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BetMGM & Entain Reaffirm 2024 Guidance amid Mixed Results
While BetMGM saw customer-friendly US sports results in the last quarter of 2024, it still pointed out it will not revise its guidance
Entain plc and its subsidiary BetMGM have reaffirmed their 2024 EBITDA guidance ahead of their financial results report. This follows a recent Entain stock drop of nearly 10% due to market volatility.
BetMGM and Entain Reveal Guidance for 2025
One of the world’s largest sports betting and gaming groups, Entain plc, as well as daughter company BetMGM, have reaffirmed their full-year 2024 EBITDA guidance. The news comes ahead of the company’s upcoming financial results report.
Furthermore, BetMGM and Entain’s announcement comes at a time of uncertainty for the global betting industry. Some industry rivals, such as Flutter, have also given indication of this. Last week, Flutter announced a revised revenue forecast due to poor NFL betting results. The company’s shares dropped nearly 2% in after-hours trading following Flutter’s revision of the 2024 earnings and revenue projections.
Entain was also not left unaffected by this phenomenon as the company’s stock has experienced significant volatility. Over the past few days, it has shed almost 10%.
Here Are the Important Numbers
Last year on July 29, BetMGM announced that the Second Half EBITDA was expected to be similar to the $123 million EBITDA loss delivered in the First Half of 2024. This is consistent with the company’s expectations for a year heavily focused on investment.
For H2 2024, BetMGM confirmed that EBITDA is expected to remain at a similar level, which will result in a full-year EBITDA loss of approximately $250 million. While the company saw customer-friendly US sports results in the last Quarter of 2024, BetMGM still pointed out it will not revise its guidance.
Meanwhile, BetMGM’s owner, Entain, seems to be in a much stronger position. In last year’s Q3 trading update, the company indicated that group EBITDA will reach the upper end of its previously announced $1.27 billion to $1.33 billion guidance range. According to Entain, it will reach the higher estimate of its guidance range in Q4 thanks to more operator-friendly sports betting results. The inclusion of significant international and non-sports betting operations has aided the organization in diversifying its portfolio, helping Entain weather the recent market volatility.
It should be noted that these are initial estimates for 2025. BetMGM and Entain are scheduled to provide more details on trading performance and outlook for this year on 4 February and 6 March 2025 respectively.
Stefan Velikov is an accomplished iGaming writer and journalist specializing in esports, regulatory developments, and industry innovations. With over five years of extensive writing experience, he has contributed to various publications, continuously refining his craft and expertise in the field.
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