Favorable results from EURO 2024 helped propel Entain to £2.9 billion in net gaming revenue through the first six months of the year.Q2 was a strong period for Entain, in part thanks to stronger-than-expected win margins for EURO 2024 competition. Total net gaming revenue was up 6% overall to £2.9 billion and Group EBITDA was up 5% to £523.8 million.
“Entain’s H1 results are clear evidence that our hard work improving the Group’s operational performance is bearing fruit," commented David."Whilst there is more work to do, we are pleased with the progress so far and look forward to building further on these solid foundations in H2 and beyond.”by both Entain and MGM Resorts leadership.
However, BetMGM delivered accelerating net revenue momentum through the first six months of the year, generating $1.0 billion. Q2 NGR was up 9% year-over-year following 4% YoY growth in Q1 driven by strong acquisition and retention metrics, with improving app and product capabilities and successful engagement campaigns.BetMGM is also a major player in the iGaming space, and the second half of the year should also see continued investment in strengthening its position there.
The company is now expecting low single-digit positive proforma growth in online NGR and Group EBITDA is expected to be in the range of £1.04-£1.09 billion. , Brazil is currently Entain’s fastest growing market, with online NGR growing 48% in Q2 alone there, moving from double-digit YoY NGR decline in 2023.
The first half also saw Entain onboard a new management team that is now exclusively focused on the U.K. & Ireland, where the company’s faced someIf you choose to make use of any information on this website including online sports betting services from any websites that may be featured on this website, we strongly recommend that you carefully check your local laws before doing so. It is your sole responsibility to understand your local laws and observe them strictly.
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