Entain’s net gaming revenue surges on robust demand

Finance News

Entain PLC said Tuesday that it has made a strong start to 2023, with increased net gaming revenue and record levels of active customers.

The Ladbrokes owner said first-quarter group net gaming revenue was up 15%, or 11% on constant currency. Including the 50% share of BetMGM, first-quarter group net gaming revenue was up 17% on constant currency.

Online net gaming revenue for the first quarter was up 16%, or 11% on constant currency, in line with expectations.

Active customers in the quarter rose 19% on year, or 14% on a pro-forma basis.

BetMGM 1Q net gaming revenue was around $470 million, up 76% and in line with guidance of $1.8 billion-$2.0 billion for 2023.