Petersburg Casino Tops $105 Million in Eight Months
Alex Harper • Oct 12, 2026 
In the BetMGM Q3 2026 results, strong online casino play and a sharper sportsbook pushed profit up fast. Quarterly adjusted EBITDA hit $86 million, a 112% gain, while revenue reached $710 million, 7% above last year. However, management still sees full-year numbers landing near the floor of its forecast.
BetMGM’s owners, MGM and Entain, published the update on October 13, 2026. Below, CasinoUS unpacks the quarter’s key drivers, the forecast math and the impact on US players.
BetMGM Q3 2026 Results at a Glance
| Metric | This quarter | Year earlier | Change |
| Net revenue | $710M | $667M | +7% |
| iGaming revenue | $483M | $454M | +6% |
| Online sports revenue | $216M | $202M | +7% |
| Adjusted EBITDA | $86M | $41M | +112% |
| Average monthly active players | 878,000 | 902,000 | -3% |
Adjusted EBITDA shows profit before taxes, interest, depreciation and the fees BetMGM pays its owners. In simple terms, it shows what the business earns from daily operations. As a result, a 112% jump means BetMGM now keeps far more of each revenue dollar.
Total active players fell 3%, as BetMGM expected, though active casino players grew 2%. Revenue still grew because each player was worth more.
Online Casino Games Carry the Business
iGaming, meaning real-money online casino games, made up roughly two-thirds of revenue. That segment brought in $483 million, up 6%. Also, the average casino player was worth 4% more.
BetMGM said its Game of Thrones slot series beat every previous game franchise it has launched. Branded releases like these show how much exclusive online slots matter to casino operators.
Where it operates, BetMGM also takes about one-fifth of online casino revenue. Its sportsbook share is just 8%.
Notably, only a small group of states allow real-money online casinos, so each legal market carries real weight. For example, New Jersey’s iGaming rules have allowed online casino play since 2013.
Sportsbook Upgrades Start to Pay Off
The sportsbook earned 7% more than last year, bringing its total to $216 million. Handle, the total amount players wagered, grew 3% year over year. Meanwhile, BetMGM’s gross hold climbed from 10.1% to 10.7%.
Hold is the share of each wager the sportsbook keeps after paying winners. Because of this, a small rise in hold can lift revenue even when betting volume barely moves.
BetMGM credited app upgrades that went live ahead of football season. Upgrades include wider cash-out options, easier bet tracking, more custom bet choices and a refreshed rewards hub. For bettors, the BetMGM Sportsbook app now gives more control over open bets.
Can BetMGM Still Hit Its 2026 Targets?
Alongside the BetMGM Q3 2026 results, the company left its revenue forecast intact. Its floor is $2.9 billion, with $200 million of headroom above.
Its adjusted EBITDA target, with a $300 million floor and a $350 million ceiling, also stayed in place. That said, BetMGM sees itself finishing near the floor of each range.
| Metric | 2026 low-end target | First nine months | Needed in Q4 |
| Net revenue | $2.9B | $2.116B | About $784M |
| Adjusted EBITDA | $300M | $185M | About $115M |
To reach the low end, Q4 needs about 10% more revenue than Q3. Q4 also needs roughly 34% more adjusted EBITDA than Q3’s $86 million. Fortunately for BetMGM, Q4 includes peak NFL weeks and the holiday season.
Additionally, the two parent companies received a combined $68 million from the venture during Q3. Longer term, BetMGM still aims to earn $500 million a year in adjusted EBITDA.
Prediction Markets Stay Off the Table
Notably, the BetMGM Q3 2026 results said nothing about prediction markets. Some rivals are pouring money into sports event contracts, but BetMGM is sitting out. The silence fits MGM’s decision to drop its prediction markets plan, which its CEO explained at G2E 2026.
Early signs suggest the traditional sportsbook model still works. In Nevada, where courts have blocked sports event contracts, BetMGM took 8% more in online wagers. Still, US gambling laws treat these contracts differently by state, so the debate is far from settled.
What the BetMGM Q3 2026 Results Mean for US Players
Overall, the BetMGM Q3 2026 results show an operator with cash to invest in games and features. For BetMGM players, that likely means more exclusive branded slots and further sportsbook upgrades.
Even so, strong earnings do not make one app the right fit for everyone. Before you sign up, compare the top US sportsbooks on odds, bonuses and payout speed.
Finally, remember that operator revenue comes from player losses. Set deposit and time limits before you play, and use responsible gambling tools if betting stops feeling fun.
