Entain has posted a 3% increase in Q1 net gaming revenue (NGR) as bosses pointed to better-than-expected performances in the UK and Australia as key highlights.
Group online NGR jumped 5% year on year (YoY), as igaming gains (+9%) were offset by a weaker sports betting performance (-1%).
Online sports bets were up 11%, though sports betting margin was down by 1.3 percentage points, reflecting the customer-friendly results seen in Q1.
In the UK and Ireland (UKI), NGR climbed 6% YoY thanks to a 13% spike in online alone, yet retail slipped 1%. As is usually the case with quarterly updates, Entain hasn’t provided figures.
Management said the Ladbrokes and Coral parent company’s improvements online reflected the “market share gains with continued momentum across both gaming and sports”.
Online sports betting in UKI was up 8%, while igaming jumped 12%. UKI retail NGR was down 1%, but Entain said the division “continues to outperform the underlying market”.
International NGR rose 1%, as a 2% uptick in online was hampered by a 4% decline in retail.
However, Australia, which has been a perpetually softer market in recent years, grew 12% compared to the first quarter of 2024.
Bosses highlighted customer-friendly results, particularly in Italy and Brazil, as drags on the International arm.
Entain CEE, the Central and Eastern Europe JV with Emma Capital and comprising the likes of SuperSport in Croatia and STS in Poland, reported a 6% slide in NGR.
This was blamed on a 30% YoY slump alone in CEE retail, with online dipping 1%.
Croatia’s sports betting margin fell 7.1% percentage points during the reporting period, with customer-friendly results once again coming into play.
Earlier this week, BetMGM reported revenue of $696m, a 6% YoY increase. Entain has a 50% stake in the North America JV.
Following Entain’s Q1 announcement, the FTSE 100 company has retained its full-year 2026 guidance of 5% to 7% online NGR growth on a constant currency basis.
The business said it was “comfortable” with market expectations of £1.1bn in adjusted EBITDA, while it continues to expect to hit £500m in annual adjusted cashflow in 2028.
Stella David, Entain CEO, said: “We entered 2026 with strong momentum which has continued in Q1, with strong volume growth across our diversified portfolio.
“This further demonstrates our ongoing strategic execution and strengthening operations, and also highlights the growth embedded in our globally scaled business.
“Our strong and resilient business has started the year well, and we continue to build on this momentum. Our sharper focus and optimisation initiatives reinforce our conviction in delivering sustainable growth and improving cash generation.
“Entain remains well positioned to be a long-term industry winner, seizing the many opportunities ahead, and I am confident in our future.”
Entain shares are up more than 4% in early trading in London to 611p.
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Customer-friendly sports results bite in several geographies, yet management retains full-year 2026 guidance and insists the FTSE 100 business can be a “long-term industry winner”
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