Entain H1 net gaming revenue rises as World Cup boosted volumes
Entain H1 net gaming revenue rises as World Cup boosted volumes
Overview
UK sports betting and gaming group's H1 net gaming revenue rose 5% on constant currency basis
Underlying H1 EBITDA fell 2% yr/yr, mainly due to higher UK online gambling tax
Company agreed initial 20% divestment of Entain CEE as part of phased exit strategy
Outlook
Entain reiterates FY26 Online NGR growth guidance of 5-7% on a constant currency basis
Company maintains FY26 Group Underlying EBITDA guidance of £910m-£960m, midpoint in line with market expectations
FY26 Online Underlying EBITDA margin expected at 21-22%, reflecting CEE divestment and UK tax mitigation
Result Drivers
WORLD CUP IMPACT - Co said strong player engagement and product enhancements during the expanded Men's World Cup boosted volumes and new customer acquisition
UK & IRELAND GROWTH - Strong online and retail performance in UK & Ireland, with online NGR up 13% and market share gains despite higher gambling taxes
AUSTRALIA MOMENTUM - Online NGR in Australia rose as new leadership, product improvements and disciplined marketing drove market share gains
Company press release: ID:nRSM4877Qa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Gaming Revenue |
| GBP 2.55 bln |
|
H1 Adjusted EBITDA |
| GBP 479.30 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the casinos & gaming peer group is "buy"
Wall Street's median 12-month price target for Entain PLC is GBp1,000.00, about 78.6% above its August 12 closing price of GBp560.00
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)