Entain reports strong 1Q25 results, appoints new CEO

Nelson Moura

-

April 30, 2025

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.

The total number of inbound package tour visitors reached 550,000 in the first quarter, representing a 9.1 percent increase compared to the same period last year. While mainland China remained the dominant source market with 477,000 visitors, up 6.3 percent, international tour visitors showed stronger growth, rising by 19.8 percent to 60,000.

March 2025 data revealed continued momentum, with South Korean tour visitors increasing by 41.9 percent year-on-year to 11,000. This helped drive the overall international tour visitor count up by 21.5 percent to 24,000 for the month. Total inbound package tour visitors in March stood at 244,000, reflecting a 5.6 percent growth compared to March 2024.

Hotel statistics further confirmed the strong South Korean presence, with guests from South Korea rising by 16.1 percent to 92,000 in the first quarter. This made South Koreans the largest international guest segment in Macau’s hotels, significantly outpacing other international markets such as Japan, 26,000, up 9.8 percent, and Malaysia, 22,000, up 14.7 percent.

The surge in South Korean visitors comes amid an overall positive period for Macau’s tourism sector, with hotel occupancy rates climbing 5.2 percentage points to 90.1 percent in the first quarter. Five-star establishments performed particularly well with a 93.2 percent occupancy rate, up 6.1 percentage points year-on-year.

Despite the increase in tourism from South Korea and other markets, total hotel guests decreased by 5.4 percent to 3,574,000 in 1Q25, primarily due to a 3.4 percent decline in mainland Chinese guests, 2,721,000. However, the trend for international guests remained positive with an 8.1 percent increase to 292,000.

For March alone, hotel occupancy rates reached 88.8 percent, up 5.1 percentage points year-on-year, though total guest numbers decreased slightly by 2.7 percent to 1,203,000. The average length of stay remained stable at 1.6 nights.

Bucking Rider swaps traditional slot reels for fast-paced decision-making. As the multiplier ticks up from 1x to a potential 5000x, players must choose the perfect moment to cash out – or risk getting thrown as the bull bucks the rider. And with the Crashback™ feature now making a return, there’s a second shot on the line. If players cash out, the ride keeps going allowing them to hop back in for a shot at an even bigger multiplier.

The game’s dusty rodeo aesthetic and snappy animations bring the tension of a live arena to players. There’s no need to chase symbols or paylines – Bucking Rider is about pure risk versus reward, putting the reins directly in the player’s hands.

This release builds on the foundations laid by Miner Donkey Rider, and looks to be yet another fantastic release featuring an innovative new mechanic continuing Play’n GO’s drive to push genre boundaries, as with games like Legacy of Gems Blitzways™. Fans of arcade-style titles and casino newcomers alike will find Bucking Rider a striking mix of skill, timing and spectacle.

George Olekszy, Head of Game Retention at Play’n GO, said: “Bucking Rider is designed to shake things up. With the Crashback™ feature, players aren’t just watching – they’re making split-second decisions that can turn into serious rewards. It’s a bold format that expands what a casino game can be.”

Toni Karapetrov, Head of Corporate Communications at Habanero, said: “With Love and Riches: Eldorado, we wanted to offer players a bold and immersive slot packed with engaging features and an interesting narrative. From the beautiful design to the Expanding Wilds and symbol upgrades, something exciting is revealed behind every spin, and we cannot wait for players to experience the treasure hunt.”

The event drew over 100 representatives from 80 micro, small, and medium-sized enterprises (“MSME”). With this event, SJM aimed to maintain a close connection with local MSMEs for synergistic growth and collaboration, contributing to a more dynamic and inclusive business ecosystem to foster Macau’s economic diversification.

The event was honoured by the presence of the distinguished guests, including: Mr. Yau Yun Wah, Director of the DSEDT;
Ms. Victoria Kuan, Director-General of the CPTTM;
Dr. Paul Hung, President – Security, Surveillance & Environmental, Social and Governance of SJM;
Mr. Andy Wu, President of Board of Director of The Federal General Commercial Association of Macau Small and Medium Enterprises;
Mr. Wong Kin Chong, President of the Industry and Commerce Association of Macau Northern District;
Mr. Lei Cheok Kuan, Chairman of the Industry and Commerce Federation of Macau Central and Southern District;
Mr. Yeong King Hoi, Chairman of the Industry and Commerce Federation of Islands of Macao;
Mr. Wu Tat Chong and the President of the Industry and Commerce Association of Macau ZAPE.

