Entain Post Positives for H1 But Turkey Issue Still Looms

Jette Nygaard-Andersen boss of Entain

Entain posted its half yearly results showing revenues rising by 14% to £2.4 billion compared to £2.1 billion in the same period in 2022 and all the revenues are from 100% regulated or markets that are regulating, making it the company says the only operator to do so.

The companies US business saw NGR of $994 million in H1 enjoying a 55% rise compared to last year, which kept the company holding an 18% market share in the ultra-competitive US sports betting market. BetMGM the company said is on track to reach its prediction of NGR between $1.8 billion and $2 billion for the full year.

Jette Nygaard-Andersen Entain’s Chief Executive Officer said, “This has been another period of strong performance for Entain as we make clear strides towards delivering our strategic ambitions.In particular, we are making excellent progress in broadening our customer base and deepening our audience engagement, as evidenced by the record number of active online customers on our platform.

“BetMGM continues to show momentum and backed by our technology and capabilities we are excited by the improvements we are delivering for customers in the US.”

However the ongoing issue with the HMRC investigation into Entain or at the time GVC operations in Turkey, the company says it has put aside some £585m provision to settle the investigation into its Turkish business which was sold in 2017.