Revenues Up in Q3 for Entain
Entain (LON: ENT), the international gambling operator, has published its Q3 trading update it which it reports its 23rd consecutive quarter of double-digit online growth.
Between 1 July and 30 September 2021, Entain saw its net gaming revenue (NGR) grow 4% year-on-year, and online NGR was up 10%. If Germany is excluded from the figures, then online NGR was up by 18%.
In the report, Entain drew attention to BetMGM’s strong growth. It had a 23% market share across the US in sports betting and iGaming for the three months ending August. The operator is now live in 16 US jurisdictions, having recently launched in Arizona, Wyoming, and South Dakota.
The company also reaffirmed the expectation that full-year group EBITDA will be in the region of £850 million to £900 million, with the strong Q3 offset by the impact of the licensing process in the Netherlands.
Entain also highlighted that its Advanced Responsibility & Care (ARC) program is continuing to expand, and the Entain Foundation US-funded research with the University of Nevada in Las Vegas has launched a new app to provide support to the American Gaming Association’s (AGA) Responsible Gaming Initiative.
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 program, which we firmly believe has the potential to transform player protection across the industry.