Entain reports strong sales growth as NFL season begins in US
- Entain has reported strong sales growth, particularly through its BetMGM sports betting app in the US.
- The company has upgraded its revenue outlook for online gaming in the UK and Ireland from a decline to a growth of 1% to 5%.
- With new leadership and a recovering financial performance, Entain is positioned for a positive future in the gaming industry.
Entain, a leading global sports betting and gaming firm, has reported a significant increase in sales growth as the NFL season commences in the United States. The company has made notable progress through its BetMGM sports betting app, which is a joint venture with MGM Resorts International. Since July, online net gaming revenues have exceeded the company's expectations, indicating a robust performance in the second half of the year. In the UK and Ireland, Entain's online revenues have also rebounded, returning to growth earlier than anticipated. This positive trend comes as the company has seen an uptick in sports betting activity, prompting an upgrade in its revenue outlook from a projected decline to an expected growth of 1% to 5% for the year. This shift reflects a stronger-than-expected first half performance. The gambling group has been working diligently to recover from significant financial setbacks, including a £585 million settlement related to an investigation into alleged bribery at its former Turkish operations. The company is now focused on moving past these challenges, with finance chief Rob Wood expressing optimism about a renewed financial trajectory. With the appointment of new CEO Gavin Isaacs, who joined the company at the beginning of the month, Entain is poised to enhance its operational strategies and further improve its market position. The combination of a recovering financial outlook and a strengthened sports betting experience through BetMGM positions Entain favorably as it navigates the competitive landscape of the gaming industry.