JPMorgan profit reaches $15.3 billion but earnings fall short of forecasts
Goldman Sachs, Citigroup and Wells Fargo also reported higher profits, while the banks cautioned about interest rates and inflation.
BetMGM holds annual guidance as quarterly revenue increases 7%
The gambling operator posted $710 million in third-quarter net revenue, while joint venture partner Entain's shares gained 4% after the update.
BetMGM kept its 2026 financial outlook intact on October 13 as the US online gambling company reported $710 million in third-quarter net revenue. That was a 7% increase, helped by World Cup betting and changes to its sportsbook before the NFL season.
The company's revenue forecast remains $2.9 billion to $3.1 billion for 2026, with adjusted EBITDA projected at $300 million to $350 million. BetMGM expects both measures to finish near the bottom of those ranges. It also expressed confidence that adjusted EBITDA could reach $500 million in coming years.
The quarterly figures cover the period ending September 30; net revenue in the comparable year-earlier period was $667 million. BetMGM's joint venture owners are MGM Resorts and Entain. Shares of Entain, which owns Ladbrokes, rose 4% following the announcement.
Prediction-market platforms, including Kalshi, are putting more pressure on licensed US sportsbooks. Rival operators FanDuel, DraftKings and Fanatics have each launched their own prediction-market offerings.