Entain PLC
LSE:ENT
Entain PLC
In the landscape of global sports betting and gaming, Entain PLC stands as a formidable contender, weaving together a narrative of digital transformation and expansive reach. Originally known as GVC Holdings, Entain embarked on a strategic rebranding journey in 2020, aligning its identity with a commitment to responsible gaming and innovation. The company operates a diverse portfolio encompassing online platforms, sports betting, and gaming ventures. Its digital prowess is demonstrated through its robust technology infrastructure, powering renowned brands like bwin, Coral, Ladbrokes, and PartyPoker. Across various jurisdictions, Entain crafts an engaging user experience, capitalizing on the dynamic nature of sports events and gaming trends to maintain a competitive edge.
Entain's business model thrives on both organic growth and carefully orchestrated acquisitions, expanding its footprint across regulated markets. By embracing a multi-channel approach, the company adeptly captures revenue from online platforms and also traditional retail outlets, cementing its presence in both the virtual and physical realms. A key element of Entain’s success lies in leveraging data analytics to optimize customer engagement and offering targeted promotions that enhance user retention. Moreover, the company prioritizes safe gambling practices, embedding responsible gambling measures that not only serve regulatory needs but also foster long-term customer relationships. Through its proactive strategies, Entain sustains momentum in a fast-paced industry, balancing traditional gaming roots with cutting-edge innovations.
In the landscape of global sports betting and gaming, Entain PLC stands as a formidable contender, weaving together a narrative of digital transformation and expansive reach. Originally known as GVC Holdings, Entain embarked on a strategic rebranding journey in 2020, aligning its identity with a commitment to responsible gaming and innovation. The company operates a diverse portfolio encompassing online platforms, sports betting, and gaming ventures. Its digital prowess is demonstrated through its robust technology infrastructure, powering renowned brands like bwin, Coral, Ladbrokes, and PartyPoker. Across various jurisdictions, Entain crafts an engaging user experience, capitalizing on the dynamic nature of sports events and gaming trends to maintain a competitive edge.
Entain's business model thrives on both organic growth and carefully orchestrated acquisitions, expanding its footprint across regulated markets. By embracing a multi-channel approach, the company adeptly captures revenue from online platforms and also traditional retail outlets, cementing its presence in both the virtual and physical realms. A key element of Entain’s success lies in leveraging data analytics to optimize customer engagement and offering targeted promotions that enhance user retention. Moreover, the company prioritizes safe gambling practices, embedding responsible gambling measures that not only serve regulatory needs but also foster long-term customer relationships. Through its proactive strategies, Entain sustains momentum in a fast-paced industry, balancing traditional gaming roots with cutting-edge innovations.
Strong NGR Growth: Group Net Gaming Revenue (NGR), including BetMGM, rose 16%, with online NGR up 1% pro forma; regulatory headwinds in the UK and Germany held back online growth, but underlying proforma online NGR excluding these was up 6%.
EBITDA Performance: Group EBITDA reached £499 million, up 6% year-on-year, with underlying EBITDA up 8%, in line with full-year expectations of £1–1.05 billion.
BetMGM Milestone: BetMGM delivered $944 million NGR (up 55%) and achieved its first EBITDA-positive quarter in Q2, remaining on track to be EBITDA positive for H2 and self-sustaining.
Provision for HMRC Settlement: A £585 million provision was announced for resolving the legacy Turkish business HMRC investigation, payable over four years, pending court approval.
Record Online Actives: Online actives reached a new high, up 23% year-on-year (15% organic), evidencing a growing and more recreational customer base.
Strategic M&A: Continued expansion via acquisitions, notably STS in Poland, TAB New Zealand, and 365Scores; management expects a slower M&A pace going forward.
Stable Guidance: 2023 group EBITDA guidance of £1–1.05 billion reaffirmed, with online NGR guidance at mid-teens growth following new acquisitions.
Progressive Dividend: Interim dividend per share increased by 5% to 8.9 pence; full-year dividend expected at £113 million.
