Entain’s Q3 gaming revenues rise 2%, expects a boost from the World Cup

Finance News

Entain the global sports betting, gaming and interactive entertainment group, today reports trading for the period from 1 July to 30 September 2022 (“Q3”).

Group net gaming revenue up +2%.Online NGR +1% (-2% cc1) broadly in line with expectations and demonstrating positive underlying momentum. NGR +4% (+1% cc1), excluding Netherlands (where there is a temporary enforced closure of operations due to licencing procedure. Record level of active customers in Q3, +6% YoYNGR 3-year CAGR of 11%.

Retail NGR up 10% and continuing to deliver strong trading performance, with Q3 +8% vs pre-Covid levels.BetCity (Netherlands) and SuperSport (Croatia) transactions along with creation of Entain CEE expected to complete in Q4, supporting further growth and geographic diversity

BetMGM continues to perform strongly with 25% market share where it operates (excluding New York and 23%3,4 including New York.

Jette Nygaard-Andersen, Entain’s CEO, commented: “Our business continues to perform well with good underlying momentum across the group, including in BetMGM. This illustrates the effectiveness of our growth strategy, the unique capabilities of the Entain platform, and the underlying strength of our diversified global business.

I am delighted that we have welcomed even more customers to our brands across the world. This is a testament to our relentless focus on the customer, as well as the quality of our products, content and talented people.

In the US, BetMGM continues to be the clear leader in the iGaming market, and the successful start to the NFL season also highlights the strength of our growing US sports betting offer.

We have healthy momentum across the business and look forward to a strong finish to the year which includes the World Cup.  Looking ahead, we remain vigilant of the economic backdrop. However, our diversified revenue base and robust business model enable us to remain confident in our ability to deliver on our growth and sustainability strategy.”