Entain Posts Robust 2024 Financials, Expects Continued Growth

Global gaming giant Entain PLC has posted stable 2024 financials, reflecting a solid recovery in key markets and impressive online growth. The group recorded a 7% year-on-year net gaming revenue (NGR) increase to £5.16 billion ($6.67 billion), supported by an 8% increase in EBITDA to £1.09 billion ($1.41 billion). Entain remains optimistic regarding its prospects and expects continued success.

Retail Operations Lagged Behind the Online Sector

Entain’s online division was a primary growth driver in 2024 as NGR rose 9% year-on-year, contributing to an 11% increase in online EBITDA to £941 million ($1.22 billion). Effective customer engagement, product innovation, and cost efficiencies pushed online EBITDA margin to 25.3%, exceeding initial expectations. The company’s strategic initiatives and operational efficiencies have been key to steadying its position.

The company’s retail segment also performed admirably, as revenues rose 2%. However, retail EBITDA declined by 11% to £261 million ($337 million) due to the ongoing shift towards digital betting and operational restructuring. Entertain expects this sector to remain stable going forward as markets settle down.

Most Jurisdictions Enjoyed Stable Growth

A key highlight of 2024 was Entain’s recovery in the UK and Ireland. After regulatory headwinds in the first half of the year, which led to a 6% decline in H1 NGR, the business rebounded with a 7% growth in H2. Simplified customer experiences and a more streamlined operating model substantially contributed to this resurgence.

The UK&I is an omni-channel market which brings many opportunities, particularly following our organizational restructuring.

Stella David, Entain Interim CEO

Meanwhile, Entain’s global footprint expanded further, with overseas NGR up 6%. Brazil was among the best-performing jurisdictions, with a 41% rise in NGR fueled by growing customer activity. Australia and Italy only recorded single-digit growth due to challenging market conditions, while Poland and Croatia propelled a record-breaking 62% rise in regional NGR for Central & Eastern Europe.

The Operator Expects Advancements in Multiple Areas

Entain’s financials exclude the contribution from its US joint venture, BetMGM. Including its 50% stake in BetMGM, total group NGR grew 6% to £6 billion ($7.75 billion). Interim CEO Stella David hailed the group’s resilience, underlying how Entain’s solid 2024 performance has set the stage for 2025 growth. She noted that transformation efforts were already making a difference and would continue paying dividends.

2024 has been a year of transformation for Entain. I am delighted to see that our strategic and operational improvements are translating into strong performance.

Stella David, Entain Interim CEO

Looking ahead, Entain remains focused on enhancing customer acquisition and retention, margin improvements in Brazil to adjust to regulatory tax changes, and capitalizing on emerging markets like Poland and New Zealand, where iGaming liberalization could unlock new opportunities. With a resilient business and untapped expansion potential, the group is well-positioned to navigate changing regulatory landscapes and maintain its competitive edge.