SJM Resorts hosts 2025 Cyber Security workshop & Business Matching for MSMEs — _{Guests of honour officiated the activation ceremony of the “SJM SME Institution Cyber Security Workshop & Business Matching 2025”.}

Dr. Paul Hung, President – Security, Surveillance & Environmental, Social and Governance of SJM, remarked during his speech, “SMEs are the backbone of Macau’s economy, and SJM remains firmly committed to supporting their development by upholding our ‘local first’ procurement policy. Collaborating with local suppliers not only enhances the agility and reliability of our supply chain but also allows us to work with potential and excellent enterprises.”

“We believe that building a mutually beneficial and resource-sharing platform is key to establishing sustainable, long-term partnerships. Through such partnerships, we can truly embody the spirit of ‘big enterprises supporting small businesses’ while shaping a uniquely Macau business ecosystem.”

The business matching session brought together MSME representatives from a diverse range of sectors: travel services, cultural and creative products, event planning, media production, cleaning services, information technology, logistics, medical and pharmaceutical supplies, security services, skincare, and food and beverage, many were young, entrepreneurial ventures or “Made in Macau” brands.

Direct meetings between MSME representatives and SJM’s procurement team enabled businesses to detail their products and services, understand SJM’s procurement requirements, and receive tailored professional feedback. This improved their product positioning and competitiveness, paving the way for potential collaborations. The event also featured a cybersecurity workshop hosted by the “SJM SME Institution.” A speaker from CPTTM delivered a keynote on how to balance technology application and data security awareness in the rapidly evolving world of e-commerce, empowering local enterprises to promote business resilience.

SJM is committed to supporting MSME development and strengthen through its “local first” strategy. The “SJM SME Institution” established last year, will continue to provide valuable resources—business seminars, industry lectures, and workshops—to promote the sustainable growth of MSMEs and contribute to Macau’s economic prosperity.

The popular Hold & Win mechanic returns with expanding wilds in the base game, teasing big wins. Instant Mini, Major, Mega, and Ultra Bonuses keep anticipation alive with their tendency to drop at any point during play, further enhanced by an optional gamble feature and the chance to buy into the bonus round.

Designed for seamless play on both mobile and desktop, the game adheres to BetGames’ operator flexibility options of customisable branding and variable RTP levels.

Ian Catchick, Chief Product and Business Development Officer at BetGames, said: “Lotus Wealth Wonders Deluxe is poised to be another smash hit, delivering a refined and more rewarding experience for players who loved the original and newcomers alike. The addition of the extra reel and the retention of popular features, combined with flexible options for operators, make this a must-have addition to any game portfolio.”

The WIG Diversity & Inclusion Awards honour outstanding contributions across areas such as innovation, inclusive culture, community impact, and business leadership within the global gaming sector. This recognition follows a year of high performance results, new deals, new brand launches, platform, MEGA product growth, and leadership recognition, underscoring Soft2Bet’s dual strength as a technology provider and an employer of choice.

Shortlisted categories

B2B Excellence (Company);
Best Diverse Place to Work;
Community Engagement;
Company of the Year (Supplier);
Great Place to Work;
Innovator;
Leader of the Year and Positive Role Model of the Year (Supplier) – CMO at Soft2Bet.

“These nominations are a powerful endorsement of our teams, our strategic leadership, industry impact, and our unwavering commitment to excellence in key European markets where our brands and products consistently deliver top-tier performance,” said Oksana Tsyhankova, Chief Marketing Officer at Soft2Bet.

The shortlisting for Best Diverse Place to Work and Great Place to Work reflects the company’s internal progress: women now occupy 60% of leadership roles and team members from nine nationalities contribute to product development and strategy through initiatives like the Culture Squad and the Make a Difference platform.

Over the past year, Soft2Bet doubled its EBITDA, secured licenses in Ontario, Sweden, Romania, Spain, etc., announced new brands, new sponsorships on highly competitive markets, such as as Nordics and Ontario, and prepared for its first U.S. launch in New Jersey, bringing its total to 19 licenses across 12 jurisdictions.

