Photo Credit: Adam McCullough / Shutterstock
American online casino and sportsbook operator BetMGM has hailed its ‘successful’ launch into the regulated iGaming market of Alberta and revealed its combined third-quarter net gaming revenues had increased by 7% year-on-year to top $710 million.
BetMGM revealed its BetMGM.ca domain went live in Alberta from July 13 offering local punters a wide range of online casino, sports wagering and live-dealer poker entertainment. The operator jointly owned by MGM Resorts International and Entain also stated this site’s per-player third-quarter metrics had trended ‘above’ its Ontario equivalent, which has been running since the summer of 2022.
As part of a trading update, BetMGM disclosed its third-quarter net gaming revenues from iGaming swelled by 6% year-on-year to $483 million while its associated online sports wagering proceeds grew by 7% to $216 million. The firm furthermore recorded $11 million in retail takings for the three months to the end of September as allied adjusted earnings before interest, tax, depreciation and amortization improved by 112% to $86 million.
BetMGM proclaimed the World Cup, which was co-hosted by Canada, Mexico and the United States in June and July, had stimulated ‘strong player engagement’ through the third quarter of the year and drove continued revenues and player value growth. The operator moreover divulged it remains on track to deliver $2.9 billion to $3.1 billion in net revenues for the whole of 2026 alongside associated adjusted earnings before interest, tax, depreciation and amortization of $300 to $350 million.
BetMGM Chief Executive Officer Adam Greenblatt said his company had delivered a ‘strong’ third quarter and intends to ‘continue to execute with discipline and generate profitable growth’. The former investment banker additionally pronounced he is confident in his firm’s long-term outlook as its offering is ‘stronger than it’s ever been’ owing to improvements in stability, responsiveness and strength.
“We have continued to prioritize our areas of strength, particularly our iGaming franchise, and remain operationally nimble as we navigate a highly competitive environment,” said Greenblatt.
BetMGM revealed it earned 20% of the third-quarter gross iGaming revenues generated by the markets in which it operated alongside some 8% of the online sportsbook takings. However, the operator stated average monthly active user rates had dropped by 3% year-on-year owing to refined player management and acquisition although takings per active punter swelled by 4%.
To further emphasize the positive mood, BetMGM described the premiere of its Game of Thrones titles across the iGaming markets of Alberta, Ontario and the United States as ‘the most successful game franchise launch ever’. The operator also highlighted the recent debut of several new online casino features including the progressive SideBet jackpots being offered to aficionados in West Virginia and Michigan alongside fresh live-streamed slots for punters in Pennsylvania and New Jersey.
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