15th Oct 2025 08:54
(Alliance News) - Bookmaker Entain PLC on Wednesday reaffirmed its annual outlook, after a third quarter rise in net gaming revenue helped by buoyant US trading.
Ladbrokes and Coral owner Entain said net gaming revenue rose 6% on-year, or 7% at constant currency, in the third quarter of 2025. Excluding the US, it rose 4%, or 5% at constant currency.
Online NGR, excluding the US, rose 5%, or 6% at constant currency in the quarter.
Entain said this was despite a one to two percentage points impact year-on-year from adverse sports results in September.
UK & Ireland NGR rose 8% on-year at constant currency, in line with expectations, with online growth of 15% and retail up 2%.
International NGR rose 1% at constant currency, with online volume growth of 5% largely offset by customer friendly sports results in September.
NGR grew 6% in Italy at constant currency but fell 11% in Brazil and by 6% in Australia.
Entain Central & Eastern Europe, which includes operations in Poland and Croatia, saw NGR rise 10%.
Chief Executive Officer Stella David said third quarter performance is "further evidence of the quality of our diverse business and its underlying momentum."
For 2025, Entain still expects 7% online net gaming revenue growth at constant currency, with mid-single-digit growth on a reported basis.
Earnings before interest, tax, depreciation and amortisation between GBP1.10 billion and GBP1.15 billion are still expected. Its Ebitda in 2024 amounted to GBP1.09 billion.
Shares in the company fell 1.7% to 825.27 pence each in London on Wednesday morning. The wider FTSE 100 was 0.1% lower.
Entain shares rose 1.8% on Tuesday after an upbeat statement from its US joint venture, BetMGM.
BetMGM is a sports betting and iGaming firm which operates across North America, and is jointly owned by Entain and Nevada-based MGM Resorts International.
On Tuesday, Entain noted third-quarter net revenue for BetMGM advanced 23% to USD667 million from USD544 million a year prior.
Owing to the strong performance full-year net revenue guidance for BetMGM was lifted to at least USD2.75 billion from USD2.7 billion, and Ebitda is now anticipated at approximately USD200 million, raised from at least USD150 million.
Further, the joint venture is "now positioned to distribute excess cash to parents, Entain and MGM Resorts", with at least USD200 million expected to be returned in 2025.
On Wednesday, Entain CEO David said: "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 GBP0.5 billion of annual cash from 2028," she added.
By Jeremy Cutler, Alliance News reporter
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