Who Owns BetMGM?
BetMGM is a 50/50 joint venture between MGM Resorts International (NYSE: MGM) and Entain plc. Launched in 2018, it operates the BetMGM online sportsbook and iGaming platform, reporting $2.8 billion of fiscal 2025 net revenue and $220 million of EBITDA, with first cash distributions to parents beginning that year.
Parent Company
Acquired
2018
Status
Publicly Traded
Headquarters
BetMGM Timeline
Who Owns BetMGM?
- Parent Company: MGM Resorts International
- Ownership Type: Subsidiary
- Acquisition Year: 2018
- Company Type: Publicly Traded
- Stock Ticker: NYSE: MGM
| Brand | Parent Company | Ownership Type |
|---|---|---|
| BetMGM | MGM Resorts International | Subsidiary |
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History of BetMGM
- Founded: 2018
- Founders: MGM Resorts International (JV partner), Entain (JV partner)
- Acquired by MGM Resorts International: 2018
The venture launched in July 2018, shortly after the U.S. Supreme Court's PASPA decision opened legal sports betting, combining MGM's brand and casino reach with Entain's technology. It initially operated as playMGM before rebranding to BetMGM.
The first years burned cash aggressively: customer acquisition costs, market entry, and promotional wars produced large losses while BetMGM scaled to become one of the three largest U.S. online operators. Fiscal 2025 marked the profitability inflection, with net revenue up 33% to $2.8 billion, EBITDA positive at $220 million, and guidance for further growth toward a $500 million EBITDA target by 2027.
About MGM Resorts International
Is MGM Resorts publicly traded?
Yes. MGM Resorts International trades on the NYSE under ticker MGM. Founder Kirk Kerkorian's estate has fully exited, leaving dispersed institutional ownership.
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What casinos does MGM own?
On the Las Vegas Strip: Bellagio, MGM Grand, Mandalay Bay, The Cosmopolitan, Aria, Luxor, Excalibur, New York-New York, and Park MGM. Regionally it owns Borgata, MGM Grand Detroit, Beau Rivage, and others, plus MGM Macau and MGM Cotai in China.
Does MGM own BetMGM?
BetMGM is a 50/50 joint venture between MGM Resorts and Entain. It turned profitable in 2025 with $2.8 billion of net revenue and began distributing cash to both parents.
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Is MGM building a casino in Japan?
Yes. MGM broke ground on MGM Osaka, Japan's first integrated resort, with partners including Orix. It is expected to be the largest integrated resort in the world when completed.
- Founded: 1986
- Headquarters: Las Vegas, Nevada, USA
- Company Type: Publicly Traded
- Stock: NYSE: MGM
- Revenue: $17.5 billion (FY2025)
- Employees: ~69,000
Where Is BetMGM Made / Based?
- Headquarters: Jersey City, New Jersey, USA
- Manufacturing / Operations: United States
BetMGM Categories & Tags
BetMGM Recalls & Controversies
Standard industry scrutiny applies: state regulator fines for self-exclusion and advertising compliance violations in several jurisdictions, periodic responsible gaming reviews, and the sector-wide debate over promotional intensity. No brand-defining scandal is on record.
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Brands Owned by MGM Resorts International
BetMGM Ownership: Pros & Cons
Advantages
- +Crossed into profitability in 2025
- +Strong iGaming position in its strongest category
- +MGM Rewards omnichannel differentiation
- +First cash distributions to parents
- +Clear path to $500 million EBITDA target
Considerations
- -Split economics between two parents
- -Behind FanDuel and DraftKings in sportsbook
- -Promotional intensity pressures margins
- -Regulatory compliance costs rising
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Frequently Asked Questions About BetMGM
Sources & Further Reading
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Competitors to BetMGM
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Draftkings | United States | 2012 | Mass market | United states | All Genders |
Learn More About Competitors
Competitive Analysis
Market Positioning: BetMGM competes with 1 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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Independent Alternatives to BetMGM
Looking for brands with different ownership structures? These similar brands are not owned by MGM Resorts International, giving you alternative choices that support different corporate structures.
Travel HospitalityHarborside Resort at Atlantis
Owned by Kerzner International Holdings Limited
Villa-style accommodation complex at Atlantis Paradise Island featuring residential-style layouts, full kitchens, and family-friendly amenities across the marina from the main resort.
villa-resortfamily-accommodationmarina-location
Privately Owned
Harborside Resort at Atlantis is privately owned, unlike BetMGM which is under a publicly traded parent company.
Travel HospitalityThe Beach Tower
Owned by Kerzner International Holdings Limited
Former hotel tower at Atlantis Paradise Island that was closed in 2021 and acquired by Pharrell Williams for redevelopment into Somewhere Else hotel.
hotel-towerresort-accommodationbahamas
Privately Owned
The Beach Tower is privately owned, unlike BetMGM which is under a publicly traded parent company.
Travel HospitalityThe Royal Towers
Owned by Kerzner International Holdings Limited
Iconic hotel towers at Atlantis Paradise Island featuring 1,201 rooms and suites, the Bridge Suite, and direct access to Aquaventure water park and marine habitats. Renovated in 2024 as part of a $150 million resort-wide transformation.
luxury-hotelresort-accommodationbahamas
Privately Owned
The Royal Towers is privately owned, unlike BetMGM which is under a publicly traded parent company.
Travel HospitalityAquaventure Waterpark
Owned by Kerzner International Holdings Limited
141-acre water park at Atlantis Paradise Island in the Bahamas, featuring high-speed slides, river rides, and marine habitat experiences, operated by Brookfield Asset Management.
water-parkresort-attractionbahamas
Privately Owned
Aquaventure Waterpark is privately owned, unlike BetMGM which is under a publicly traded parent company.
Travel HospitalityAtlantis Resorts
Owned by Kerzner International Holdings Limited
Luxury integrated resort brand operating properties in the Bahamas, Dubai, and China under two separate ownership structures, with new resorts announced for the Maldives and Saudi Arabia.
luxury-resortsintegrated-resortshospitality
Privately Owned
Atlantis Resorts is privately owned, unlike BetMGM which is under a publicly traded parent company.
Travel HospitalityDolphin Cay
Owned by Kerzner International Holdings Limited
14-acre marine habitat and conservation center at Atlantis Paradise Island offering dolphin encounters and marine education programs.
marine-habitatdolphin-encounterconservation
Privately Owned
Dolphin Cay is privately owned, unlike BetMGM which is under a publicly traded parent company.
MGM Resorts International Stock Information
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Jobs at MGM Resorts International
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