Entain, the global sports betting and gaming entertainment group, has reported trading for the third quarter of 2021.
There was strong Q3 performance with group net gaming revenue up foru per cent against a period of high growth in the prior year. Online NGR was up 10 per cent, marking a 23rd consecutive quarter of double-digit growth in constant currency. Excluding Germany, online NGR was up 18 per cent.
All major markets (excluding Germany) delivered a strong performance, particularly Australia and Brazil. Retail NGR was up one per cent, with UK volumes recovering toward pre-Covid-19 levels and activity steadily rebuilding in Europe.
BetMGM continues to deliver strong growth, with a 23 per cent market share across the US in sports betting and igaming for the three months to August.
Jette Nygaard-Andersen, Entain’s CEO, commented: “These results demonstrate Entain’s continuing ability to deliver sustainable, consistent and diversified growth.
"Our powerful Entain platform provides customers with great products and experiences, which enables us to grow ahead of our markets as demonstrated by 23 consecutive quarters of double-digit online growth.
We continue to lead our industry in the all-important area of player protection and I am excited by the early results of our innovative ARC programme, which we firmly believe has the potential to transform player protection across the industry.
"As we announced on August 12, our total addressable market is expected to more than triple to over $160bn. This will be driven by the significant opportunity in the US, where we are now challenging for the number one market position, our growth plans in other new and existing markets and our strategy of entering into new areas of interactive entertainment.
"By offering customers ever more engaging products, while leveraging our scale and technology, we will drive the flywheel effects of secular growth dynamics that can triple the size of our business. As a result, we remain very confident in Entain’s future prospects.”
