Publishing its Q3 2023 results, Entain has revealed it saw an uptick in net gaming revenue for the total group of seven per cent.
As the company has predicted, online net gaming revenue was up nine per cent with minus six proforma, and for retail that was up four per cent with minus four proforma.
BetMGM was up around 15 per cent year-on-year with a net gaming revenue of $458m.
The company also announced a presentation later today at which management will “outline key initiatives to accelerate the group’s operational strategy.”
“Entain has undergone a profound transformation over the last few years, and now has strong foundations from which to move into its next phase of growth,” said Jette Nygaard-Andersen, Entain’s CEO. “We have made significant investments in responsible gambling initiatives. While these steps have impacted EBITDA, they are unquestionably the right thing to do to improve our long-term prospects.
“From here, we have a clear plan to focus our portfolio for organic growth, drive our market share in the US, improve our operational leverage, and increase our EBITDA margins. The wide range of initiatives that are underway will cement our position as a customer-focused industry leader, enable us to achieve our strategic ambitions, and deliver enhanced returns for all our stakeholders.”
