DAVY VIEW

BetMGM has this morning upgraded its FY25 revenue guidance by at least 6% and now expects to generate aEBITDA of at least $100m. The statement notes that the growth is coming from both sports betting and iCasino and that the revenue run rate in Q2 is similar to Q1. This is an encouraging update, particularly in the context of more visibility of an inflection into profitability. Speaking to the company, it noted that the better performance has been driven by a wide range of product improvements and that this has also facilitated more efficient generosity spend.