UK – Entain produces best ever fourth quarter of online revenues with retail up ten per centBy Phil - 3 February 2023
Entain generated its best ever fourth quarter online revenues for the period from 1 October to 31 December 2022, with overall revenues up 11 per cent
Record Q4 Online NGR was up 12 per cent year on year, reflecting a successful men’s World Cup, partly offset by weather disruptions to sporting fixtures. Entain experienced continued growth in active customers in Q4, also at record levels, up 14 per cent versus the prior year. Fourth quarter retail NGR was up 10 per cent with UK volumes driven by strong growth in gaming and betting terminals
Full year revenues were up 15 per cent with online actually down one per cent reflecting strong Covid comparators and the absorption of regulatory changes, particularly in the UK and Germany. For the year as a whole retail revenues were up 66 per cent with volumes ahead of pre-Covid levels, market share gains and a broadening customer base. BetMGM’s full year revenues were up to $1.44bn up 71 per cent year on year, ahead of expectations.
“2022 has been another year of strong financial, operational and strategic progress for Entain,” said Jette Nygaard-Andersen, Entain’s CEO. “We have continued to grow our revenues in a sustainable and diversified way by expanding our global footprint, broadening our customer appeal, entering new areas of entertainment, and providing a safe environment for our customers. All of this has led to a record number of active customers in Q4, as well as a full year EBITDA performance ahead of our previous expectations. We have started 2023 with good momentum across the business and remain confident in our ability to continue delivering on our growth and sustainability strategy in the year ahead.”
Entain completed the SuperSport acquisition in Croatia in November 2022, driving further growth and geographic diversity. It also completed the BetCity acquisition in January 2023 securing access to the attractive and fast-growing Netherlands market.
BetMGM’s ongoing success, including recent launches in Maryland, Ohio and Massachusetts, product and functionality developments as well as sportsbook app redesign, continue to be underpinned by the Entain Platform’s unique operational excellence. It launched UNIKRN in esports betting and skill-based wagering; with soft launches in Brazil and Canada with further launches planned for 2023.