Entain records strong Q3 results with a rise of 10%
With the arrival of its new CEO, Entain recorded strong Q3 results within just a few weeks.
Formerly known as GVC Holdings, Entain is an international gambling and sports betting company founded in 2004. The company owns brands such as PartyPoker, Sportingbet, Coral, and Ladbrokes.
Now, the company reported its Q3 results earlier than expected. With a strong Q3, Entain has also seen a year-on-year growth up two percent. And online NGR for the quarter, excluding the US, rose 10 percent and is “ahead of expectations.” All these happened after the new CEO’s arrival.
Gavin Isaacs commented:
“My first few weeks as CEO of Entain have reaffirmed my view that this is a very good business operating in a highly attractive global industry. Entain has great brands and an enviably diverse global portfolio and is bursting with talent, ambition, and opportunities. Entain is already on a path of strategic and operational improvement, with the strong Q3 performance demonstrating the progress achieved so far. We are at the beginning of the journey, and I’m looking forward to accelerating our progress, leading the business in our next growth chapter, and capturing the many exciting opportunities ahead.”
Overall, Entain’s revenue rose by 7%, although retail performance remained flat for the quarter. Year-to-date figures show a 6% increase in overall NGR.