Our strategy and vision
To reflect the fundamental changes that have taken place both within our business and in the wider industry, in December 2020 we unveiled a new strategic vision and fresh corporate identity, with the Group being renamed to Entain plc.
Our ambition is to be the world-leader in sports betting and gaming entertainment. In order to achieve this while delivering long-term value for all of our key stakeholders, we have a clear strategy across two broad pillars: sustainability and growth.
Sustainability: a new charter to ensure our long-term success
We have long held the view that the most sustainable business in our industry will be the most successful business in our industry. With that in mind our new Sustainability Charter is based around five cornerstones:
1. An exclusive focus on regulated markets
By the end of 2023, 100% of our revenues will be from regulated markets, which means that we are exiting markets in which there are currently no viable paths to regulation. By the end of 2020, 99% of our revenue will be from nationally regulated or regulating markets, and we will work closely with regulatory authorities in the remaining 1% towards the highest regulatory standards. If it becomes apparent that regulation in those markets is unlikely, we will exit them.
2. Continuing to take the lead on responsible gambling
Ensuring the highest possible levels of player safety and protection is the best way of guaranteeing our long-term success. Our technology enables us to continuously upgrade and personalise our protections for customers. As such we have launched our Advanced Responsibility & Care (“ARC”) programme. We will proactively implement a number of additional checks on customers at various thresholds in the customer journey. From 2021 a responsible gambling metric is being incorporated into our annual group wide bonus conditions.
3. Pursuing the highest standards of corporate governance
We recognise that to be a world-leading company we need to adhere to the highest standards of governance in all areas of our operations. Our board has been strengthened and revitalised over the last two years, notably with Barry Gibson becoming Chairman in February 2020. We now have a robust corporate governance structure and policies in place that befit our status as a FTSE 100 company. As the board and nominations committee is focused on bringing greater diversity to the organisation, it is anticipated that further changes will be made to the board’s membership in due course.
4. Investing in our people and local communities
We have a long history of recruiting, retaining and nurturing the best people in our industry as well as a commitment to diversity, looking after our people, and creating the best place to work.
We are proud to be able to contribute to the wider communities in which we operate, through the Entain Foundation, which is committed to donating £100 million over the next five years including our new Pitching In programme that supports grass roots sports and sports people.
Growth: Four key drivers
We have a range of exciting growth opportunities that can significantly increase the scale of the Group over the next three to five years. These opportunities are based on four strategic imperatives:
1. Leadership in the US
We have a clear ambition to be the leading operator in the US through BetMGM, our joint venture with MGM Resorts. We have strong momentum already with an estimated market share of 18% across the states in which BetMGM is active.
2. Grow our core markets
We have achieved a huge amount in our existing markets, but there is still substantial headroom for further growth.
3. Enter new markets
We see significant opportunities for expansion into new regulated markets through organic opportunities as well as M&A.
4. Expand to new audiences New technology-enabled forms of entertainment are constantly emerging, and we intend to be at the forefront of capturing them. For instance, eSports and digital gaming are becoming the hub for a rapidly growing audience out of which are evolving new betting markets, and we see significant potential for us in this area.