By The Weekly Edge desk · · Updated
BetMGM recorded Q3 2026 net revenue of $710m, up 7% year-on-year, Online Poker Report reported. Adjusted EBITDA increased 112% to $86m. The operator said it remained on course for the lower end of its annual guidance.
BetMGM’s revenue and adjusted EBITDA increased as the operator maintained expectations for the lower end of annual guidance.
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MGM's late licensing application drew a $50,250 penalty, while CountR agreed a $50,000 settlement over licensing violations.
The agreements impose payments on MGM Resorts International and CountR for licensing breaches in Pennsylvania.
MGM’s $50,250 penalty highlights the financial consequences of a late principal licensing application.
BetMGM’s retreat signals reduced focus on states without iGaming as prediction markets affect its business.
Greenblatt expects prediction markets’ addressable market to contract before the Supreme Court hearing, while reporting BetMGM handle growth.
BetMGM's iGaming revenue exceeded its online sports betting revenue, giving investors a comparison of the operator's two businesses.