Soft2Bet being shortlisted as B2B excellence is reflected in a robust portfolio of 13 consumer brands and industry recognition for both our proprietary platform and standout products such as MEGA, which continue to redefine engagement and innovation in regulated markets.

Earlier in 2025, Soft2Bet earned three titles at the European-Global Banking & Finance / Sustainability & ESG Awards, recognising Soft2Bet’s ongoing pursuit of innovation, its focus on delivering exceptional customer value, its strong AML measures, and overall commitment to compliance standards and sustainability across key European markets.

Mr. Lawrence Ho, Chairman and CEO of Melco Resorts & Entertainment, said, “Much more than a service, hospitality is about the experience it creates, the people it supports, and the impact it leaves behind. Each year, Melco challenges itself to push this further, believing that luxury and responsibility are not opposing forces but partners in progress, which is reflected in how we uphold strong governance, manage our environmental impact, support our people and communities, and lead in responsible gaming. This commitment to progress shaped our approach in 2024, as a year of recalibration in which we continued to strengthen operations, reignite momentum, and ensure our integrated resorts remain at the forefront of excellence.”

Key performance highlights from Melco Resorts’ sustainability strategy.

Awards/Recognition

DICJ RG Implementation Index – Ten Melco facilities have received recognition as ‘Responsible Gambling Model Units’ with nine earning perfect scores of 100% against the criteria;
“RG Check” accreditation – International, third-party Responsible Gambling Council accreditation across Melco properties in Cyprus and Manila;
Member of the “S&P Global Sustainability Yearbook 2025” and recognized as an Industry Mover, scoring in 93^rd percentile in industry group;
Carbon Disclosure Project (CDP) scores: B for Climate and B for Water;
Green Key and Green Hotel Awards for Studio City, Nuwa, Morpheus and The Countdown.

Engaging our People

Invested an average of US$582 per full-time-equivalent (FTE) employee on learning and development activities, equating to an average of 38 training hours per FTE, with 100% of colleagues attending training;
3.5% of Macau colleagues participated in over 4,100 Foundation Acceleration Program (FAP) experiences, of which 12% were related to non-gaming activities; 86% of Culinary FAP participants were retained within the Company with a 17% promotion rate upon completion.

Community Engagement & Investment

Close to 3,600 participants volunteered their time and efforts across 359 volunteering initiatives;
Over US$17.42 million donated to worthy causes in Melco’s local communities.

Energy & Climate Resilience

Energy-efficiency measures (EEMs) since 2018 have resulted in annualized savings of over 62.5 million kWh, an increase of 9% over 2023;
More than 25,000 PV panels at all properties in Macau, Manila and Cyprus onsite, generating close to 10,000 MWh annually.

Material Use & Waste

Entertainment City, COD Manila, Philippines — _{City of Dreams Manila}

Avoided 13.2 million SUP bottles with the NORDAQ water filtration system serving nearly all hotel rooms at Melco’s integrated resorts;
Expanded recycling of playing cards across properties in Macau, Manila and Cyprus;
City of Dreams Manila has established a circular economy where food waste is composted on site and excess compost is donated to a local farm to grow some of the vegetables served to guests.

Sustaining our Supply Chain

City of Dreams Mediterranean, Melco Resorts — _{City of Dreams Mediterranean}

100% cage-free eggs sourced for Melco F&B operations in Manila and Macau, with 74% at City of Dreams Mediterranean;
Accelerated adoption of recycled fabric uniforms, working to establish guidelines and adopt recognized certifications;
Strengthened data tracking and credibility in certified sourcing and chain-of-custody verification for key categories such as seafood and chemicals, while equipping local suppliers to meet Company expectations.

Empowering our Business

Continued ethics training and capacity building programs for colleagues and suppliers;
Implemented onsite, real-world cyberattack simulation drills for relevant colleagues and teams across the Group to test awareness, readiness to respond and system effectiveness.

Melco Resorts remains steadfast in its commitment to sustainability and invites stakeholders, partners, and communities to join in its journey towards a climate-fit and equitable future.

Waterhouse VC invests in Maincard, revolutionizing online betting

Elsewhere

AGBrief Editorial

-

April 29, 2025

0

Waterhouse VC invests in Maincard, revolutionizing online betting

Waterhouse VC, an investment fund focused on the technology layer of the global gambling industry, has secured an option in Maincard—a platform dubbed the ‘Shopify of Online Betting’—aiming to enable the launch of fully customizable licensed betting sites in under 30 minutes.

