Entain has reported H1 2025 NGR of £2.6bn amid an outperformance of the UK and Ireland (UKI) online arm, as bosses said the operator was “getting stronger, fitter and faster”.
NGR for the first six months of the year was up 3% on a reported basis and 6% in constant currency (cc) from H1 2024.
Underlying EBITDA climbed 11% year on year (YoY) to £583.4m, while underlying operating profit spiked 52% to £437.6m.
However, losses after tax widended from £5.6m last year to £116.9m.
By vertical, online sports betting revenue ticked up 5% across the business, while igaming rose 11%.
Those figures exclude the contribution from BetMGM, the North America-facing 50:50 JV Entain operates with MGM Resorts International.
Management said the reported gains were delivered against a strong Q2 2024, which included the start of Euro 2024, plus positive performance in the UKI.
Looking at the UKI, the region delivered a 9% cc YoY jump in NGR to £1.1bn,powered by a 21% cc leap in online NGR.
Within UKI online, igaming leapt 23% and sports betting was up 16%, as the overall division returned NGR of £565m. Underlying group EBITDA jumped 37% to £273.6m.
Bosses said the UKI-facing brands, which include Ladbrokes, Coral, Gala and Foxy brands, had retaken market share and lapped regulatory restrictions it had put in place previously.
Sportsbook UX improvements, online casino content and a refreshed marketing strategy were also highlighted as key drivers of performance.
The group’s international division noted a 2% reported decline in overall NGR, to £1.3bn, although the figure was up 3% on a constant currency basis.
A 2% reported dip in online was met with a 1% uptick in retail as flat growth in various geographies and a large decline in Australia impacted the division.
Australia revenue slumped 13% on a reported basis, and online NGR in the country was down 7% due to customer-friendly racing results and market softness.
Staying in Australia, the largest online market in Entain’s international segment, A$100m (£48.4m) has been set aside as a provision ahead of the conclusion of a ruling by the country’s financial intelligence unit, AUSTRAC, into alleged AML failings.
Staying with the Southern Hemisphere, reported NGR in Brazil rose 2%, though there was 21% leap on a cc basis.
Entain said the new tax regime, implemented in January, in what is an “intensely competitive market” was an impingement.
Italy produced a 3% reported NGR uptick, while there was strong growth in Spain (36%), as well as gains in Georgia (9%) and New Zealand (9%).
International underlying EBITDA fell 9% to £274.6m.
In Entain CEE, which includes the Poland-facing STS and Croatia’s SuperSport, NGR climbed 5% to £253.8m, with SuperSport fuelling much of this growth.
Entain has also upgraded its full-year 2025 guidance, increasing its group EBITDA target to between £1.1bn and £1.15bn.
Online NGR is expected to rise 7% on a constant currency basis, or mid-singe-digit growth on a reported basis.
Alongside the London-listed operator’s H1 earnings, Pierre Bouchut was confirmed as the new permanent non-executive chair.
Bouchut had served as interim chair since February, when Stella David returned to the CEO role to replace Gavin Isaacs, who left after less than six months in the role.
Stella David, Entain CEO, said: “I am delighted by the ongoing momentum and strong performance that both Entain and BetMGM have delivered in H1 2025.
“Entain’s transformation journey is well underway, gathering pace and is supported by our high-quality portfolio of iconic brands with podium positions in attractive markets.
“Our business is getting stronger, fitter and faster, with these results reinforcing our confidence in driving sustainable underlying growth and generating more than £500m of cash annually in the medium term.
Entain shares dipped 0.5% in early trading to 932p.
The post “Outperformance” of UKI arm propels Entain to £2.6bn in H1 NGR first appeared on EGR Intel.
Multi-brand operator says market share is being taken in its primary division, while Pierre Bouchut is announced as permanent chair
The post “Outperformance” of UKI arm propels Entain to £2.6bn in H1 NGR first appeared on EGR Intel.