{"id":7692,"date":"2024-08-09T06:08:29","date_gmt":"2024-08-09T06:08:29","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/08\/09\/entain-reports-solid-h1-2024-results-during-global-growth\/"},"modified":"2024-08-09T06:08:29","modified_gmt":"2024-08-09T06:08:29","slug":"entain-reports-solid-h1-2024-results-during-global-growth","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/08\/09\/entain-reports-solid-h1-2024-results-during-global-growth\/","title":{"rendered":"Entain Reports Solid H1 2024 Results During Global Growth"},"content":{"rendered":"
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Entain, a global leader in sports betting<\/a> and gaming, has revealed strong financial performance for the first half of 2024. The company\u2019s net gaming revenue (NGR) surged by 6% year-on-year to \u00a32.56 billion ($3.24 billion), marking a notable increase from the previous year.<\/p>\n

Entain\u2019s online NGR grew by 9%, excluding the U.S., thanks to a 13% rise in active customers. This growth was driven by impressive performances in international markets. In constant currency terms, the company saw a 10% increase in NGR. Brazil emerged as a standout with a remarkable 28% rise in NGR, while Australia experienced stable growth. However, the UK & Ireland reported a 6% decline in NGR, primarily due to regulatory changes and a weaker retail sector.<\/p>\n

The Central and Eastern Europe (CEE) region also contributed positively, with a 12% increase in pro forma NGR. Notably, SuperSport in Croatia, part of Entain\u2019s CEE operations, reported a 17% boost in NGR, further enhancing the region\u2019s performance.<\/p>\n

Financial Performance and Strategic Developments<\/h2>\n

Entain\u2019s financial results include a narrowed net loss after tax of \u00a347 million ($60 million), a significant improvement from last year\u2019s loss of \u00a3502.5 million ($637 million). The group\u2019s EBITDA rose by 5% to \u00a3524 million ($664 million), with online EBITDA reaching \u00a3445 million ($564 million). However, retail EBITDA saw a decline of 11%, totaling \u00a3140 million ($177 million).<\/p>\n

In the U.S., BetMGM, Entain\u2019s joint venture, continued its upward trajectory with a 9% increase in Q2 NGR. The joint venture has maintained a stable 13% market share and is expected to benefit from additional investments in the latter half of the year.<\/p>\n

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