Entain, formerly GVC Holdings, has published on its website the results obtained during the year 2020 from the financial point of view and from the perspective of the gender pay gap.
From the economic point of view, the group highlights that net income from online games grew by 28%, from £ 2.2 billion in 2019 to £ 2.7 billion. It also highlights that BetMGM's net gaming revenue was $ 178 million, which means an increase of 59% compared to 2019 ($ 112 million).
In this regard, JM Barry Gibson, Non-Executive Chairman, underlined: “we will continue to use our unique technology platform to build on the exceptionally strong momentum that we have in our existing markets, grow into new markets, reach new audiences, enhance the customer experience, and provide industry-leading levels of player protection ”.
While, Jette Nygaard-Andersen, CEO of Entain, said: “We believe scale, diversification and a responsible approach will enable us to continue to create sustainable shareholder value through capital and income growth”.
Entain has reported that while 2020 was a year interrupted by the Covid-19 pandemic with temporary closures and interruptions to the sports calendar, ethe good momentum in online resulted in NGR up 10% (+ 10% cc) in the second half of the year vs the prior year.
The company has explained in detail four fundamental aspects for its growth:
1. Leadership in the US: They have ambition to be the leading operator in the US through BetMGM, their joint venture with MGM Resorts. They currently have an estimated 18% market share in the states where BetMGM is active.
2. Grow Core Markets: Currently operating in more than 20 markets around the world.
3. Entering new markets: There are significant growth opportunities around the world with around $ 50bn in gross gaming revenues in over 50 regulated markets in Africa, Latin America and Central and Eastern Europe where we do not currently operate today.
4. Expand to new audiences:
New forms of technology-enabled entertainment are constantly emerging, and the company intends to be at the forefront to capture them.
When it comes to sustainability, Entain reiterates its commitment to only operate in regulated markets by 2023, to provide safe gaming environments, to have a positive impact on the communities and markets in which it operates.
Regarding the pay gap from a gender perspective, Entain assures: “Our median gender pay gap in the UK is 7.1% and our median bonus gap is 13.0%. These figures reflect our high female representation, particularly in our retail estate where 54.0% of our people are women. Our relatively low bonus gap has been driven by the delay in payment of bonus for 2019, for our people based in offices and stadia ”.
Read 2020 financial report
Read report on gender pay gap 2020
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