Entain revenue reaches £2.4b in H1 2023
Entain has recently published its latest financial performance report.
The report started off with the operator’s revenue, which experienced a 14% growth when compared to the revenue figure of 2.1 billion pounds recorded in the prior year’s first half. When including the 50% performance of the company’s BetMGM subsidiary, which Entain jointly owns with MGM Resorts, the firm experienced a revenue expansion of around 19%.
Entain’s gross profits saw a slightly lower increase in the period, growing by 10% from 1.3 billion pounds to just over 1.45 billion pounds. This also led to a 6% EBITDA increase in the year’s first six months, which went from 471 million pounds to almost half a billion pounds.
The report also covered the growth rates of its segments in the year’s first half, with online gambling leading the way at an expansion of 22%. The firm’s other online segment, sports wagering, saw an increase of only 6%, which was the lowest one recorded. Entain’s combined online operations saw an increase of 15%, while its retail establishments grew by 12% in the period.
Lastly, the company mentioned a few other highlights in its report, with one of the most prominent ones being four major agreements that took place throughout the year’s first half. This included the company’s purchase of Angstrom Sports, 365Scores, and STS Holdings, along with the signing of the firm’s 25-year contract with TAB NZ.