Entain Reaffirms FY25 Guidance Amid Revenue Gains

Entain plc (LSE: ENT) has reiterated its full-year 2025 guidance following a third quarter that demonstrated underlying momentum.

The global sports betting and gaming group reported a 6% increase in total Group Net Gaming Revenue (NGR), including its 50% share of BetMGM, or 7% on a constant currency basis.

Group NGR, excluding the US, rose by 4% (5% cc), while BetMGM Net Revenue surged 23% on a constant currency basis.

BetMGM's strong Q3 performance has prompted an upward revision of its FY25 guidance, now projecting Net Revenue of at least $2.75 billion and EBITDA of approximately $200 million.

Furthermore, BetMGM anticipates commencing cash distributions to its parents, with at least $200 million expected to be returned in 2025.

Entain maintains its FY25 guidance, expecting approximately 7% Online NGR growth on a constant currency basis, equating to mid-single-digit growth on a reported basis. The Group continues to forecast FY25 Group EBITDA in the range of £1.1 billion to £1.15 billion.

The UK & Ireland market saw NGR increase by 8% on a constant currency basis, driven by a 15% rise in Online NGR. International NGR grew by 1% (cc), with online volume growth offset by customer-friendly sports results in September. Entain CEE NGR was up 10% (cc).

BetMGM's Q3 net revenue reached $667 million, a 23% increase (cc) year-over-year. iGaming grew 21% (cc), and Online Sports surged 36% (cc), fueled by a strengthened sports product and refined player engagement strategy.

Stella David, CEO of Entain, commented: “Entain's transformation continues at pace, with our strategic execution and expanding bandwidth delivering growth across our portfolio… BetMGM's continued success and strong year to date performance is driven by our strengthened sports product and leading iGaming offering, coupled with refined player engagement.”