Operator News
UK – Entain’s betting shops back to within 10 per cent of pre-COVID levels
By Phil - 24 January 2022
Entain, the global sports-betting and gaming entertainment group, reported ‘strong FY21 performance with Group net gaming revenue up seven per cent year on year‘ for the financial year to 31 December 2021.
Online NGR was up 12 per cent, demonstrating ‘consistent ability of the operating model to deliver diversified and sustainable growth.’
There was strong growth in all major markets with FY21 Online NGR up 18 per cent excluding Germany, where the new regulatory regime is impacting the market. Online growth continues to be actives driven, with actives up 25 per cent year on year
Retail was down three per cent, reflecting more Covid-19 restrictions than the prior year with the BetMGM joint venture up 14 per cent.
With most shops open for the full period, Q4 NGR in Retail was up 60 per cent year on year with volumes returning to within 10 per cent of pre-Covid levels
FY21 Group EBITDA is expected to be in the range of £875m to £885m, ahead of previous expectations
Jette Nygaard-Andersen, Entain’s CEO, commented: “2021 has been a successful and eventful period for Entain, and our market-leading platform has driven another year of strong, sustainable and diversified growth. All of our major markets have performed well. BetMGM, our hugely exciting business in the US, has been a particular highlight with FY21 net gaming revenue ahead of expectations and an upgraded outlook for 2022.
“We have also made significant operational progress and have continued to provide our customers with even better content, experiences and excitement as the worlds of media, entertainment, technology and gaming converge,” she added. “As ever, our sustainability efforts have been at the core of everything that we do. We have continued to lead the way in the critically important area of player protection, and our technology-based Advanced Responsibility and Care programme is progressing well.”
“We continue to see significant growth opportunities ahead of us, with a total addressable market of around $160bn across our new and existing markets, as well as in emerging areas of interactive entertainment. We believe these opportunities will enable us to at least treble the size of our business. As a result, we remain confident in our prospects for the year ahead and beyond.”
