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Entain posts record numbers for Q4
2 February 2023
(PRESS RELEASE) -- Entain plc, the global sports betting, gaming and interactive entertainment group, today reports trading for the period from 1 October to 31 December 2022, as well as for the financial year to 31 December 2022.
Financial Highlights:
Strong performance in Q4 with Group net gaming revenue (“NGR”) up 11% (+7% cc)
- Record Q4 Online NGR, up 12% (+8% cc) year on year, reflects a successful men’s World Cup, partly offset by weather disruptions to sporting fixtures
- Continued growth in active customers in Q4, also at record levels, up 14% versus the prior year
- Q4 Retail NGR up 10% (+9% cc) with UK volumes driven by strong growth in gaming and betting terminals
FY22 Group NGR up 12% (+10% cc)
- Including the 50% share of BetMGM joint venture in the U.S., FY22 Group NGR was up 15% cc
- FY22 Online NGR down 1% (-2% cc), reflecting strong Covid comparators and the absorption of regulatory changes, particularly in the UK and Germany
- Strong progress on the strategic broadening of customer appeal with the number of active customers up 7% year on year
- FY22 Retail NGR up 66% (+66% cc), with volumes ahead of pre-Covid levels, market share gains and a broadening customer base
FY22 Group EBITDA expected to be in the range of £985m – £995m, ahead of previous expectations and representing growth of c.12% versus the prior year
- SuperSport acquisition in Croatia, completed on 23 November 2022, contributed £8m to FY22 EBITDA
BetMGM, the Group's joint venture in the US, continues to perform strongly. As reported on 26 January 2023:
- FY22 NGR of $1.44bn up 71% year on year, ahead of expectations4
- 51% growth in online NGR, on same state basis
- 19% share in sports-betting and iGaming in the markets where BetMGM operates
- iGaming market leadership position maintained with 30% market share
- On target to be EBITDA positive in H2 2023
- Long term objectives of 20-25% market share and 30-35% EBITDA margin, remain unchanged
Operational highlights:
- Completed SuperSport acquisition in Croatia, driving further growth and geographic diversity through the recently established Entain CEE
- Completion of BetCity acquisition in January 2023 secures access to the attractive and fast-growing Netherlands market
- BetMGM’s ongoing success, including recent launches in Maryland, Ohio and Massachusetts, product and functionality developments as well as sportsbook app redesign, continue to be underpinned by the Entain Platform’s unique operational excellence
- Launch of UNIKRN in esports betting and skill-based wagering; soft launches in Brazil and Canada with further launches planned for 2023
- Continued progress on ESG initiatives under our Sustainability Charter
- Accelerated exit of unregulated markets as announced on 18 January 2023; Entain is the only global operator with 100% of revenues from domestically regulated or regulating markets
- ARC (“Advanced Responsibility & Care”) program extended to 22 international markets, and achieved milestone of one million proactive interactions
- Initiative launched in collaboration with McLaren Racing to support women in tech-based careers
“2022 has been another year of strong financial, operational and strategic progress for Entain,” said Jette Nygaard-Andersen, Entain’s CEO. “We have continued to grow our revenues in a sustainable and diversified way by expanding our global footprint, broadening our customer appeal, entering new areas of entertainment, and providing a safe environment for our customers. All of this has led to a record number of active customers in Q4, as well as a full year EBITDA performance ahead of our previous expectations.
We have started 2023 with good momentum across the business and remain confident in our ability to continue delivering on our growth and sustainability strategy in the year ahead.”
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