Entain has hailed the “underlying momentum” of its business after reporting a 6% increase to its net gaming revenue (NGR) for the third quarter of 2025.
In its latest trading statement, the Ladbrokes and Coral parent company said online NGR increased 8% when compared to Q3 2024, with retail NGR also up 2% year on year (YoY).
Entain noted that the increase occurred despite the customer-friendly sports margins recorded in September.
NGR from the operator’s UK and Ireland arm increased 8% YoY, with online revenue from the region rising 15% YoY.
On the whole, international NGR remained steady with a 1% YoY rise despite fluctuations across different jurisdictions.
Brazil NGR decreased 11% YoY due to “adverse sports margins”, while NGR generated from Australia fell 6% YoY –attributed to the impact of “customer-friendly sports results despite stable volumes”.
Conversely, Italy reported a 6% YoY increase in NGR, while Georgia, New Zealand, Spain, Canada, Austria and Greece all delivered double-digit online NGR growth.
Revenue from Central and Eastern Europe (CEE) also increased 12% in Q3 compared to the corresponding period last year.
Group NGR, excluding US-facing operations, increased 4% YoY, with overall online NGR up by 5% from Q3 2024.
When looking at BetMGM, the Entain and MGM Resorts joint venture (JV) reported an 18% increase in NGR YoY, with online revenue increasing 20%.
The operator reported revenue of $667m (£502m) in its own Q3 results, as revealed yesterday (14 October).
Looking at the year-to-date (YTD), group NGR is up 9% YoY, with online revenue increasing 9% compared to 2024.
Entain reiterated that the results fell in line with previous guidance, with “mid-single-digit” online NGR growth expected for full-year 2025.
Group EBITDA for FY 2025 is expected to reach between £1.1bn and £1.15bn, with a margin of 25%-26%.
In June, Entain increased its FY 2025 guidance for BetMGM to $2.6bn (£1.9bn), with adjusted EBITDA expected to reach $100m.
“Sustainable profitable growth”
Entain CEO Stella David praised the impact of BetMGM as she hailed the operator’s Q3 performance.
She said: “Entain’s transformation continues at pace, with our strategic execution and expanding bandwidth delivering growth across our portfolio. Whilst we still have more to do, our Q3 performance is further evidence of the quality of our diverse business and its underlying momentum.
“BetMGM’s continued success and strong year-to-date performance is driven by our strengthened sports product and leading igaming offering, coupled with refined player engagement.
“We are delighted that BetMGM is achieving sustainable profitable growth and expects to begin distributing cash to parents later this year.
“With Entain becoming ever stronger and BetMGM growing profitably, we are increasingly confident in delivering consistent underlying growth and generating more than £0.5bn of annual cash from 2028.”
EGR spoke to BetMGM CEO Adam Greenblatt at G2E in Las Vegas last week for an in-depth Q&A and he hailed the JV as the most successful “in the history of anything”.
Entain’s share price has decreased by 2.5% since market opening, at the time of writing.
Earlier this month, David suggested in an interview with The Sunday Times that Entain could look to divest into other markets if the UK government followed through with threats of tax increases for gambling operators.
Chancellor Rachel Reeves is set to announce her Autumn Budget on 26 November and has hinted tax rises will be included after suggesting operators need to pay their “fair share”.
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Online net gaming revenue up 9% year on year for the “ever stronger” multi-brand operator despite impact from adverse sports results in September
The post Strong BetMGM performance drives Q3 revenue increase for Entain first appeared on EGR Intel.