Global sports betting and gaming group Entain saw first-half results ‘ahead of expectations’, with net gaming revenue up by 3 percent yearly to £2.62 billion ($3.53 billion).
Revenue saw similarly up, by 3 percent, to £2.59 billion ($3.49 billion).
However, the group saw its loss for the period inflate significantly, from £5.6 million ($7.54 million) in 1H24, to £116.9 million ($157.3 million) in 1H25.
The group has also further made a provision of AU$100 million ($65 million) in regards to a possible fine by the Australian Transaction Reports and Analysis Center (AUSTRAC). Australia’s financial watchdog commenced civil penalty proceedings in December of last year due to ‘serious and systematic non-compliance with Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws’. The move was the first time AUSTRAC has brought civil penalty proceedings against a business operating in the online betting sector.
Outside of the UK and Ireland, Entain’s international business saw a slight contraction, with sports wagers down by 5 percent yearly, to £5.85 billion ($3.8 billion). Net gaming revenue was down by 2 percent yearly, to £1.29 billion ($1.74 billion), with contractions of 2 percent seen in both its Sports and Gaming segments, bringing in £738.6 million ($993.88 million) and £488.4 million ($657.2 million), respectively. The group notes that during the period it ‘reported strong underlying performance across its largest markets except for Australia’. The Australia segment saw a 7 percent drop ‘due to ongoing softness in the underlying market as well as customer friendly racing results in Q1 weighing on H1 margin’.
Looking to New Zealand, the group’s NGR was up 12 percent yearly, with online up 18 percent. The group highlighted that the 2H24 launch of its second local brand Betcha was ‘now gaining traction’. The group also spotlighted the nation’s new ‘legislative “net” which restricts offshore unlicensed operators from offering racing and sports betting to New Zealand customers’.
The group’s Brazil operations performed strongly, with NGR up by 21 percent yearly.
Gross profit from the international segment was down by 3 percent yearly.
Speaking of the results overall, the group’s CEO Stella David noted that “Entain’s transformation journey is well underway, gathering pace and is supported by our high-quality portfolio of iconic brands with podium positions in attractive markets. Our business is getting stronger, fitter and faster, with these results reinforcing our confidence in driving sustainable underlying growth”.
Entain officially appoints non-executive Chair
On Monday, Entain also announced that it had appointed Pierre Bouchut as permanent non-executive Chair of the company, effective immediately.
Bouchut had served as the interim non-executive Chair since February of this year.
“The Board is delighted that Pierre has agreed to continue in the role of Chair. He is an accomplished business leader with a wealth of experience across multiple industries. Having been a member of the Board for several years, Pierre knows the sector well and also has a deep understanding of the Group’s underlying business dynamics and strategic priorities,” noted Entain’s Senior Independent Director David Satz.
