{"id":6981,"date":"2024-04-17T08:49:37","date_gmt":"2024-04-17T08:49:37","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/04\/17\/entain-achieves-expected-performance-with-q1-revenue-rise-of-3\/"},"modified":"2024-04-17T08:49:37","modified_gmt":"2024-04-17T08:49:37","slug":"entain-achieves-expected-performance-with-q1-revenue-rise-of-3","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/04\/17\/entain-achieves-expected-performance-with-q1-revenue-rise-of-3\/","title":{"rendered":"Entain Achieves Expected Performance with Q1 Revenue Rise of 3%"},"content":{"rendered":"<div>\n<p>Today, Entain released its preliminary financial results for the first quarter, revealing a rise in reported revenue, including its 50% share in the BetMGM joint venture. When measured in constant currency, this increase amounts to 6%. However, if considering all of last year\u2019s acquisitions as if they were part of Entain from January 1, 2023, the revenue, adjusted for constant currency, shows a 3% decrease.<\/p>\n<p>A significant contributor to the increase was robust growth in Central and Eastern Europe (CEE), where reported revenue soared by 124%. This spike was driven primarily by the acquisitions of Poland\u2019s STS and Croatia\u2019s SuperSport in 2023, with SuperSport showing exceptional performance in the first quarter.<\/p>\n<p>The company\u2019s online and retail sectors also saw impressive gains, with online revenue climbing 128% and retail revenue increasing by 111% year-on-year. On a proforma basis, adjusted for constant currency, overall revenue rose by 11%. Additionally, proforma net gaming revenue (NGR) from gaming jumped 30%, while sports NGR and sports wagers increased by 6% and 7%, respectively.<\/p>\n<h2>Continued Success in the US with BetMGM<\/h2>\n<p>In the US, the BetMGM venture continues to perform well, achieving a 2% increase in NGR this quarter and maintaining a 14% market share across sports betting and igaming. Strength in igaming helped balance lower win margins in both online and retail sportsbooks.<\/p>\n<p>Entain highlighted strong growth in customer acquisition, boosted by effective engagement strategies during key events like the Super Bowl and March Madness. 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Online revenue dropped by 9% and retail by 6%. Both proforma and constant currency figures mirrored this decline.<\/p>\n<p>The gaming sector in these regions saw a 7% decrease in proforma and constant currency NGR. Sports NGR fell by 8%, compounded by a 12% reduction in sports wagers during the quarter.<\/p>\n<p>Despite these challenges, Entain remains optimistic about its future in the UK and Ireland, citing operational improvements and a stabilizing regulatory environment as factors that will support growth through 2025.<\/p>\n<h2>International Expansion<\/h2>\n<p>Outside of CEE, the UK, Ireland, and the US, Entain\u2019s international business also saw growth, with a 4% increase in reported revenue. Both online and retail revenues in these international markets grew by 4%.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"BetUS\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/BetUS.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"BetUS\" target=\"_blank\" rel=\"nofollow noopener\">BetUS<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of up to $2,500<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino &#038; Sports<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>However, total international revenue was up only 3% in constant currency. When adjusted to proforma constant currency, there was a slight 2% decrease. In the gaming segment, proforma and constant currency NGR increased by 1%, while sports NGR and sports wagers experienced declines of 5% and 3%, respectively.<\/p>\n<p>Several markets showed positive trends, although challenges in Australia, the Netherlands, and Germany dampened overall performance. Brazil, in contrast, demonstrated strong growth due to operational improvements. Italy, despite significant volume growth, saw a decline in NGR due to customer-friendly sports margins.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/entain-achieves-expected-performance-with-q1-revenue-rise-of-3\/\">Entain Achieves Expected Performance with Q1 Revenue Rise of 3%<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Today, Entain released its preliminary financial results for the first quarter, revealing a rise in reported revenue, including its 50% share in the BetMGM joint venture. When measured in constant currency, this increase amounts to 6%. However, if considering all of last year\u2019s acquisitions as if they were part of Entain from January 1, 2023, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-6981","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/6981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=6981"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/6981\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=6981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=6981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=6981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}