Entain reports strong H2 growth
International gambling and sports betting company Entain reported strong progress in its H2 results.Formerly known as GVC Holdings, Entain is an international gambling...
Brazil and UK: Entain’s target for turnaround plans
During Entain’s interim results presentation, on 8 August, CCO Sameer Deen emphasized the significance of Brazil and the UK for future growth.
CEO Stella David observed a 6% revenue rise in the year’s first half, with most of the results coming from Brazil.
Brazil’s net gaming revenue grew by 48% during Q2 and Entain predicts that these results will be maintained when the legal betting market opens in 2025.
Alternatively, the UK and Ireland recorded a 6% decrease in NGR due to regulatory changes.
Sameer Deen told analysts:
“We are taking the same operational turnaround approach in the UK as we did in Brazil and, while the UK is earlier in its transformational journey, we are seeing encouraging green shoots.”
Brazil became the fastest growing market for Entain, yet the UK market remains the largest.
This year Entain plans to introduce four times more modifications into their applications focusing specifically on Brazil’s movement towards a regulated gambling market. With plans already submitted for a license, Sportingbet is seeking to be among the first entrants into an open betting market starting in January 2025 within Brazil.
Entain’s UK and Irish business plans to grow by focusing on recreational customers by the end of the year. The company is simplifying user experiences, increasing site speed, and enhancing its free-to-play LadBucks program which has boosted conversion rates.
Before the start of the Premier League season, a new in-house bet builder will be launched along with app updates for faster loading. Under the leadership of Andy Hicks and new CMO Charlotte Emery, the UK team currently separated from the European division is committed to improving the UK market.
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