Entain, BetMGM Co-Owner, Posts 5% Net Gaming Revenue Growth in H1 2026

Entain, the UK-based gambling giant that co-owns BetMGM alongside MGM Resorts, reported a 5% year-over-year rise in net gaming revenue for the first half of 2026, reaching £2.5 billion (roughly US$3.4 billion). The growth was driven almost entirely by the company’s online business, which posted a 7% increase in net gaming revenue on the back of a 9% jump in betting and gaming volume.

The results, released on August 13, mark Entain’s ninth consecutive quarter of online growth, a streak the company has leaned on as it works through a period of rising regulatory costs in its home market. Group EBITDA came in at £479 million, down 2% year-over-year, but that figure still beat market expectations of roughly £455 million, according to Reuters.

UK and Australia Lead the Charge

Entain’s online performance was strongest in the UK and Ireland, which are reported jointly, and in Australia, where online net gaming revenue rose 13% year-over-year in both markets. New Zealand posted the biggest standout number of the half, with online revenue surging 21%. Spain also saw a notable turnaround, with the company’s Bwin brand growing profits by 28% during the period.

On a broader basis, Entain’s international net gaming revenue grew 3% to 4% year-over-year overall, a more modest pace than the UK and Australia but still positive across a wide geographic footprint that includes brands like Ladbrokes, Coral, and PartyPoker. Executives credited the company’s World Cup marketing push earlier in the year with helping drive engagement and new customer volume across several markets.

UK Tax Hikes Squeeze the Bottom Line

Despite the top-line growth, Entain’s profitability took a hit from the UK’s increased online gambling tax, which took effect in the second quarter and cost the company an estimated £56 million in EBITDA. That headwind explains most of the gap between strong revenue growth and a slight year-over-year decline in EBITDA. The company said its mitigating actions to offset the tax increase remain on track heading into the back half of the year.

Entain also reported a group loss after tax of £11.4 million, an improvement of £74 million compared to the same period last year, largely due to favorable movements in financial instruments and foreign exchange. The board declared an interim dividend of 10.3 pence per share, up 5% year-over-year.

BetMGM Holds Steady

BetMGM, the 50-50 joint venture between Entain and MGM Resorts that operates as one of the top online sportsbooks and casinos in the US, generated $6.7 million in parent fee revenue for Entain during the half — the first time such fees have been paid since the joint venture reached sustainable profitability. BetMGM itself posted H1 net revenue of $1.4 billion, up 4% year-over-year, with iGaming net revenue growing 8% to $964 million. The operator reconfirmed its full-year 2026 guidance of $2.9 billion to $3.1 billion in revenue and $300 million to $350 million in adjusted EBITDA, though it expects to land toward the lower end of both ranges. Bettors weighing where to place their next wager can compare current offers through the BetMGM Promo Code page for the latest sign-up terms.

Entain shares rose more than 1% following the announcement, though the stock remains near the lower end of its 52-week trading range. Investors appeared reassured by the company holding its full-year EBITDA guidance steady despite the tax pressure in the UK.

What It Means for the Broader Market

Entain’s results add to a growing body of evidence that online sports betting and iGaming volumes continue to climb globally even as individual markets tighten tax policy or regulatory scrutiny. The company’s ability to grow online revenue by 7% while absorbing a multimillion-pound tax increase suggests underlying demand for its products remains resilient. For US bettors, BetMGM’s steady performance within that larger portfolio reinforces its position as one of the more established platforms competing for market share alongside DraftKings, FanDuel, and Caesars. Anyone comparing the major operators can find current terms on the BetMGM Sportsbook Review before deciding where to sign up.