Maincard targets the $1 trillion iGaming market by replacing months of development work, cumbersome licensing, and complex integrations with a subscription-style workflow. Crypto-native founders, influencers, and digital communities can spin up branded betting sites, monetise their audiences, and retain full upside ownership from day one.

“Igaming still suffers from high startup costs and significant technical and regulatory friction,” said Tom Waterhouse, Chief Investment Officer of Waterhouse VC. “We’re seeing strong potential in platforms that can streamline development, similar to how Shopify revolutionised e-commerce. The sector is ripe for innovation that allows new entrants to focus on player acquisition and retention rather than backend development.”

“Waterhouse VC’s deep domain knowledge and network will accelerate our go-to-market,” said Valerii Makovetskii, Founder and CEO of Maincard. “We’ve developed strong technical foundations with our crypto-friendly payments gateway already powering third-party casinos. The next step is to make launching a betting site as easy as launching an online storefront.”

The investment aligns with Waterhouse VC’s approach of identifying promising B2B technology companies serving the wagering industry and negotiating options to acquire stakes in these businesses.

Maincard platform vision:

Launch in <30 minutes — drag-and-drop, no code required;
End-to-end compliance — licensing, KYC/AML, fraud, payments, customer support and marketing handled by Maincard;
15,000+ casino games & 1,000+ sportsbook markets out of the box.

Maincard is currently raising USD $3M to scale its sales team and launch multiple brands from the waiting list by the end of Q3 2025.

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.

Table of Contents

The Macao Government Tourism Office (MGTO) is once again partnering with cross-border bus and ferry operators to offer free direct bus and ferry tickets to international visitors arriving via Hong Kong, from May 1st to December 31st, 2025.

South Korean package tour visitors to Macau surged 43.5 percent year-on-year to 33,000 in 1Q25, according to data released by the Statistics and Census Service (DSEC).

Table of Contents

Play’n GO has announced the launch of Bucking Rider, the latest arcade-style crash game to feature the studio’s proprietary Crashback™ mechanic.

Table of Contents

Habanero, a premium slots and table games provider, embarks on an adventure to the legendary City of Gold with its latest release, Love and Riches: Eldorado.

Table of Contents

SJM Resorts (SJM), in collaboration with The Federal General Commercial Association of Macau Small and Medium Enterprises, hosted the ‘SJM SME Institution Cyber Security Workshop and Business Matching 2025’ at the Grand Ballroom of Grand Lisboa Macau.

Table of Contents

Leading games provider BetGames embarks on a captivating journey to the heart of Asia in Lotus Wealth Wonders Deluxe, the highly anticipated sequel to its player-favourite original.

Table of Contents

Soft2Bet, a leading iGaming turnkey solutions provider, has announced its shortlisting in eight headline categories at the 2025 Women in Gaming (WIG) Diversity & Inclusion Awards, set for 5 June at London’s Savoy Hotel.

Shortlisted categories

Table of Contents

Melco Resorts & Entertainment has released its 2024 sustainability report, reaffirming its ‘Above & Beyond‘ strategy. The initiative drives the company’s commitment to environmental restoration, community engagement, supply chain sustainability, and business empowerment for positive impact.

Key performance highlights from Melco Resorts’ sustainability strategy.

Awards/Recognition

Engaging our People

Community Engagement & Investment

Energy & Climate Resilience

Material Use & Waste

Sustaining our Supply Chain

Empowering our Business

Waterhouse VC, an investment fund focused on the technology layer of the global gambling industry, has secured an option in Maincard—a platform dubbed the ‘Shopify of Online Betting’—aiming to enable the launch of fully customizable licensed betting sites in under 30 minutes.

Maincard platform vision:

Table of Contents

ENQUIRIES & SUBSCRIPTIONS

CONTACTS

**Play’n GO has announced the launch of Bucking Rider, the latest arcade-style crash game to feature the studio’s proprietary Crashback™ mechanic.**

**Leading games provider BetGames embarks on a captivating journey to the heart of Asia in Lotus Wealth Wonders Deluxe, the highly anticipated sequel to its player-favourite original.**