MGM Resorts International Stock Rises on Lifted BetMGM Outlook
MGM Resorts International (MGM) shares surged over 6% in intraday trading Monday as the casino operator and London-traded firm Entain lifted their full-year outlook for their co-owned BetMGM sports betting and iGaming operator.
"BetMGM's positive momentum seen during 1Q 2025 has continued for the period 2Q 2025 to June 13, 2025, with strong Net Revenue growth across both iGaming and Online Sports, driven by handle growth," MGM and Entain said. The firms added that trading "is broadly consistent with" the 34% year-over-year revenue growth in the first quarter.
As a result, the companies now expect BetMGM's fiscal 2025 revenue of "at least $2.6 billion," up from the prior outlook range of $2.4 billion to $2.5 billion, and EBITDA of "at least $100 million," compared to "EBITDA positive" previously.
The news also lifted shares of gaming rivals Wynn Resorts (WYNN) and Las Vegas Sands (LVS) on Monday. They both were up roughly 5% in recent trading, joining MGM Resorts International among the top S&P 500 gainers.
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