Entain gains on €425 million CEE stake sale, reaffirms outlook

Entain

Today 13:59

** Shares of Ladbrokes owner Entain ENT.L up 3% at 573 pence
** ENT agrees to sell 20% stake in its Central and Eastern Europe business to partner EMMA Capital for €425 mln ($482 million)
** Co expects £20 mln annualised interest saving from debt reduction
** Co says it remains comfortable with market expectations for full-year group core profit
** ENT now expects core profit margin for its online division to be in the range of 21% to 22%, down from 23% to 24%
** Co is also on track to generate about £500 mln of annual adjusted cashflow in 2028
** As of last close, ENT down ~27.68% YTD

 


($1 = 0.8819 euros)

 (Reporting by Megha Kumari in Bengaluru)
 ((Megha.Kumari@thomsonreuters.com;))