Oct 13 (Reuters) - US online gambling operator BetMGM on Tuesday reported a 7% rise in third-quarter revenue,driven by strong betting during the World Cup and a revamped sportsbook ahead of the NFL season.
• Shares of Ladbrokes-owner Entain rose 4% after the update from BetMGM, a joint venture between Entain and US-based MGM Resorts
• BetMGM reiterated its 2026 guidance, expecting net revenue toward the lower end of its $2.9 billion to $3.1 billion range and adjusted EBITDA toward the lower end of its $300 million to $350 million range
• The company reported net revenue of $710 million for the three months ended September 30, up from $667 million a year earlier.
• BetMGM said it was confident in reaching $500 million in adjusted EBITDA in the coming years
• LicensedUS sportsbook operators face growing pressure from prediction market platforms such as Kalshi, and BetMGM rivals FanDuel, DraftKings and Fanatics have launched similar prediction market products
(Reporting by Anushka Chourasia in Bengaluru; Editing by Jochelle Mendonca)
