BetMGM, the U.S. sports betting and iGaming joint venture of Entain and MGM Resorts, will begin distributing cash to its parent companies this year following a strong third-quarter performance.
The company said it expects to return at least $200 million in 2025, marking a key milestone for the operator.
The move follows a third quarter that beat expectations, with net revenue rising 23% to $667 million, according to the company.
As a result, BetMGM raised its full-year 2025 guidance, now expecting net revenue of at least $2.75 billion and earnings before interest, taxes, depreciation, and amortization of approximately $200 million.
"We are delighted that BetMGM is achieving sustainable profitable growth and expects to begin distributing cash to parents later this year," Entain CEO Stella David said in a statement.
Separately, Entain announced Monday it has launched a bond offering of at least 800 million euros to refinance existing debt.
The Ladbrokes-owner said the proceeds would be used to extend its debt profile and reduce interest costs.
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BetMGM, the U.S. joint venture of Entain and MGM Resorts, will begin distributing cash to its parent companies this year after a strong third-quarter performance.
BetMGM said Tuesday it will distribute at least $200 million to its parent companies this year, a key milestone for the joint venture, after its third-quarter performance beat expectations.