Entain momentum holds up in strong first quarter

Finance News

Entain has reported a strong start to the year with across its major online markets in its first quarter trading report.

Online net gaming revenue was up +33% which marks Entain’s 21st consecutive quarter of double digit online NGR growth. Strong performance in all major markets with NGR growth of +44% excluding Germany. Sports NGR continued to benefit from favourable margins.

Jette Nygaard-Andersen, Entain’s CEO, commented: “This has been another very successful and productive quarter with Entain making excellent progress across a number of our strategic priorities. This is testament to the hard work and dedication of our people across all aspects of our business. I am delighted that they will now have the opportunity to share in the future success of Entain through our new Share Save plan.

We saw excellent growth across all our major markets other than Germany where regulatory changes have impacted the market.  BetMGM continues to exhibit outstanding momentum with impressive market share growth. Our acquisitions of Bet.pt and Enlabs underpin further progress on our strategic expansion into new regulated markets.

With some easing of Covid restrictions, we are delighted to be welcoming customers back into our shops. While it has only been a handful of days since the re-opening in parts of the UK on the 12 April, we look forward to returning to more normal trading across our whole business.

In line with our expectations, the momentum from the end of 2020 has carried into 2021. Although Covid creates some near-term uncertainty, by maintaining our focus on the customer, providing them with great products and services, we remain confident and excited in our long-term prospects.”