Entain Reports Increased Net Gaming Revenue in Q3

Entain, the sports-betting and gambling entertainment group, has announced a 7% increase in its net gaming revenue for the third quarter. This follows a 19% growth in the first half of 2023, bringing the total revenue to £2.40 billion ($2.92 billion). The company also stated that it expects to meet or exceed its full-year earnings and revenue targets.

Strong Performance in Online and Retail

Entain reported a 9% rise in net gaming revenue for its online business during the third quarter. Retail sites also experienced a 4% increase in revenue. These results highlight the company's ability to achieve growth across different sectors.

Strategic Plans for Future Growth

CEO Jette Nygaard-Andersen outlined Entain's updated strategic plan, focusing on key areas for organic growth. The plan includes prioritizing high-growth markets like the U.S. and Brazil, driving profitable growth in core markets such as the U.K. and Australia, and exiting smaller non-core operations.

Positive Outlook for Full-Year Results

Entain expressed confidence in meeting the upper end of its full-year total net gaming revenue guidance, which ranges from $1.88 billion to $2.00 billion. The company also expects full-year earnings before interest, taxes, depreciation, and amortization (EBITDA) to fall within the range of £1.00 billion to £1.05 billion.

Entain's commitment to improving operational leverage and increasing EBITDA margins demonstrates its dedication to sustained growth and profitability.

For more information, please visit Entain's official website.