The company’s financial statement for 2023 highlighted a net gaming revenue (NGR) of £4.83bn, an 11 percent uplift from £4.35bn in 2022, factoring in its joint venture achievements with MGM Resorts International in BetMGM.
Region-specific performance showed a mixed bag, with the UK & Ireland segment experiencing a three percent decline, and international operations also reducing by two percent. Conversely, operations in Central and Eastern Europe and the USA exhibited growth of 11 percent and 36 percent, respectively.
Online operations flourished with a 12 percent increase in net gaming revenue, buoyed by significant growth in sports and gaming segments and a 23 percent rise in active online customers.
The year also saw notable growth in retail NGR by nine percent, supported by strategic acquisitions and enhancements in retail offerings. The US-focused BetMGM venture saw a robust 36 percent growth, affirming its market position with a 14 percent share in operational states and a positive EBITDA in the year’s second half.
Despite these successes, 2023 concluded with a substantial loss for Entain, largely due to settlements and charges, especially impacting its Australian sector due to tax increases.
Entain’s 2024 forecast acknowledges the anticipated impact of regulatory changes in the UK and the Netherlands on its EBITDA. The company is proactively preparing for the implementation of new gaming regulations, including online slot stake limits, which, despite expected short-term disruptions, are seen as beneficial for long-term market growth.
With a strategic focus on operational efficiency, market repositioning, and product enhancement, Entain remains committed to driving growth and shareholder value, underlined by its operational strategy acceleration into the new financial year.
As Entain braces for a challenging regulatory environment, its strategic endeavors and focus on product innovation and market efficiency highlight a determined path toward sustained growth and market leadership. The group’s proactive stance on strategic reviews and leadership adjustments, including the appointment of a new interim CEO, illustrates its commitment to navigating through transitional periods with a clear vision for future success.
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