Proudly sponsored by:
4. Entain
This time last year, industry veteran Gavin Isaacs was ensconced in the hot seat as Entain’s recently appointed CEO. Yet just five months into his reign, the Australian suddenly departed the FTSE 100 business in February 2025 by “mutual agreement”, forcing the board to embark on a search for the fourth permanent CEO since GVC Holdings was renamed Entain in 2020. What this multifaceted firm and its stuttering share price needed was stability, and that’s what it got in April this year when board member Stella David (pictured) – who had been holding the fort as interim CEO since Isaacs’ exit – assumed the role on a permanent basis. Entain shares rebounded under David’s stewardship, touching the £10 mark in July for the first time in nearly 18 months.
With a three-pillar strategy to deliver shareholder value – organic revenue growth, margin expansion and market share gains – there has been solid progress in key markets. The “outperformance”, as bosses described it, of the UKI digital arm in H1 resulted in the unit achieving a 21% YoY increase in NGR on a constant currency basis. Sportsbook UX upgrades, including improved player journeys, have helped Ladbrokes and Coral retake market share, management said. Meanwhile, Brazil (+21%), New Zealand (+18%) and Georgia (+14%) delivered double-digit YoY H1 gains. But it was Spain’s 39% YoY surge in NGR that jumped off the page. CFO and deputy CEO Rob Wood explained that “increased focus” had turned Spain – where Entain operates bwin and the Party brands – into a “star performer”. Elsewhere, Entain CEE – the joint venture (JV) with EMMA Capital in Central and Eastern Europe (CEE) – maintained its consistent growth (online +8% in H1), spearheaded by Croatian operator SuperSport.
Then there’s BetMGM, the JV with MGM Resorts International serving North America’s regulated markets. The igaming-first brand recorded a 37% YoY H1 jump in online NGR. Powered by Entain’s tech, BetMGM holds third spot overall across its active jurisdictions, with 14% GGR market share (22% igaming and 8% online sports betting). Though tighter regulations have shackled certain Entain markets (eg Belgium and the Netherlands), things seem to be clicking into place for David and her team, raising the prospect of Entain stepping onto the podium next year.
Financials: Online NGR (excluding the US) rose 8% (+13% with the US) YoY to £1.9bn in H1 2025. Underlying online EBITDA increased 13% to £502m
Strategy & impact: M&A that drove growth over the years has been replaced by a need to achieve consistent organic gains. Greater focus and investment in BetMGM is now paying dividends
Geographic reach: A footprint that extends to more than 40 territories. As of the end of H1 2025, the UKI was its largest market by share of group online NGR (23%), followed by the US (21%)
Influence & leadership: Owns 35+ brands, though David said during the Q2 presentation that some are “sleeping giants that we are starting to reawaken”. Sustainability and ESG are at the heart of the firm
If you are lucky enough to be ranked a Power 50 operator, secure your place at the Power 50 Summit next April
The post EGR Power 50 2025: 4 – Entain first appeared on EGR Intel.
Proudly sponsored by: 4. Entain This time last year, industry veteran Gavin Isaacs was ensconced in the hot seat as Entain’s recently appointed CEO. Yet just five months into his reign, the Australian suddenly departed the FTSE 100 business in February 2025 by “mutual agreement”, forcing the board to embark on a search for the
The post EGR Power 50 2025: 4 – Entain first appeared on EGR Intel.