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International growth offsets UK & Ireland decline for BetMGM co-owner Entain in H1

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Sports Betting

2024-08-09

International growth offsets UK & Ireland decline for BetMGM co-owner Entain in H1

Entain reported a 6% year-on-year rise in net gaming revenue (NGR) during H1, with growth across its Central and Eastern Europe (CEE) and international businesses offsetting a decline in the UK & Ireland.

NGR at Entain in H1 hit £2.56bn ($3.25bn). This excludes US operations from its 50% stake in BetMGM, the joint venture it shares with MGM Resorts International.

Of this total, £1.79bn came from online, an increase of 9% from the previous year. Entain also reported a slight rise in retail revenue – drawn from operations in the UK, Italy, Belgium, Croatia, New Zealand and Ireland – with this edging up 1% to £735.6m.

These figures are dampened when comparing the constant currency pro forma results, where online NGR has only increased by 1% and retail has shrunk by 4%.

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