BetMGM raises full year profit forecast, plans $200 million return to owners

U.S. sports betting firm BetMGM raised its annual revenue and profit forecasts on Tuesday, buoyed by stronger-than-expected demand in the third-quarter across its online sports and iGaming divisions.

BetMGM, a joint venture between Ladbrokes-owner Entain ENT and MGM Resorts MGM, also said it expects to return at least $200 million to its owner before end of 2025.