By The Weekly Edge desk · · Updated
BetMGM's iGaming revenue grew 6% to $483m, reported by Online Poker Report. The outlet also reported a 7% increase in online sports betting revenue to $216m.
BetMGM's iGaming revenue exceeded its online sports betting revenue, giving investors a comparison of the operator's two businesses.
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Kalshi’s sponsorships expand MLB prediction market partnerships, with four new partners playing in states that prohibit sports betting.
The partnerships give the tribes customer-facing apps while Kalshi operates the underlying exchange and settles transactions.
Four additional tribal agreements give tribes app ownership and customer management while Kalshi supplies exchange services.
The agreements give Kalshi advertising exposure and fan engagement opportunities across five MLB teams.
JPMorgan’s estimate gives investors potential additional EBITDA from Genius Sports’ agreements with Kalshi and Polymarket.
BetMGM’s revenue and adjusted EBITDA increased as the operator maintained expectations for the lower end of annual guidance.