{"id":8771,"date":"2025-03-07T06:29:12","date_gmt":"2025-03-07T06:29:12","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2025\/03\/07\/entain-reports-fy24-growth-despite-profit-decline-and-market-shifts\/"},"modified":"2025-03-07T06:29:12","modified_gmt":"2025-03-07T06:29:12","slug":"entain-reports-fy24-growth-despite-profit-decline-and-market-shifts","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2025\/03\/07\/entain-reports-fy24-growth-despite-profit-decline-and-market-shifts\/","title":{"rendered":"Entain Reports FY24 Growth Despite Profit Decline and Market Shifts"},"content":{"rendered":"
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Although revenue increased significantly, Entain\u2019s FY24 financial report also notes difficulties with operational profit. Net gaming revenue (NGR), excluding the U.S., increased 7% year over year to $5.16 billion ($6.66 billion), and gross profit increased 7% to $3.12 billion. In the meantime, underlying EBITDA increased by 8% to \u00a31.09 billion.<\/p>\n

At \u00a3616.6 million, the underlying operational profit, however, decreased 4% from the previous year. In spite of this, post-tax losses decreased dramatically to \u00a3461 million from \u00a3878.7 million the year before. The report was well received by stock prices, which at the time of writing had increased by more than 27% to 772.8 GBp.<\/p>\n

BetMGM and International Markets Drive Growth<\/h2>\n

BetMGM, Entain\u2019s joint venture with MGM Resorts, delivered $2.1 billion in net revenue, reflecting a 7% year-over-year increase. The brand holds a 22% market share in iGaming and 8% in online sports betting. Entain\u2019s 50% stake in BetMGM contributed to a 6% NGR growth (4% on a proforma basis).<\/p>\n

Internationally, Entain saw \u00a32.57 billion in revenue, up 6% year-over-year. Sports betting revenue increased by 8% to \u00a31.52 billion, while gaming revenue rose 1% to \u00a31.04 billion. Sports wagers reached \u00a312.38 billion, reflecting a 3% increase. The most notable international gain came from Brazil, where online NGR soared 41% after the country\u2019s gambling market became regulated. Other key markets include Georgia (+13% NGR) and the Netherlands (-13% NGR on a proforma basis). Australia<\/a>, Italy, and New Zealand saw modest gains of under 5%, while Germany remained flat.<\/p>\n

With no year-over-year rise in NGR, Entain\u2019s UK and Ireland segment was steady. The annual performance of FY24 was balanced by a 7% gain in the second half after a 6% decline in the first half. Retail revenue decreased by 1%, whereas online NGR rose by 2%. Additionally, the business recorded an 11% increase in active clients.<\/p>\n

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