an encouraging start for BetMGM as we execute our revised strategic plan. The momentum we built in the second half of 2024 continued into the first quarter as we implement our powerful iGaming strategy, enabling us to grow faster than the market and at scale. In Online Sports, we are elevating our brand and delivering improved performance, even in the face of unfavorable sports outcomes during key moments in the quarter. As we approach May, we remain confident in achieving full year positive EBITDA in 2025, supported by solid underlying activity trends and our successful delivery of positive EBITDA in the first quarter.”
1Q 2025 Key Financial Highlights
1Q 2025 BetMGM Financial Summary1,2,3 | |||
Three months ended March 31 |
|||
$ millions, unless otherwise noted | 2025 | 2024 | YoY Change |
Net Revenue | |||
iGaming | $443 | $348 | +27% |
Online Sports | $194 | $116 | +68% |
Handle | $4,088 | $3,174 | +29% |
GGR Hold % | 8.2% | 8.7% | (50)bps |
NGR Hold % | 4.8% | 3.6% | +110bps |
Retail / Other | $20 | $26 | (22)% |
Total Net Revenue | $657 | $489 | +34% |
Contribution | $116 | ($38) | +$153 |
EBITDA | $22 | ($132) | +$154 |
Average Monthly Actives (thousands)4 | 1,067 | 1,009 | +6% |
Financial Highlights
- 1Q Net Revenue of $657 million, up +34% YoY, continuing acceleration with strong underlying player engagement metrics
- iGaming Net Revenue up +27% YoY driven by leading iGaming offering
- Online Sports Net Revenue up +68% YoY demonstrating strengthened product offering, expansion of NGR margin, and enhanced player engagement
- Handle up +29% YoY5
- NGR margin improvement of +110 bps YoY
- Average Monthly Actives up +6% YoY, reflecting significant growth in iGaming players, partially offset by improved OSB approach to player segmentation and management
- 1Q EBITDA of $22 million (up $154 million YoY), with iGaming Contribution of $133 million and positive Contribution from Online Sports
- 1Q EBITDA benefited from one-time accounting items offset by the impact of customer friendly sports results
- Continued stabilization of GGR market share in active markets with iGaming (22%) and Online Sports (8%), further cementing BetMGM’s podium position in the market6,7
- $150 million revolving credit facility remains undrawn
Operational highlights
- Market leading iGaming offering
- 1Q Average Monthly Actives up +43% reflecting our leading iGaming offering and focused marketing investment
- Active Player Days up +39% YoY driven by unique and exclusive content across both real-money and free-to-play engagement games8
- Improved cross-sell engagement with +13 ppt YoY increase in percent of Online Sports players playing iGaming9
- Strengthened Online Sports product coupled with focus on premium mass players and improved engagement
- Broader market range, improved pricing and enhanced parlay offering contributed to strong gains in player economics and activity metrics
- Growth of +4.8 ppt in parlay bet mix (inclusive of SGPs)10
- Bets per Active increased +28% YoY11
- Broader market range, improved pricing and enhanced parlay offering contributed to strong gains in player economics and activity metrics
- Refined approach to player retention with improved segmentation and promotional strategy
- Handle per Active up +37% YoY12
- Active Player Days up +20% YoY
Outlook
- BetMGM’s year-to-date performance provides increased confidence in exceeding guidance, however we remain mindful it is still relatively early in the year. As such, we reaffirm our expectations for FY 2025 to be EBITDA positive, and Net Revenue guidance of $2.4 billion to $2.5 billion
- Reiterated expectations of Online Sports to be Contribution positive for FY 2025
- Reaffirmed confidence in BetMGM’s pathway to $500 million EBITDA in the coming years
Latest News
Brightstar Lottery’s VP of Global Lottery Marketing, Michelle Carney to be Inducted into Lottery Industry Hall of Fame

International Game Technology PLC, doing business as Brightstar Lottery (Brightstar), announced that Michelle Carney, Brightstar’s Vice President of Global Lottery Marketing, will be inducted into the Lottery Industry Hall of Fame as a member of the Class of 2025. The induction ceremony will take place this September at an industry event in Ontario, Canada hosted by the Public Gaming Research Institute (PGRI) in conjunction with the North American Association of State and Provincial Lotteries (NASPL).
“Michelle is an incredible asset to Brightstar, its partners and customers, and the entire lottery industry. Over the course of her highly accomplished 25-year career, she has successfully cultivated strategic partnerships, contributed to Brightstar’s global lottery leadership, and championed innovation to drive the evolution of lottery forward. Michelle is a shining reflection of what our new brand represents: an optimistic source of inspiration and innovation for lottery. All of us at Brightstar congratulate Michelle on her well-deserved induction into the Lottery Industry Hall of Fame,” said Vince Sadusky, CEO of Brightstar.
“It is a great honor to be inducted to Lottery Industry Hall of Fame and stand alongside all of the lottery professionals who contributed so much to our industry, many of whom inspired and supported me over the years. I am grateful for the privilege to collaborate with my colleagues at Brightstar and in the industry around the globe and look forward to continue working together to drive the success of lottery and contributions to good causes,” said Carney.
In her current role, Carney is responsible for the development of marketing and communications strategies that support growth for Brightstar’s Global Lottery business, including lottery product marketing, trade shows and events, thought leadership communications, and B2C marketing campaign materials to support customer launches of new game content. She also manages Brightstar’s relationships with industry associations such as the World Lottery Association (WLA), European Lotteries (EL) and NASPL. Under Carney’s strategic planning and guidance, Brightstar is positioned as the industry leader at all trade shows, conferences and events, including customer visits and RFI/RFP presentations.
A recent industry highlight was Carney’s leadership of the development and implementation plan to deliver a $5 Mega Millions game in April 2025, on behalf of the Mega Millions Consortium. She developed an inclusive technical, operational, and retail execution strategy that provided the framework for a successful project delivery of all key milestones across 11 subcommittees comprising lottery and vendor employees. Her comprehensive oversight and leadership ensured that 47 U.S. lotteries and all vendor partners experienced a successful game launch. In earlier years, Michelle collaborated with MUSL and Mega Millions working groups on other multi-jurisdictional game rollouts including Cross-Sell, $2 Powerball, and Cash 4 Life.
The Lottery Industry Hall of Fame was founded by PGRI in 2005 as a means of honoring those who have done the most to make the lottery industry the great success that it is today. Membership is reserved for lottery professionals who have promoted excellence and integrity throughout their careers.
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EDGE Boost Named Preferred Payment Method for World Series of Poker Event Series

