In the light of the strong interim results in the six months ending 30 June 2025, Entain raised its 2025 EBITDA guidance to between £1.1 billion and £1.15 billion. Total Group Net Gaming Revenue (NGR), including Entain’s 50% share of BetMGM, rose 7% (+10% on a constant currency basis), with both Entain (+3%, +6% cc)
In the light of the strong interim results in the six months ending 30 June 2025, Entain raised its 2025 EBITDA guidance to between £1.1 billion and £1.15 billion.
Total Group Net Gaming Revenue (NGR), including Entain’s 50% share of BetMGM, rose 7% (+10% on a constant currency basis), with both Entain (+3%, +6% cc) and BetMGM (+35% cc) outperforming expectations. The results are particularly impressive given that last year’s Q2 included the Euros tournament.
Online NGR outside the US grew 5% (+8% cc), driven by strong sports and gaming volumes. In the UK & Ireland, NGR climbed 21% cc, supported by stronger-than-expected market share recovery and growth in player value. Brazil also saw 21% cc growth, meeting expectations in a highly competitive newly regulated market.
BetMGM’s strong H1 results support Entain’s upgraded FY25 outlook and the path to $500 million EBITDA and beyond. Online EBITDA margins expanded, exceeding expectations thanks to NGR mix and operational efficiencies, prompting a FY25 guidance increase to 25–26%.
Group EBITDA for H1 reached £583 million, up 11% year-on-year, while total Group EBITDA including BetMGM rose 32% to £625 million.
Entain also confirmed appointments of a non-executive Chair and CEO, ensuring continuity and consistency in its leadership team.
Stella David, CEO of Entain, commented:
“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 £0.5bn of cash annually in the medium term.”
Based on these results, Entain now expects FY25 Online NGR growth of around 7% on a constant currency basis and mid-single-digit growth on a reported basis.