Entain posts online gaming revenue ahead of expectation

Finance News

Entain saw its UK in-store and online net gaming revenue (NGR) fall in recent months, amid tighter regulatory requirements. 

The group saw its NGR across the UK and Ireland fall by 7 per cent in the first three months of the year. 

Entain said ‘regulatory implementation’ affected its latest figures. In April last year, the Government published its gambling white paper, introducing a statutory levy and stake limits on certain types of betting. 

Across all its operations, including its 50 per cent stake in BetMGM, Entain’s NGRs were ahead by 6 per cent at constant currencies by the end of the period. 

International NGR rose 8 per cent, amid an ‘encouraging’ return to ‘good’ growth in Brazil. NGR in Croatia and Poland continued to perform well, rising by 130 per cent, the group said.

BetMGM saw NGR rise 2 per cent year-on-year, with a 14 per cent market share in sports betting and iGaming in the markets where it operates. 

Stella David, Entain’s interim chief executive, said: ‘Our Q1 performance was in line with our expectations, with growth reflecting both strong performances in many of our markets as well as known challenges in others. 

‘We are particularly encouraged by the level of customer engagement in the US following a successful Super Bowl and March Madness, as well as our return to growth in Brazil following the changes we implemented.

‘Overall, we are pleased with the progress being made against our plan to accelerate Entain’s operational performance. There is still more to do, but the team is fully engaged in delivering operational improvements, product enhancements, as well as greater organisational agility and efficiency.’

She added: ‘We remain confident that our continued focused execution will drive organic growth into 2025 and beyond.’