EDGE Boost by EDGE Markets, a financial platform for smart bettors and gamblers, has partnered with World Series of Poker, the premier series of worldwide poker tournaments. The EDGE Boost debit card is now the preferred payment method for WSOP, offering ease of payment, safety, and several exclusive on-site perks for tournament players.
In past tournaments, WSOP players were limited to $10,000 per transaction and had to complete a lengthy approval process, often resulting in frequent cash deposits. Now, those using the EDGE Boost card through PayPal checkout can bypass traditional credit card verification. They can also make entries up to $250,000, which eliminates the need to carry large sums of cash at the event and increases security measures.
“Poker players competing at WSOP events typically face many roadblocks funding their entry at the casino and managing any payout. In the past, players had to bring multiple checks from different accounts which complicated the deposit process and led to security issues of players walking around with large cash rewards. EDGE Boost simplifies this entire process and makes it entirely digital. Now these players can focus on their game without worrying about these extra factors. This partnership lays the groundwork for the future of gaming,” said Seni Thomas, CEO and Founder of EDGE Markets.
This focus complements player safety and strengthens WSOP’s appeal as an attractive event for poker players globally.
“EDGE Boost is going to completely transform the WSOP experience. This partnership immediately enhances our brand and player experience through tangible benefits that make them feel safe and supported. Together, we are setting a new standard for how the rest of the gambling industry should operate. We also hope this improvement attracts more players to our events because of the frictionless financial process made possible by EDGE Boost, leading to a safer and easier-to-use system for all involved,” said Greg Chochon, Chief Operating Officer at WSOP.
“EDGE Boost gives players what we’ve needed for years – seamless access to our money, without hassle or judgment,” said Lexy Gavin-Mather, Professional Poker Player and Coach.
EDGE Boost is also sponsoring an exclusive lounge at the WSOP in Las Vegas through July 11. It offers EDGE Boost cardholders a private space with refreshments, Wi-Fi, and autograph sessions from poker champions like 17-time WSOP Bracelet Winner Phil Hellmuth and WSOP Main Event Champion Jamie Gold.
“EDGE Boost is more than a card; it’s a tech revolution for gaming. Instant access, ironclad security, and flawless control – all designed to let you play your game,” Hellmuth said.
“If you’re still traveling with cash, wiring money, or dealing with silly limits you’re way behind. EDGE Boost is a literal game changer! It’s a Visa debit card built for serious players who want control over their bankrolls. It saves me so much time and keeps me safe! No brainer to sign up ASAP,” Gold said.
Canada
AGCO Fines Great Canadian Casino Resort Toronto $350,000 for Serious Regulatory Violations Linked to Impromptu After-Party on Gaming Floor

The Alcohol and Gaming Commission of Ontario (AGCO) has issued monetary penalties totaling $350,000 against Great Canadian Casino Resort Toronto for multiple violations of provincial gaming standards. The penalties follow an impromptu after-party that was permitted to take place in the pre-dawn hours directly on the casino’s gaming floor.
On September 27, 2024, an electronic dance music event attended by thousands of people was hosted in the theatre adjacent to the casino at Great Canadian Casino Resort Toronto. The event was marked by widespread intoxication, disorderly behavior, and numerous criminal and medical incidents – both inside and outside the venue – including alleged assaults, drug overdoses, and acts of public indecency. Although paid duty officers were present, additional police and emergency services were required to manage the situation.
In the midst of this high-risk environment, casino management approved an unscheduled request by the performing artist to host an after-party on the active gaming floor. The artist and more than 400 guests were permitted onto the gaming floor where the artist was allowed to perform amidst operational table games and gaming machines – without any prior risk assessment or planning.
As a result, security personnel were unable to effectively control the casino floor, including witness reports that an attendee was seen climbing onto slot machines. Failure to maintain appropriate control compromises the security, safety, and integrity of the casino floor. Following the conclusion of the event, the operator failed to promptly report these incidents to the AGCO as required.
Based on the findings of its review, the AGCO’s Registrar has issued an Order of Monetary Penalty (OMP) totaling $350,000 against Great Canadian Casino Resort Toronto. These penalties address critical failures in their operations, incident reporting, employee training, and the management of disturbances.
A gaming operator served with an OMP has 15 days to appeal the Registrar’s decision to the Licence Appeal Tribunal (LAT), an adjudicative tribunal that is part of Tribunals Ontario and independent of the AGCO.
“Casino operators have a fundamental duty to control their gaming environment. Great Canadian Casino Resort Toronto’s lapses in this incident compromised the safety of patrons and the security and integrity of the gaming floor,” Dr. Karin Schnarr, Chief Executive Officer and Registrar of AGCO, said.
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