Adds annual forecast in paragraph 4
July 29 (Reuters) - U.S. sports-betting service BetMGM, a joint venture between Entain ENT.L and MGM Resorts MGM.N, has raised its full-year 2025 revenue and core earnings forecast after posting a 35% rise in first-half revenue, helped by strong demand in online sports betting and its iGaming division.
Growth in player volumes and engagement helped lift iGaming revenue by 28% in the first half, Entain said.
Founded in 2018, BetMGM has been expanding its digital footprint to tap into the fast-growing U.S. e-betting market amid stiff competition.
BetMGM now expects revenue of at least $2.7 billion and core earnings of at least $150 million in fiscal year 2025, Entain said.
It had earlier forecast revenue of at least $2.6 billion, and earnings before interest, taxes, depreciation, and amortization of at least $100 million.
(Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Mrigank Dhaniwala)
((Aatrayee.Chatterjee@thomsonreuters.com;))
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