Entain reports growth – again

23rd consecutive quarter of double-digit online growth, underpinned by Entain’s industry-leading platform



Entain, the global sports-betting and gaming entertainment group, has reported trading for the period from 1 July to 30 September 2021 (Q3). The results show further strong results for the company, building on many years of growth.

Q3 highlights:

  • 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% cc, marking a 23rd consecutive quarter of double-digit growth in constant currency
    • Excluding Germany, online NGR was up +18 %cc1
    • All major markets (excluding Germany) delivered a strong performance, particularly in Australia and Brazil
  • Retail NGR was +1%cc, with UK volumes recovering toward pre-Covid-19 levels, and activity steadily rebuilding in Europe
  • BetMGM continues to deliver strong growth, with a 23% market share across the US in sports-betting and iGaming for the three months to August
    • 26% share in sports-betting and iGaming in the markets in which BetMGM operates
    • Clear iGaming market leader with 32% market share
    • Industry data for month of August shows BetMGM challenging for #1 market position across sports-betting and iGaming
    • Live in 16 jurisdictions, with recent launches in Arizona, Wyoming and South Dakota on first day of state licencing
    • Successful start to the NFL season with the launch of a national advertising campaign featuring Jamie Foxx
  • Continued progress on ESG initiatives under our Sustainability Charter
    • ARC (Advanced Responsibility & Care) programme continues to make good progress, expanding trials into real time customer interaction across UK brands
    • The Entain Foundation renewed its commitment to Pitching-In Trident Leagues and SportsAid partnerships
    • 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 expected to be in line with previous guidance of £850m – £900m
    • Uplift from strong Q3 trading performance offset by the previously announced impact of the licencing process in the Netherlands

 

Entain CEO Jette Nygaard-Andersen 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.”