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LONDON - Global sports betting and gaming group Entain plc (LSE:ENT) reported better-than-expected first-half results on Tuesday, with total group net gaming revenue up 7% to £2.63 billion and underlying EBITDA rising 11% to £583 million.
The company, which owns brands including Ladbrokes (LON:LCL), Coral, and BetMGM, upgraded its full-year guidance following the strong performance, particularly in its UK and US operations. Entain now expects approximately 7% online net gaming revenue growth on a constant currency basis for 2025.
BetMGM, Entain’s 50/50 joint venture with MGM Resorts (NYSE:MGM) in the US, delivered 35% revenue growth and turned profitable with EBITDA of $109 million, compared to a loss in the same period last year. The company raised BetMGM’s full-year outlook, now expecting at least $2.7 billion in revenue and $150 million in EBITDA.
"I am delighted by the ongoing momentum and strong performance that both Entain and BetMGM have delivered in H1 2025," said Stella David, CEO of Entain, who was appointed to the role in April. "Entain’s transformation journey is well underway, gathering pace and is supported by our high-quality portfolio of iconic brands with podium positions in attractive markets."
UK and Ireland online operations were particularly strong with 21% revenue growth, reflecting market share recovery and improved player experiences. Brazil also performed well with 21% growth in a newly regulated market.
The company declared an interim dividend of 9.8 pence per share, up 5% from the previous year, and introduced full-year group EBITDA guidance of £1.1-1.15 billion.
Despite the positive operational results, Entain reported a loss after tax of £116.9 million after charging separately disclosed items, including a £50 million provision related to AUSTRAC proceedings in Australia.
The company also announced the appointment of Pierre Bouchut as permanent non-executive Chair, having served in an interim capacity since February.
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