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BetMGM's stronger than expected year-to-date performance provides increased confidence for the balance of 2025. Scroll down for all the latest headlines from the world of gambling and sports as well as our top trending stories and searches.
Highlights included:
- Q3 performance ahead of expectations, with strong year-to-date momentum continuing across both Online Sports and iGaming
Net Revenue of $667 million, up +23% YoY - iGaming Net Revenue up +21% YoY and Online Sports Net Revenue up +36% YoY
- EBITDA of $41 million, up +$57 million YoY
- Ongoing successful execution of BetMGM's refined player engagement strategy supported by further enhanced product and user experiences delivered growth in player activity and retention
Increased FY25 guidance to Net Revenue of at least $2.75 billion and EBITDA of approximately $200 million - BetMGM expects to distribute at least $200 million to parents before end of 2025
Adam Greenblatt, Chief Executive Officer of BetMGM, commented:
"BetMGM's momentum from H1 continued into Q3, underpinned by the ongoing execution of our strategic plan. The execution in operations we have described this year – improved marketing efficiency, player management, brand positioning, and product and platform improvements – all contributed to our strong revenue growth and material cash flow increase from both sides of the business. Strong underlying metrics and margin outperformance during July and August support our confidence in raising guidance for full year 2025. Furthermore, we have reached yet another inflection point in our journey, returning operating cash flow back to Entain and MGM Resorts. My previous statements that BetMGM is healthier than it has ever been still ring loudly, and our stronger than expected performance through Q3 positions us well for the rest of the year and into 2026."
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(Sweepstakes Casinos, Poker) - ClubWPT Gold Vows to Stay in California Despite Sweepstakes Ban Signed Into Law - Assembly Bill 831, a measure aimed at banning online sweepstakes gambling — including sweepstakes-based poker - was signed into law by Governor Gavin Newsom over the weekend. One company is vowing to stay put however.
- ClubWPT Gold. The site, which counts high-profile players such as Doug Polk among its ambassadors, recently switched from the dual-currency model used by the majority of sweepstakes operators to a new, apparently unique system.
- Following ClubWPT Gold’s acquisition of the training platform Upswing Poker — previously owned by Polk — it has positioned itself as a more educational proposition. Users can still play for and with ‘chips’, which can be withdrawn as real currency, but instead of offering them with purchases of play money they come as packages with automated hand analysis credits. Read more about ClubWPT Gold's switch here.
- ‘We are aware of the new California legislation scheduled to take effect on January 1, 2026,’ reads a statement from ClubWPT Gold on its website. ‘In preparation, our team has been proactively making updates to the platform and developing new features to align with the upcoming legislative change. We are committed to continuing to operate in compliance with California law.’
- The new legislation comes into effect on January 1, 2026.
(source: Poker.org)
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(Gambling News) - Iowa Casino Revenue Remains Fat Year-Over-Year in September - Iowa’s 19 casinos reported $131.7 million in revenue for September, slightly up from the previous year’s figure of $131.3 million, a year-over-year increase of 0.2%. Ameristar II saw profits reduce 13.3% year-over-year from $14.1 million to $12.2 million, and Harrah’s Council Bluffs Casino saw a year-over-year decrease of 12.8% from $5.2 million to $4.5 million. Three casinos saw double-digit gains, with Q Casino seeing the most significant increase of 19.5% from $3.3 million to just less than $4 million, and Lakeside Casino generating $4.4 million, up 19.2% from $3.7 million the year prior. Overall slot revenue generated $119.5 million, up 1.1% year-over-year from $118.3 million. Table games generated $12.1 million, down 7>5% from $13.1 million.
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(Gambling News) - Two Guardians Pitchers Denied by Dominican Winter League amid MLB’s Gambling Probe - In a revealing development that signals the far-reaching consequences of MLB’s ongoing gambling investigation, Emmanuel Clase and Luis Ortiz have been rejected by Dominican Winter League officials despite being fully prepared to suit up for Estrellas Orientales, the team located in Ortiz’s hometown of San Pedro de Macoris. While the decision officially came from Dominican baseball authorities, the timing raises questions about Major League Baseball’s influence behind the scenes. (source: Cleveland.com)
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(Cryptocurrencies) - Alleged 'Trump Insider Whale' Denies Insider Trading, Opens New $340 Million Bitcoin Short - A whale that earned close to $200 million by shorting Bitcoin and Ethereum prior to Trump’s tariff announcement on Friday—which helped lead to a record $19 billion in crypto liquidations—has deposited $40 million in USDC to perpetuals trading platform and decentralized exchange Hyperliquid on Monday morning, according to data from Hyperliquid block explorer HypurrScan.
- The person behind the Ethereum wallet address ending in “7283ae” denies having any connection to the First Family.
- Following the trader's Monday deposit, the account began building a 10x short position in Bitcoin valued around $340 million. In other words.
- Based on 7283ae’s entry price of $116,009, the account has already amassed more than $700,000 in unrealized profits.
- The entire position will be liquidated, wiping out the principal and gains, if Bitcoin reaches a new all-time high of $130,460.
- Chris Costigan, Gambling911.com Publisher
