Shares of MGM Resorts International Surge on Enhanced BetMGM Projections
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MGM Resorts International (MGM) saw its stock soar more than 6% on Monday, fuelled by a bullish outlook for their co-owned BetMGM sports betting and iGaming operator. This announcement was made in collaboration with London-based firm Entain.
The duo attributed this positive momentum to strong Net Revenue growth across both iGaming and Online Sports, caused by handle growth, during the second quarter of 2025. This trend mirrors the impressive 34% year-over-year growth in the first quarter.
As a result, BetMGM now anticipates a fiscal 2025 revenue of at least $2.6 billion, significantly surpassing the earlier outlook range of $2.4 billion to $2.5 billion. The expected EBITDA has also been raised to "at least $100 million," a substantial upgrade from being "EBITDA positive" previously.
The good news sent shares of gaming rivals Wynn Resorts (WYNN) and Las Vegas Sands (LVS) soaring as well, lifting them by around 5% in recent trading. They joined MGM Resorts International in the ranks of top S&P 500 gainers.
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In the dynamic world of finance, the collaboration between MGM Resorts International (MGM) and Entain has led to BetMGM's entry into crypto and blockchain-based trading, offering sports-related tokens in their iGaming platform, mirroring the industry's secular trend towards cryptocurrencies and Initial Coin Offerings (ICOs).
This strategic move by BetMGM is expected to reignite competition among gaming giants such as Wynn Resorts (WYNN) and Las Vegas Sands (LVS), as they potentially expand their respective offerings beyond traditional gaming, following MGM's footsteps as a top S&P 500 gainer.
