Entain Shares Break 1,000p Resistance as BetMGM Report Boosts Sentiment

Entain shares (LON:ENT) have decisively broken through the 1,000p barrier, reaching a new 52-week high of 1,031.50p on the back of a strong trading update. ENT's share price has moved 46% higher since the start of the year, and 80% over the past 12 months as the rally gathers increasing pace.

The recent push higher reflects growing investor confidence, driven in part by the exceptional performance of BetMGM, the 50/50 joint venture between Entain and MGM Resorts International (NYSE:MGM).

The online gaming and sports betting platform has once again raised its full-year earnings guidance, marking the second upward revision in July alone, solidifying its position as a key growth driver for Entain.

The revised guidance now projects BetMGM achieving at least $150 million in EBITDA for the full year 2025, a significant leap from the previous forecast of at least $100 million.

Net gaming revenue increased 36% year-over-year to $692 million, exceeding the consensus estimate of $680 million. The growth was broad-based, with both online sports betting and iGaming contributing significantly. EBITDA for the quarter reached $86 million, a substantial improvement of $78 million compared to the same period last year, and a resounding beat against the consensus estimate of $36 million.

In breaking the 1,000p barrier for the first time since early 2024, Entain is clearly on an upward curve, although there remains plenty to be done in order to return shares to previous heights. A 52 week high, and a break above a firm resistance will have to do for now.