BetMGM posts $86 million quarterly profit measure while its player base shrinks
On 13 October 2026 BetMGM reported third-quarter net revenue of $710 million, up 7%, and adjusted EBITDA of $86 million, up from $41 million a year earlier. Average monthly actives fell 3% to 878,000, and full-year guidance was repeated, now towards the lower end of its ranges.
BetMGM does not operate in South Africa, so these numbers do not change anything for local players directly. They are useful context because they show where big operators are putting effort: fewer, more valuable customers and a strong lean on online casino. That is the same commercial pressure that sits behind many of the bonuses and VIP schemes offshore casinos use to attract South African players, so it is worth keeping a sceptical eye on promotions.
The headline figures
BetMGM, the US venture owned equally by MGM Resorts International and Entain, published a business update on 13 October 2026 covering the third quarter. Net revenue was $710 million, up 7% on the same quarter last year. Adjusted EBITDA, a profit measure the company defines itself, rose 112% to $86 million from $41 million.
Online casino revenue was $483 million, up 6%, and online sports revenue was $216 million, up 7%. Sports betting handle, the total amount staked, rose 3% to $3.24 billion.
Fewer players, more from each
Average monthly actives, meaning players who placed at least one bet in a month, fell 3% to 878,000. BetMGM described this as expected and said it reflected refined player acquisition and management. Casino actives were a bright spot, up 2%, and casino net revenue per active player was up 4%. In sports, net revenue per active was up 18%.
In plain terms, the company is spending less to attract broad audiences and more on keeping valuable players. Those are the company's own figures and its own explanation, and the release is a company statement rather than audited accounts, as it says in its notes.
Guidance and cash to the parents
BetMGM repeated its 2026 targets of $2.9 billion to $3.1 billion in net revenue and $300 million to $350 million in adjusted EBITDA, and said it expects to land towards the lower end of both. It sent $68 million of cash to its parent companies in the quarter, made up of $18 million in fees and a $50 million distribution. It also reported a 14% share of gross gaming revenue across the markets where it is active, including 20% in online casino.
Product news included a new Game of Thrones slot range, which the company called its most successful game franchise launch, and a multi-product launch in Alberta, Canada.
What it means for South African players
This is investor news from a market South Africans cannot use. The takeaway is about incentives. Operators that make more money from each player have a reason to build loyalty tiers, personalised offers and exclusive games. For a South African player using an offshore casino, the sensible habit is the same: read bonus terms, set a budget before you play, and remember that casino games are built so the house has the edge over time.
Our casino reviews show what we have verified about each site. Accepting South African players does not mean a casino is licensed in South Africa.
What to watch next
Entain was due to report its own third-quarter results on 15 October 2026, and MGM Resorts International reports on 28 October 2026. Those will show how the two parents view the venture.