Entain plc Reports Strategic and Operational Progress; Q3 Performance Ahead of Expectations

Key Highlights:

• Total Group Net Gaming Revenue (NGR): including a 50% share of BetMGM, increased by 8%, 10% in constant currency, and 7% on a pro forma basis.
• Online Growth Continues: Q3 Online NGR (excluding US) exceeded expectations, up 10%, 12% in constant currency, and 9% on a pro forma basis.
• UK & Ireland returned to year-on-year growth sooner than expected.
• All key markets delivered growth in Q3.
• Encouraging Start for BetMGM in H2: Q3 NGR increased approximately 18% year-on-year, with market share stabilizing.
• FY24 Guidance Upgraded: The stronger-than-expected Q3 performance has led to increased confidence for the remainder of the year.
• Mid single-digit pro forma constant currency growth in Online NGR is now expected (previously low single digits).
• Group EBITDA is now expected to be towards the top end of the £1,040m - £1,090m guidance range.

Gavin Isaacs, CEO of Entain, stated: “My first few weeks as CEO of Entain have reaffirmed my view that this is a very good business operating in a highly attractive global industry. Entain has great brands, an enviably diverse global portfolio, and is bursting with talent, ambition, and opportunities. Entain is already on a path of strategic and operational improvement, with the strong Q3 performance demonstrating the progress achieved so far. We are at the beginning of the journey and I’m looking forward to accelerating our progress, leading the business in our next growth chapter, and capturing the many exciting opportunities ahead.”


As a result of stronger-than-expected Q3 performance and increased confidence for the balance of the year, FY24 Online pro forma NGR growth is now expected to be mid-single-digit positive on a constant currency basis. As such, FY24 Group EBITDA is expected to be towards the top end of our £1,040m - £1,090m guidance range. READ OFFICIAL PRESS RELEASE