Numbers are underpinned by Entain’s industry leading platform with global reach
Entain plc (LSE: ENT), the global sports-betting and gaming entertainment group, today reports trading for the period from 1 July to 30 September 2021 (“Q3”), ahead of a live webcast today Tuesday 12 October 2021 at 9:00am (BST), open to participants, to highlight a strong Q3 performance with Group net gaming revenue (“NGR”) up 4% (+6% cc1) against a period of high growth in the prior year. Online NGR +10% cc1, marking a 23rd consecutive quarter of double-digit growth in constant currency.
Excluding Germany, online NGR was up +18 %cc1, delivering a strong performance, particularly in Australia and Brazil. Retail NGR was +1%cc1, with UK volumes recovering toward pre-Covid-19 levels, and activity steadily rebuilding in Europe.
BetMGM continues to deliver strong growth, with a 23%3 market share across the US in sports-betting and iGaming for the three months to August, also, 26%3 share in sports-betting and iGaming in the markets in which BetMGM operates, making it the clear iGaming market leader with 32%3 market share.
Industry data for month of August shows BetMGM challenging for #1 market position across sports-betting and iGaming, going live in 16 jurisdictions, with recent launches in Arizona, Wyoming and South Dakota on first day of state licencing, and successful start to the NFL season with the launch of a national advertising campaign featuring Jamie Foxx.
Entain shows continued progress on ESG initiatives under Sustainability Charter, where ARC (“Advanced Responsibility & Care”) programme continues to make good progress, expanding trials into real time customer interaction across UK brands, and adding that The Entain Foundation renewed its commitment to Pitching-In Trident Leagues and SportsAid partnerships.
Also, the Entain Foundation U.S. funded pioneering research with University of Nevada in Las Vegas (“UNLV”) and launched a new app to support the American Gaming Association’s (“AGA”) Responsible Gaming Initiative.
FY2021 Group EBITDA is expected to be in line with previous guidance of £850m – £900m, an uplift from strong Q3 trading performance offset by the previously announced impact of the licencing process in the Netherlands.
Jette Nygaard-Andersen, Entain’s CEO, commented: “These results demonstrate Entain’s continuing ability to deliver sustainable, consistent and diversified growth. Our powerful Entain platform provides customers with great products and experiences, which enables us to grow ahead of our markets as demonstrated by 23 consecutive quarters of double-digit online growth.
“We continue to lead our industry in the all-important area of player protection, and I am excited by the early results of our innovative ARC programme, which we firmly believe has the potential to transform player protection across the industry. As we announced on 12 August, our total addressable market is expected to more than triple to over $160bn. This will be driven by the significant opportunity in the US, where we are now challenging for the number one market position, our growth plans in other new and existing markets, and our strategy of entering into new areas of interactive entertainment. By offering customers ever more engaging products, while leveraging our scale and technology, we will drive the flywheel effects of secular growth dynamics that can triple the size of our business. As a result, we remain very confident in Entain’s future prospects.”
Entain plc (LSE: ENT) is a FTSE100 company and is one of the world’s largest sports-betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports Brands include bwin, Bet.pt, Coral, Crystalbet, Eurobet, Ladbrokes, Neds and Sportingbet; Gaming Brands include CasinoClub, Foxy Bingo, Gala, Gioco Digitale, Ninja Casino, Optibet, partypoker and PartyCasino. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis.
The Group has a joint-venture with MGM Resorts International creating a leader, BetMGM, in sportsbetting and iGaming in the US. Entain provides the technology which powers BetMGM and exclusive games and products, specially developed at its in-house gaming studios. The Group is tax resident in the UK with licenses in a total of 27 regulated markets. Entain is a leader in ESG, a member of FTSE4Good, the DJSI and is AA rated by MSCI. The Group has set a science-based target, committing to be carbon net zero by 2035 and through the Entain Foundation supports a variety of initiatives, focusing on safer gambling, grassroots sport, diversity in technology and community projects. For more information see the Group’s website: www.entaingroup.com
