Entain sees 13% loss in Q1 revenue
Entain has witnessed a 13% decrease in its NGR for Q1 of this year, even though its online NGR grew by 33%.
Entain, who is the owner of Coral and Ladbrokes, revealed that it had a good start to 2021, as this makes it its 21st consecutive quarter where it has seen double-digit online NGR growth. Land-based revenue was negatively impacted, due to the COVID-19 pandemic and the lockdown that ensued, since the quarter saw shops nearly always closed.
Additionally, the firm also underlined the acquisitions it had finalized, such as Baltic operator Enlabs AB and Bet.pt in Portugal as being major contributors, as well as the never-ending drive of BetMGM. A further report detailing BetMGM’s general progress will be released soon.
CEO of Entain, Jette Nygaard-Andersen, said:
“This has been another very successful and productive quarter with Entain making excellent progress across a number of our strategic priorities. This is testament to the hard work and dedication of our people across all aspects of our business. With some easing of Covid restrictions, we are delighted to be welcoming customers back into our shops.
While it has only been a handful of days since the re-opening in parts of the UK on the 12 April, we look forward to returning to more normal trading across our whole business. In line with our expectations, the momentum from the end of 2020 has carried into 2021. Although Covid creates some near-term uncertainty, by maintaining our focus on the customer, providing them with great products and services, we remain confident and excited in our long term prospects.”