Entain is optimistic at building on the “good momentum” enjoyed through the current year thus far, after reflecting on “another year of strong financial, operational and strategic progress”.
This comes as the operator reports a fourth quarter and full-year update, with the former’s net gaming revenue up 11 per cent, as sports and gaming each rose 13 per cent.
A successful World Cup, partially offset by weather disruptions to sporting fixtures, was acknowledged as primary drivers of an online uptick. Retail rose ten per cent, driven by strong growth in gaming and betting terminals.
On the M&A front, Entain hailed a SuperSport acquisition as delivering further growth and geographic diversity through the group’s CEE division, with European expansion expected via BetCity, the purchase of which was finalised last month.
On a full-year basis, NGR is expected to rise 12 per cent, inclusive of the 50 per cent BetMGM share, with online down one percentage point due to online drawbacks.
This, Entain said, is due to strong COVID comparators and the absorption of regulatory changes, particularly in the UK and Germany. Retail is up 66 per cent, with volumes ahead of pre-COVID levels, market share gains and a broadening customer base. Active customers were seven per cent ahead
FY22 group EBITDA is expected to be in the range of £985m–£995m, ahead of previous expectations and representing growth of 12 per cent versus the prior year
Jette Nygaard-Andersen, Entain CEO, commented: “We have continued to grow our revenues in a sustainable and diversified way by expanding our global footprint, broadening our customer appeal, entering new areas of entertainment, and providing a safe environment for our customers.
“All of this has led to a record number of active customers in Q4, as well as a full year EBITDA performance ahead of our previous expectations.
“We have started 2023 with good momentum across the business and remain confident in our ability to continue delivering on our growth and sustainability strategy in the year ahead.”