Entain has started 2026 in line with its expectations, showing operational progress that reinforces its roadmap for the full year. The group reported a 3% increase in Net Gaming Revenue (NGR) for the first quarter, covering the period from January 1 to March 31, driven by strong business momentum and an 8% rise in volume.
The quarter’s performance was again supported by the online channel, where NGR grew by 5%. Gaming delivered particularly strong results, rising 9%, while Sports declined by 1%, impacted by a 1.3 percentage point drop in sports margins compared to the same period last year.
One of the standout areas at the start of the year was the UK and Ireland, where Entain recorded 13% online growth, exceeding expectations, while total regional revenue increased by 6%. The company attributed this to sustained commercial momentum and market share gains in both gaming and sports betting. Retail saw a more moderate decline of 1%.
Australia also stood out, with Entain returning to clearly positive territory and achieving 12% NGR growth, above expectations. Internationally, the group recorded 1% growth, with online up 2% and retail down 4%.
At the same time, the company highlighted that online volumes grew 10% year-on-year, with gains across all its main markets. This operational strength helped partially offset the negative impact of customer-friendly sports results in markets such as Brazil and Italy.
In Central and Eastern Europe (CEE), however, the quarter was weaker. NGR fell by 6%, with online down 1% and retail declining by 30%. Entain explained that the market was affected by very customer-friendly sports outcomes, particularly in Croatia, where sports margins dropped by 7.1 percentage points, in a context where football has a strong weighting in betting activity. On the positive side, Poland benefited from migration to the CEE SuperSport platform.
Regarding BetMGM, the 50/50 joint venture in the United States, the update shows a positive revenue quarter, although with a more cautious outlook for the full year. BetMGM generated net revenue of $696 million, up 6%, with iGaming growing 9% and online sports betting up 4%. Adjusted EBITDA for the quarter reached $25 million, with positive contributions from both casino and sports segments.
Despite the more cautious view on the U.S. business, Entain has reiterated its guidance for 2026. The company maintains its expectation of 5% to 7% online NGR growth at constant currency and remains comfortable with market expectations for underlying group EBITDA. It also reaffirmed its goal of generating at least £500 million in annual adjusted cash flow by 2028.
CEO Stella David stated that Entain entered 2026 with strong momentum that continued throughout the first quarter, supported by volume growth across a diversified portfolio. In her view, this performance reflects the group’s strategic execution, strengthened operations and the growth potential of a globally scaled business.
With this start, Entain presents an early-year snapshot defined by strong online performance, solid results in key markets such as the UK, Ireland and Australia, and resilience that allows it to maintain its outlook despite the headwinds from weaker sports margins.
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