Entain expects full-year profits to come in at the top end of guidance as strong growth in online gambling continues to offset a decline in bricks-and-mortar trade.

The Ladbrokes owner’s net online gaming revenues exceeded expectations in the three months to 30 September, growing 12 per cent on a constant currency basis when excluding the US.

Entain, which has been expanding in the US via its BetMGM joint venture, saw online sales expand across all regions, with the UK and Ireland returning to growth sooner than forecast.

However, retail revenues slipped 4 per cent across the region while in-store sales in all markets were flat year-on-year.

Nevertheless, Entain told investors it now expects 2024 earnings before nasties to come in ‘towards the top’ of a £1.04billion to £1.09billion guidance range.

Chief executive Gavin Isaacs, who joined the group just over a month ago, said: ‘Entain is already on a path of strategic and operational improvement, with the strong Q3 performance demonstrating the progress achieved so far.

‘We are at the beginning of the journey and I’m looking forward to accelerating our progress, leading the business in our next growth chapter and capturing the many exciting opportunities ahead.’