Entain delivers ‘sustainable, consistent and diversified’ Q3 growth

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Entain has expanded Advanced Responsibility & Care trials into real time customer interaction across UK brands amid continued progress, as the group maintains the delivery of “sustainable, consistent and diversified growth” through the third quarter.

Delivering a trading update addressing its performance across Q3, as well as the year to date, the group, buoyed by a 23rd consecutive month of double digit quarterly growth, has hailed a “strong performance” against a tough comparative period.

This saw group net gaming revenue rise four per cent for the July 1 to September 30 time frame, with online rising seven per cent and retail down one per cent, with UK volumes recovering toward pre-COVID-19 levels, and activity steadily rebuilding in Europe.

On a digital basis, Entain’s sports and gaming divisions demonstrated increases of 12 per cent and one per cent, respectively.

In the US, the group’s BetMGM entity, which is live in 16 jurisdictions following recent day one debuts in Arizona, Wyoming and South Dakota, is reported to have a 23 per cent market share across sports betting and igaming for the three months to August.

This figure rises to 26 per cent when looking solely at the markets within which the brand operates, while Entain adds that it is the “clear igaming market leader” with a 32 per cent share.

For the year to date, group-wide NGR is eight per cent up, helped along by 20 per cent online uptick, which sees sports rise 38 per cent and gaming finish at seven per cent up. Retail NGR is down 23 per cent year-on-year.

Furthermore, Entain has also reaffirmed an expectation that full-year group EBITDA will fall in the region of £850m-£900m, with strong Q3 trading offset by the impact of the licensing process in the Netherlands.

Jette Nygaard-Andersen, Entain’s CEO, explained: “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 August 12, 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.”