2025 marked a breakout year for BetMGM, defined by strong financial performance, product acceleration, and a renewed focus on brand identity in an increasingly competitive U.S. gaming market. With record revenues across iGaming and online sports betting, major upgrades to its app ecosystem, and the launch of its first-ever corporate brand repositioning, the company used the year to reinforce its position as a premium, full-spectrum gaming operator.
In this exclusive interview with Yogonet, Matt Prevost, Chief Revenue Officer at BetMGM, reflects on the strategies that powered the company’s momentum in 2025 — from high-value player engagement and exclusive IP-driven content to shared liquidity in online poker.
Looking ahead to 2026, Prevost outlines how BetMGM plans to capitalize on major global events, deepen the connection between digital and retail experiences, and continue leading on responsible, regulated growth as the industry enters its next phase.
Looking back at 2025, how would you assess the year for the company? What are some of the major takeaways/highlights, achievements, or lessons learned over the past year?
2025 has been a transformative year for BetMGM, marked by record-breaking growth and sustained momentum across both iGaming and sports betting. Through the third quarter, net revenue reached $2.016 billion, up 31% year-over-year.
As we reported in our Q3 earnings this past October, we achieved significant EBITDA growth for the year-to-date period, and we’re guiding now to approximately $200 million in EBITDA for the full year 2025 and at least $2.75 billion in net revenue. These upgrades reflect momentum across the business, supported by a faster and more stable BetMGM app with extended features and an enhanced user experience.
Our strategy for 2025 worked. We emphasized brand development, product innovation, improved player management, and disciplined acquisition while continuing to connect digital and retail experiences.
This year, we introduced the “Make It Legendary” campaign — our first corporate brand repositioning. “Make It Legendary” is our promise that every interaction with BetMGM delivers elevated experiences, premium hospitality, and reinforces our commitment to being a top-tier, trusted gaming operator. Adding Jon Hamm and Derek Jeter to our lineup of legendary ambassadors brought this platform to life; both superstars embody charisma, excellence, and sophistication.
I am incredibly proud of the entire BetMGM team and the time, talent, and energy they invested in making 2025 a truly standout year.
Did any particular state or vertical outperform expectations? How did player behavior evolve throughout the year, and what trends were most notable?
Our online sports betting business meaningfully outperformed expectations this year, driven by upgrades to our user experience and continued enhancements to our promotional approach. As we noted in our Q3 update, OSB net revenue grew 36% year-over-year, extending the strong momentum from the first half.
Player behavior evolved in a very positive way. Bettors increasingly engaged with higher‑value bet types like parlays, and they responded strongly to a cleaner, faster, more intuitive platform. Our sports brand moved to its rightful place as the home for premium, higher value , or ”premium mass” players.
When it comes to iGaming, we saw exceptional performance from several major IP-driven franchises. Wizard of Oz is a great example. It’s one of the most iconic films of all time and has long been a staple on casino floors. This year, BetMGM became the exclusive home of Wizard of Oz–branded games. We launched a new title every quarter, and each has been very well received.
Rakin’ Bacon is another franchise that continues to deliver outstanding results. The exclusivity periods for titles like Rakin’ Bacon, Wizard of Oz, and other well-known TV and film IP remain a powerful growth engine for BetMGM. These partnerships reinforce our “Make It Legendary” promise by giving players access to differentiated content, beloved brands, and experiences they can only find at BetMGM.
In April, BetMGM Poker added Pennsylvania to the combined player pool with New Jersey and Michigan. Shared liquidity was highly anticipated by players and has solidified BetMGM Poker as the top online poker operator in the United States.
What can we expect from the company in 2026? What are the main challenges and opportunities you see in the gaming industry in the upcoming 12-month period?
In 2026 and beyond, BetMGM will continue building the best entertainment ecosystem in the industry — one that seamlessly connects iGaming, sports betting, poker, and the magic of on-property experiences at MGM Resorts International.
The upcoming year presents several defining opportunities for the business. We are particularly interested in the impact of the World Cup, and we’re already planning how to capture the excitement of this tournament being held here in North America.
And, as the industry grows, the responsibility to lead with integrity grows with it. For legal, regulated operators like BetMGM, that means continuing to advance responsible gambling tools and education. Safe, sustainable play is essential to the health of the industry, and BetMGM is committed to embedding responsible gambling in every part of our business.
