Recent strategic acquisitions in Portugal and the Baltics have underpinned Entain’s growth into regulated markets as the group praised a “strong performance” during H1 2021.
Publishing its first half trading update for the period from January 1 to June 30, 2021, Entain revealed that the previously confirmed acquisitions of Bet.pt and Enlabs have performed “ahead of expectations”.
Meanwhile the operator noted that it also remains confident about its US expansion strategy – with the group’s BetMGM brand now holding a 21 per cent market share.
Total group NGR rose by 11 per cent during the six-month period, with the operator highlighting that it will now be “upgrading its expectations” for the full-year.
Online was a key driver of growth across the group, with a 28 per cent boost in online NGR – growth which reflects “the robust and diversified business model of the group”. Online gaming NGR jumped by 11 per cent, compared to a 52 per cent rise for the company’s online sports betting arm.
Jette Nygaard-Andersen, Entain’s CEO, commented: “We have delivered another strong performance across the Group. Our diversified business model has enabled us to grow our business in all key markets while navigating channel and product mix changes as retail re-opens and we annualise last year’s restricted sports calendar.
“Outside Germany where the market is digesting regulatory changes, we saw excellent growth across all our major markets. Our recent acquisitions, Bet.pt in Portugal and Enlabs in the Baltics, have performed ahead of expectations, and BetMGM continues to grow market share in the US, now at 24 per cent across our active markets.”
Looking at Q2 2021, which lasted from April 1 to June 30, 2021, total group NGR grew by 42 per cent. Online gaming NGR was “up strongly by 47 per cent compared to 2019” – this figure dropped to one per cent when compared to 2020.
Over the three-month period, Entain recorded an “excellent performance in all major markets” excluding Germany, with NGR growth of 32 per cent. This was largely attributed to extended lockdowns across the world.
Nygaard-Andersen continued: “We have a powerful platform at Entain that enables us to deliver consistent growth from our existing markets, whilst also entering new markets, all powered by our industry leading technology capabilities, business intelligence and analytics.
“Our platform provides us with a significant opportunity to align our business better with our customers and increasingly deliver a wider breadth of exciting products, content and experiences as the worlds of media, entertainment and gaming converge.
“Following our strong first half, we are upgrading our expectations for the full year and we remain confident and excited by the breadth and scale of the long-term sustainable growth opportunities ahead of us.”