Overall Performance

Entain’s total group net gaming revenue (NGR) experienced a 3% growth in the first quarter of 2024. With a 50% share in BetMGM, this growth expands to 6% when considering constant currency (CC) basis. However, on a pro forma CC basis, the group NGR encountered a 3% decline, signaling areas that require closer examination.

Central and Eastern Europe Segment

The Central and Eastern Europe (CEE) segment emerged as a standout performer for Entain during the first quarter of 2024. Reported NGR soared by a remarkable 124%, with both online and retail sectors boasting growth rates exceeding 100%. Online NGR surged by 133% on a CC basis, while retail NGR witnessed an impressive increase of 116% on the same basis. The gaming NGR registered a substantial rise of 30%, underscoring the segment’s robust performance.

Pro Forma CC Results

Pro forma results offer a deeper understanding of Entain’s financial landscape, incorporating all 2023 acquisitions as part of the company from the beginning of 2023. Notably, the UK and Ireland segment experienced a decline of 9% in online NGR and 6% in retail NGR. Despite international NGR showing an 8% increase on a CC basis, it declined by 2% on a pro forma CC basis. The CEE segment, significantly impacted by pro forma results, witnessed a notable contrast in growth rates compared to reported figures.

Conclusion: Entain’s Performance and Trajectory

Entain’s first quarter 2024 financial results provide valuable insights into the company’s performance and trajectory. While certain segments demonstrated robust growth, others faced challenges that require strategic interventions.

FAQs About the Entain’s First Quarter 2024 Financial Report

1. What was Entain’s overall performance in the first quarter of 2024?

Entain experienced a 3% growth in total group net gaming revenue (NGR) during the first quarter of 2024. When considering constant currency (CC) basis, this growth expands to 6%, primarily attributed to its 50% share in BetMGM.

2. What were the highlights of the Central and Eastern Europe (CEE) segment’s performance?

The CEE segment emerged as a standout performer, witnessing a remarkable 124% increase in reported NGR. Both online and retail sectors experienced growth rates exceeding 100%, with online NGR surging by 133% and retail NGR increasing by 116% on a CC basis.

3. How did the pro forma CC results impact Entain’s financial landscape?

Pro forma results, incorporating all 2023 acquisitions from the beginning of 2023, revealed a decline of 9% in online NGR and 6% in retail NGR for the UK and Ireland segment. Despite international NGR showing an 8% increase on a CC basis, it declined by 2% on a pro forma CC basis, with the CEE segment experiencing a significant contrast in growth rates.

4. What is the CEO’s perspective on Entain’s performance?

Stella David, Interim CEO of Entain, expressed optimism despite challenges highlighted in the financial report. She emphasized the company’s strides in accelerating operational performance, driving organic growth, and fostering organizational agility and efficiency.

5. What insights do Entain’s first quarter 2024 financial results provide?

Entain’s financial results offer valuable insights into its performance and trajectory. While certain segments demonstrated robust growth, others faced challenges requiring strategic interventions. Stella David’s optimistic outlook and commitment to operational improvements reflect Entain’s determination to navigate dynamic market conditions and achieve sustained growth.