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Entain Reports Favorable FY 2023 Results Despite Setbacks
Barry Gibson, Entain’s chairman, described 2023 as a period of “necessary, but ultimately positive, transition for the company

Global betting and gaming powerhouse Entain has published its FY 2023 report, highlighting favorable results across the board despite the recent decline in share price.
As reported by the company, its total group net gaming revenue increased by 14% to £4.83 billion. Entain emphasized that 100% of its revenue came from regulated or regulating markets.
Thanks to a record-breaking level of online active customers (+23% year-on-year), the company achieved a gross profit of £2.9 billion. EBITDA, on the other hand, increased by a single percent to £1 billion.
Entain also reported £879 of loss after tax, because of its DPA settlement regarding its legacy business in Turkey. Thanks to the robust management of its balance sheet, the company ended the year with adjusted net debt of £3.3 billion and leverage of 3.3x.
The BetMGM brand was a major performance driver, singlehandedly recording net gaming revenue of $1.96 billion. This figure highlights a year-on-year increase of 36% and was achieved thanks to the brand’s significant market share (14%) in markets where it operates.
Other Noteworthy Highlights
2023 also saw Entain make further strides into regulated markets. Thanks to its acquisition of STS Holdings, the gambling giant was able to make a foray into Poland. In the meantime, Entain penned a 25-year deal with TAB NZ, providing it with unique access to the New Zealand sports betting market.
Additional FY 2023 highlights included the enhancement of in-house content through the acquisition of 365Scores and Angstrom Sports.
In line with Entain’s dividend policy, its board proposed a total dividend for 2023 of £113 million in two installments. In the meantime, Entain expects its FY 2024 to be negatively impacted by the regulatory changes in multiple markets. The operator projected an EBITDA of £40 million for the year.
2023 Was a Period of Necessary Transition
Barry Gibson, Entain’s chairman, described 2023 as a period of “necessary, but ultimately positive, transition for Entain.” He teased that the company is making progress in its search for a new CEO and praised Stella David’s work as interim CEO.
David also commented on the results, saying that 2023 presented its fair share of challenges to the group. She lauded the company’s ability to deliver overall revenue growth despite the setbacks and added that her team has a clear vision for 2024:
We have started the new financial year with a clear plan to accelerate our operational strategy, and are making pleasing progress across a range of initiatives to re-focus our market portfolio, prioritize organic growth, drive our share in the US, and expand our margins.
Stella David, interim CEO, Entain
David added that her team will remain focused on operational excellence and outstanding execution, hoping to deliver future growth.
Angel has a passion for all forms of writing, be it fiction or nonfiction. His curious nature gives him an ace up his sleeve when researching a new topic. Angel’s thirst for knowledge, paired with adaptability, always helps him find his way around.
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