Entain's net gaming revenue increased by 6%

Entain has released its interim results for the first half of 2024, reporting a 6% increase in total net gaming revenue (NGR) compared to the same period last year. The group's achievements were bolstered by higher-than-expected winnings during the UEFA European Championship, as well as improved operational performance in the second quarter.
For the six months ending June 30, 2024, Entain's EBITDA reached £524 million ($657 million), marking a 5% increase. The online casino segment also saw a notable 9% growth in NGR.
In the UK and Ireland, there was a 6% decline, reflecting challenges related to regulatory frameworks and other market conditions. Despite this, the online sector in the region experienced a 12% increase in active customers and a stabilization in per capita spending over the past year.
International operations reported stronger results, with NGR rising by 10%. Brazil showed a remarkable 28% increase in total net gaming revenue for the first half of the year.
The Central and Eastern Europe (CEE) region also performed well, with NGR in these markets up by 12%. Croatia's SuperSport, part of the Entain group, reported a 17% increase in revenue.
The company has raised its full-year forecast for 2024, now expecting group EBITDA to be between £1.04 billion ($1.3 billion) and £1.09 billion ($1.4 billion). These adjustments are attributed to strong revenue performance in the second quarter and revised timelines for regulatory implementations in Brazil and the Netherlands.
Entain has proposed an interim dividend of 9.3 pence ($0.12) per share, reflecting a 5% increase. The company maintains a robust balance sheet, with net debt standing at £3.3 billion ($4.2 billion) as of June 30, 2024, and cash reserves exceeding £1.3 billion ($1.6 billion).
In the first quarter of 2024, Entain reported a 3% increase in total group NGR, with the most significant growth observed in the CEE region—over 100%. However, the UK and Ireland saw declines in both online and retail revenue, attributed to regulatory challenges and market conditions.
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