Russell Pointon, Director at Edison Group, comments:
“Following a strong performance in Q4 21, Entain’s pre-tax profit for FY21 is anticipated to be in the range of £875m - £885m, which is higher than expected.
“Entain’s Q4 net gaming revenue was up by 4% in the period up until 31st December. Retail NGR was particularly strong, it surged by 60%, with an increase in betting activity at its shops as volumes returned to within 10% of pre-pandemic levels.
“In FY21 Entain’s NGR was up by 7% year on year, within which online NGR increased by 12% compared with FY20. There was a slight drop in Retail NGR, which fell by 3% year on year, reflecting the implementation of more Covid-19 restrictions than the year before.
“BetMGM, the Group’s joint venture in the USA with MGM resorts also released positive results yesterday. Highlights included a FY21 NGR of $850m, an increase of almost 5 times compared with the previous year. And for 2022, net revenue from operations of over $1.3bn is expected before reaching positive EBITDA in FY23.”
