Entain reports strong 1Q25 results, appoints new CEO
Global sports betting and gaming group Entain, has announced its trading results for the first quarter of 2025, showing an operational performance that exceeded its expectations across various metrics.
The group also appointed Stella David as its new CEO, ensuring continuity and momentum for the group’s strategic initiatives.
David remarked on the results, stating, “We have made a strong start to 2025. Our improving operational execution has allowed us to maintain momentum from 2024 into Q1. Our strategy is clear, and today’s results are evidence of its successful implementation.”
Entain’s total Group Net Gaming Revenue (NGR), which includes a 50 percent share of BetMGM, rose by 9 percent overall and by 11 percent on a constant currency basis.
In a dispatch that only disclosed the percentage changes and not the specific amounts, the group states that its Q1 Online NGR, including the U.S. market, has increased by 12 percent, with a 15 percent rise when adjusted for currency fluctuations.
Excluding the U.S. market, Q1 Online NGR grew by 6 percent and 10 percent on a constant currency basis, primarily driven by strong volumes in the UK and favorable results in sports betting.
In the UK and Ireland, Online NGR surged by 23 percent on a constant currency basis, while Brazil experienced a significant increase of 31 percent, both surpassing expectations.
BetMGM also reported positive results, with NGR rising by 34 percent on a constant currency basis year-on-year, positioning the company on track to achieve EBITDA positivity in FY25.
Looking ahead, Entain remains confident in achieving mid-single-digit constant currency growth in Online NGR for FY25, supported by its strong positions in attractive and regulated markets.
During Q1, Group NGR (excluding the U.S.) increased by 8 percent on a constant currency basis, with Online NGR rising by 10 percent, benefiting from strong performance in both volumes and sports margins.
Retail NGR rose by 2 percent, albeit partially offset by softer gaming volumes in the UK. Within the UK and Ireland, NGR grew by 10 percent, driven by Online performance which increased by 23 percent, while Retail saw a slight decline of 1 percent. International NGR also increased by 5 percent, with Online NGR up 4 percent and Retail NGR up 11 percent.
Brazil’s performance remained strong, with NGR up by 31 percent, while Australia experienced a decline of 8 percent due to customer-friendly sports results.
Notably, BetMGM’s Q1 NGR also exceeded expectations at +34 percent, driven by its leading iGaming offerings and enhanced player engagement.
Entain reported a Q1 EBITDA of $22 million, attributed to positive contributions from both iGaming and Online Sports.
In conclusion, Entain expressed optimism regarding its year-to-date trading, highlighting strong Online volume growth and favorable sports margins. It also reaffirmed its expectations for mid-single-digit growth in Online NGR for 2025 and remained confident in aligning with market expectations for FY2025 EBITDA.
With ongoing operational and strategic progress, Entain believes it is well-positioned to generate over £500 million ($670.7 million) in annual cash flow in the medium term.
https://agbrief.com/news/australia/30/04/2025/entain-reports-strong-1q25-results-appoints-new-ceo/