16th Apr 2026 08:53
(Alliance News) - Entain PLC on Thursday backed its annual guidance as it hailed "strong momentum", with revenue in the UK & Ireland segment and Australia beating expectations.
The Ladbrokes Coral owner said net gaming revenue in the first quarter of 2026 rose 3% on-year at constant currency.
Entain shares rose 4.6% to 611.60 pence each on Thursday morning in London.
"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," Chief Executive Officer Stella David said.
"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."
Online net gaming revenue rose 5%, though in retail it shrunk 3%.
In the UK & Ireland alone, there was overall net gaming revenue growth of 6%, with a 13% surge in online slightly offset by a 1% decline in Retail. The online growth beat expectations, it said.
In International, NGR rose 1%, amid a 2% online rise and a 4% retail fall. In the central & eastern Europe segment, NGR fell 6%, with a 1% fall in online and a 30% slump in retail.
International was boosted by Australia, where it returned to "strong positive year-on-year growth" with NGR up 12%, topping expectations.
There was, however, "by customer-friendly sports results, particularly in Brazil and Italy".
In CEE, there was "highly customer-friendly sports results".
On Tuesday, Entain reported BetMGM achieved first quarter revenue totalling USD696 million, up 6% on-year, with earnings before interest, tax, depreciation and amortisation of USD25 million, up 11% on-year.
Isle of Man-based Entain expects full year adjusted Ebitda at BetMGM to be towards the lower end of the USD300 to USD350 million range, it said Tuesday. Net revenue is now expected to be between USD2.9 billion to USD3.1 billion, down from USD3.1 billion and USD3.2 billion before. It owns 50% of the US joint-venture.
For the whole of the group, Entain on Thursday backed its guidance range for online NGR growth of 5% to 7% at constant currency.
"Entain remains comfortable with market expectations for FY26 group underlying Ebitda and reiterates its confidence in generating at least GBP500 million of annual adjusted cashflow in 2028," the firm said.
Ebitda consensus stands at GBP1.13 billion, excluding BetMGM parent fees. It would represent a slight decline from GBP1.16 billion in 2025. Group underlying Ebitda, when including its 50% BetMGM share, totalled GBP1.24 billion in 2025.
By Eric Cunha, Alliance News news editor
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