Entain gaming revenue rises 2% as domestic growth offsets hit from Brazil
FILE PHOTO: A person stands inside a Ladbrokes betting shop in London, Britain, March 4, 2023. REUTERS/Henry Nicholls/File Photo
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Oct 15 : Ladbrokes owner Entain reported a 2 per cent rise in third-quarter net gaming revenue and reiterated its annual forecast on Thursday, as a strong showing in the UK and Ireland offset the impact from weaker performance in Brazil.
Here are some details:
• Brazil banned online gambling last month, piling pressure on an industry already squeezed by high costs and regulatory scrutiny
• Entain, which was already facing a tough environment in Brazil due to increased competition, had warned its 2026 group underlying core profit would be at the lower end of its earlier forecast range of £910 million to £960 million
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• The company reported net gaming revenue growth of 2 per cent and online revenue growth of 3 per cent for the three months to September 30
• UK & Ireland net gaming revenue rose 8 per cent, with online sales growth of 14 per cent beating the company’s own expectations
• Entain stuck to the full-year 2026 forecast it provided late last month, and affirmed its target of £500 million ($661.7 million) in annual adjusted cash flow in 2028
($1 = 0.7556 pounds)
Source: Reuters
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