Entain shares rise as BetMGM jv backs guidance after strong quarter

Entain PLC's joint venture BetMGM LLC on Tuesday reiterated full-year guidance after a "strong" third quarter.

In response, shares in Isle of Man-based sports betting and gaming operator Entain, which also owns the Ladbrokes and Coral brands, rose 4.2% to 445.90 pence each in London on Tuesday. They have fallen 46% in the last 12 months.

New Jersey-based sports betting and online gaming firm BetMGM is a joint venture between MGM Resorts International and Entain.

On Tuesday, it said it remains on track to deliver towards the lower end of net revenue of USD2.9 billion to USD3.1 billion and adjusted earnings before interest, tax, depreciation and amortisation of USD300 million to USD350 million guidance ranges.

In 2025, BetMGM reported net revenue of USD2.80 billion and Ebitda of USD220 million.

In its third quarter, BetMGM said net revenue rose 6.4% to USD710 million from USD667 million and adjusted Ebitda more than doubled to USD86 million from USD41 million.

Online Sports sales grew 6.9% and iGaming revenue by 6.4%. Average monthly actives fell 3 on-year, as expected, it added.

BetMGM said the strong year-to-date performance supports confidence in accelerating profitability in the fourth quarter.

It remains confident in delivering adjusted Ebitda of USD500 million in the "coming years".

BetMGM Chief Executive Adam Greenblatt said: "BetMGM delivered a strong Q3 as we continue to execute with discipline and generate profitable growth. Our product is stronger than it's ever been, with significant improvements to speed, stability, and responsiveness ahead of this football season."

Entain will report third quarter results on Thursday. In September, it said its continues to expect underlying earnings before interest, tax, depreciation and amortisation of £910 million to £960 million in 2026 and an online underlying Ebitda margin of 21% to 22%, although it now expects both to be towards the lower end of their respective ranges. The Ebitda result would be down from £1.16 billion in 2025.

The update followed news that Brazil was introducing an immediate provisional ban on online sports betting and gaming.

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