15 April 2021
(“Entain” or the “Group”)
Strong start to the year with growth across major Online markets
Entain plc (LSE: ENT), the global sports-betting and gaming entertainment group, today reports trading for the period from 1 January to 31 March 2021 (“Q1”).
- Strong first quarter Online, continuing the momentum seen at the end of 2020, in line with expectations
- Online net gaming revenue (“NGR”) +33% (+32%cc1) marks Entain’s 21st consecutive quarter of double digit Online NGR growth
- Strong performance in all major markets with NGR growth of +44%cc1 excluding Germany
- Sports NGR continued to benefit from favourable margins
- Retail significantly impacted by Covid restrictions with shops almost all entirely closed for the quarter
- Completed acquisitions of Bet.pt in Portugal and Enlabs AB in the Baltics, underpinning further progress of Entain’s strategic expansion into new regulated markets
- BetMGM continues to demonstrate strong momentum:
- Overall market share where BetMGM operates of 19%2,3
- Consistent #1 iGaming operator for whole of US, with 23%3 market share
- Ready to challenge for the #2 position for Sports betting and iGaming across the US
- Further details will be provided at the BetMGM Business Update on 21 April
- Ongoing focus and advances under our Sustainability Charter
- Trials of ARC, the ground-breaking Advanced Responsibility and Care player protection programme, now under way
- ESG rating upgraded to AA by MSCI rating agency
- Share Save employee share ownership plan launched across the Group to enable our people to share in the future success of the Group
- Further strengthening and diversification of the Board with recent appointments of Stella David, Vicky Jarman and Mark Gregory
- Commitment to be Carbon NetZero by 2035 based on science-based targets; Carbon Trust Standard for Carbon emissions achieved in 2020
- Awarded ISO for Environmental Management and Occupational Health & Safety
Jette Nygaard-Andersen, Entain’s CEO, commented:
“This has been another very successful and productive quarter with Entain making excellent progress across a number of our strategic priorities. This is testament to the hard work and dedication of our people across all aspects of our business. I am delighted that they will now have the opportunity to share in the future success of Entain through our new Share Save plan.
We saw excellent growth across all our major markets other than Germany where regulatory changes have impacted the market. BetMGM continues to exhibit outstanding momentum with impressive market share growth. Our acquisitions of Bet.pt and Enlabs underpin further progress on our strategic expansion into new regulated markets.
With some easing of Covid restrictions, we are delighted to be welcoming customers back into our shops. While it has only been a handful of days since the re-opening in parts of the UK on the 12 April, we look forward to returning to more normal trading across our whole business.
In line with our expectations, the momentum from the end of 2020 has carried into 2021. Although Covid creates some near-term uncertainty, by maintaining our focus on the customer, providing them with great products and services, we remain confident and excited in our long-term prospects.”
Q1: Period 1 January to 31 March 2021
Sport Wagers cc1
- Growth on a constant currency basis is calculated by translating both 2021 and 2020 performance at the 2021 exchange rates
- BetMGM revenues comprise of sports (Online and Retail) and iGaming revenues
- BetMGM market shares for the three month period to February 2021
- Retail operates in UK, Italy, Belgium and Republic of Ireland. Retail numbers are quoted on a LFL basis. During Q1, there were an average of 4,662 shops/outlets in the estate, compared to an average of 4,843 for the same period last year.
Investor Relations – Entain plc
Media – Entain plc
Media – Powerscourt
Tel: +44 (0) 20 7250 1446
Q1 Conference Call & Webcast
An analyst call will be held today, Thursday 15 April 2021 at 9:00am (BST). Participants may join via webcast or by conference call dial in, approximately 10 minutes before the start of the call.
Live audio webcast link: https://brrmedia.news/t33evv
To participate in the Q&A, please also connect via the conference call dial in details:
UK +44 (0) 33 0606 1118
US +1 646 813 7960
Room number: 133775
Participant PIN: 6876
A replay and call transcript will be available on our website: https://entaingroup.com/investor-relations/results-centre/
BetMGM Business Update: 21 April 2021
Q2 Trading Update: 8 July 2021
Interim Results: 12 August 2021
This document contains certain statements that are forward-looking statements. They appear in a number of places throughout this document and include statements regarding our intentions, beliefs or current expectations and those of our officers, directors and employees concerning, amongst other things, results of our operations, financial condition, liquidity, prospects, growth, strategies and the business we operate. These forward-looking statements include all matters that are not historical facts. By their nature, these statements involve risks and uncertainties since future events and circumstances can cause results and developments to differ materially from those anticipated. Any such forward-looking statements reflect knowledge and information available at the date of preparation of this document. Other than in accordance with its legal or regulatory obligations (including under the Market Abuse Regulation (596/2014), the Listing Rules, the Disclosure Guidance and Transparency Rules and the Prospectus Rules), the Company undertakes no obligation to update or revise any such forward-looking statements. Nothing in this document should be construed as a profit forecast. The Company and its directors accept no liability to third parties in respect of this document save as would arise under English law.
About Entain plc
Entain plc (LSE: ENT) is a FTSE100 company and is one of the world’s largest sports-betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports Brands include bwin, Bet.pt, Coral, Crystalbet, Eurobet, Ladbrokes, Neds and Sportingbet; Gaming Brands include CasinoClub, Foxy Bingo, Gala, Gioco Digitale, Ninja Casino, Optibet, partypoker and PartyCasino. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis. The Group has also entered into a joint-venture with MGM Resorts to capitalise on the sports-betting and gaming opportunity in the US. The Group is tax resident in the UK with licenses in a total of 27 regulated markets.
For more information see the Group’s website: www.entaingroup.com