Operator News
UK – Entain on track for full year revenues of over $1.3bn
By Phil - 14 October 2022
Entain, the global sports betting, gaming and interactive entertainment group, today reports trading for the period from 1 July to 30 September 2022 with net gaming revenue flat, up two per cent although there was a record number of active customers, up six per cent.
The company said it was on track for full year revenues of over $1.3bn.
Online was up one per cent, broadly in line with expectations and demonstrating positive underlying momentum whilst retail was up 10 per cent and continuing to deliver strong trading performance, with up eight per cent vs pre-Covid levels
BetCity (Netherlands) and SuperSport (Croatia) transactions along with creation of Entain CEE are expected to complete in Q4, supporting further growth and geographic diversity
BetMGM continues to perform strongly with 25 per cent market share where it operates (excluding New York and 23 per cent including New York). There has been a successful start to the NFL season with Q3 NGR of just over $400m, up 90 per cent with same-state revenues up 50 per cent.
The company said it had continued leadership in iGaming with 31 per cent market share. Online sports-betting market share progressing well with particular strength (25 per cent share) in states where we were live on day one of market launch.
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.”
