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Entain Q3 revenue up just 2%

Entain’s Q3 2022 results show just a 2% increase in net gaming revenue, and a record level of active online customers, with a 6% year-on-year increase.

Ladbrokes

The report also shows a 10% rise in retail net gaming revenue. In terms of full-year predictions, FY2022 EBITDA is expected to be in line with previous guidance of £925m – £975m (approx $1bn).

Entain is completing the transaction for its acquisition BetCity in Netherlands and SuperSport in Croatia, which is scheduled to finalise in Q4 along with the creation of Entain CEE.

Jette Nygaard-Andersen, Entain CEO, commented: “Our business continues to perform well with good underlying momentum across the group, including in BetMGM. This illustrates the effectiveness of our growth strategy, the unique capabilities of the Entain platform, and the underlying strength of our diversified global business.

“I am delighted that we have welcomed even more customers to our brands across the world. This is a testament to our relentless focus on the customer, as well as the quality of our products, content and talented people.”

Andersen continued: “In the US, BetMGM continues to be the clear leader in the iGaming market, and the successful start to the NFL season also highlights the strength of our growing US sports betting offer. 

“We have healthy momentum across the business and look forward to a strong finish to the year which includes the World Cup. Looking ahead, we remain vigilant of the economic backdrop. However, our diversified revenue base and robust business model enable us to remain confident in our ability to deliver on our growth and sustainability strategy.”

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