SPORTS BETTING
UK – Entain enjoys 21st consecutive quarter of double digit online NGR growth
By Phil - 15 April 2021
Entain, the global sports-betting and gaming entertainment group, has heralded a ‘strong first quarter online, continuing the momentum seen at the end of 2020, in line with expectations,’ in its latest quarterly financials.
Online net gaming revenue was up 33 per cent, marking Entain’s 21st consecutive quarter of double digit online NGR growth. It highlighted ‘strong performance in all major markets with NGR growth of 44 per cent excluding Germany.’
Sports NGR continued to benefit from favourable margins whilst retail remained ‘significantly impacted by Covid restrictions with shops almost all entirely closed for the quarter.’
During the quarter Entain completed acquisitions of Bet.pt in Portugal and Enlabs AB in the Baltics, underpinning further progress of Entain’s strategic expansion into new regulated markets.
Its partnership with BetMGM continues to demonstrate strong momentum with an overall market share where BetMGM operates of 19 per cent.
Jette Nygaard-Andersen, Entain’s CEO, said:“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,” she added. “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.”
