Bill Hornbuckle Bets Big on BetMGM’s $2.5 Billion Future
At the J.P. Morgan Gaming, Lodging, Restaurant and Leisure Management Access Forum, MGM Resorts International CEO Bill Hornbuckle laid out an ambitious roadmap for BetMGM, the company’s sports betting and iGaming arm. With a projected $2.5 billion in revenue on the horizon, Hornbuckle painted a picture of a leaner, smarter operation ready to capitalize on product innovation and untapped markets.
A Revenue Rocket Ready to Launch
Hornbuckle didn’t mince words about BetMGM’s potential. “I think you’ll see our BetMGM business hit $2,500,000,000 give or take,” he declared, signaling a bold leap from its current trajectory.
This isn’t just wishful thinking, Hornbuckle credits a shift away from splashy, mass-market ads toward a laser focus on the product itself. With BetMGM now a household name across 28 sports betting states, the days of burning cash on awareness campaigns, like a $13 million Super Bowl ad he admitted “probably in retrospect wasn’t the greatest idea”—are over.
Instead, the emphasis is on delivering a platform that keeps users hooked and spending.
The Winning Playbook
What’s driving this growth? Hornbuckle highlighted a trio of upgrades. First, product enhancements like single-game parlays and live betting are juicing engagement, backed by a recent investment in Angstrom, a London-based analytics firm sharpening BetMGM’s odds.
“Our single game parlay cards, our live card… it’s as a percentage of our business has continued to increase like double digit every quarter,” he noted.
Second, the platform’s speed has doubled, halting a slide in market share. Third, a unique “single wallet” system in Nevada lets players shuttle funds between online bets and MGM’s brick-and-mortar casinos, a perk no rival can match.
“We’re the only one that has it here… I can come here and take my money home and continue in Colorado or any one of these other states that allow this,” Hornbuckle explained.
Efficiency is another ace up BetMGM’s sleeve. Hornbuckle targets a 70% flow-through rate, a nod to lessons learned from past marketing missteps. The result? A business that’s not just growing but profiting smarter.
New Markets, New Money
Expansion is on the horizon, with New York’s iGaming launch “just around the corner this year,” per Hornbuckle. Maryland, Illinois, and Alberta are also in the pipeline, promising fresh revenue streams.
Stateside, BetMGM’s premium customers, treated like VIPs with dedicated hosts and Super Bowl perks, are a loyalty goldmine. “We host at BetMGM, just like you host any one of our brick-and-mortar casinos… We had a whole contingent come out for the Super Bowl that were just from BetMGM,” he said.
Meanwhile, the integration of Push Gaming’s products, now licensed in the US, adds another layer of appeal.
Holding Ground in a Crowded Field
Hornbuckle didn’t name-drop rivals like FanDuel or DraftKings, but his tone was clear: BetMGM’s bleeding days are done. “I don’t think I know we’ve stopped losing share,” he asserted, pointing to “a lot of green shoots” in early 2025 data.
February and March numbers, he hinted, are trending up, bolstered by a platform that’s faster and more intuitive than ever. The focus on margins, aiming for 11% to 13% on high-value bets, shows BetMGM isn’t just chasing volume; it’s chasing profit.
For MGM, BetMGM is a cornerstone of its digital future. Hornbuckle’s vision ties it to Las Vegas’ physical dominance, where a $300 million MGM Grand renovation and tech-driven “front desk of the future” keep the flagship humming.. If Hornbuckle’s $2.5 billion bet pays off, it’ll mean bigger payouts for shareholders and a louder voice in the US betting wars.
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