REG - Entain PLC - BetMGM - Upgraded FY 2025 Guidance

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RNS Number : 9569M  Entain PLC  16 June 2025

16 June 2025

THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIES AS INSIDE INFORMATION

Entain plc

("Entain" or the "Group")

 

BetMGM - Upgraded FY 2025 Guidance

Continuing strong momentum supports increased confidence and FY 2025 guidance
upgrade

 

 

Entain plc (LSE: ENT), the global sports betting and gaming group, is today
providing an update to FY 2025 guidance for BetMGM LLC ("BetMGM"), one of the
leading sports betting and iGaming operators across North America, jointly
owned by Entain plc (LSE: ENT) ("Entain") and MGM Resorts International (NYSE:
MGM) ("MGM Resorts").

 

·      BetMGM's positive momentum seen during 1Q 2025 has continued for
the period 2Q 2025 to 13 June 2025, with strong Net Revenue growth across both
iGaming and Online Sports, driven by handle(1) growth

o  Trading for the period is broadly consistent with +34% YoY Net Revenue
growth delivered in 1Q 2025

·      This continued strength provides BetMGM increased confidence in
its performance for 2025 and as a result BetMGM upgrades its guidance for FY
2025:

o  FY 2025 Net Revenue is now expected to be at least $2.6 billion (up from
the previous guidance range of $2.4bn to $2.5bn(2,3))

o  FY 2025 EBITDA is now expected to be at least $100 million (up from the
previous guidance to be EBITDA positive(2,3))

o  Reiteration of the expectation that Online Sports will be contribution(2)
positive for FY 2025, in addition to strong contribution(2) from iGaming

·      BetMGM remains excited about the significant opportunities ahead.
Its strengthened business, revised strategic approach, and performance
momentum, further reinforce its confidence in future growth prospects and
pathway to $500 million EBITDA in the coming years.

 

BetMGM looks forward to providing further details on 2Q 2025 performance and
guidance at its H1 update on Tuesday 29(th) July 2025.

 

This announcement contains information that qualifies or may qualify as inside
information within the meaning of Article 7 of the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of English law by virtue of the European
Union (Withdrawal) Act 2018. The person responsible for releasing this
announcement on behalf of Entain is Simon Zinger, Group General Counsel.

Upon the publication of this announcement via a regulatory information
service, this inside information is now considered to be in the public domain.

 

 

 Contacts:
 Entain plc
 Investor Relations                    investors@entaingroup.com (mailto:investors@entaingroup.com)

 Media                                 media@entaingroup.com (mailto:media@entaingroup.com)

 Sodali & Co                           Tel: +44 (0) 20 7250 1446
 Rob Greening/Russ Lynch/Sam Austrums  entain@sodali.com (mailto:entain@sodali.com)

Notes:

1.   Handle is defined as the total Online Sports handle (cash + bonus
bets).

2.   Guidance provided at BetMGM's FY24 update (4 February 2025).

3.   Net Revenue, EBITDA, and Contribution are based on how management
analyzes the performance of the business, which are not prepared in accordance
with GAAP. Refer to "Non-GAAP Financial Information" section below for
additional detail.

 

Forward-looking statements

Certain statements in this announcement are forward-looking statements which
are made in good faith, including with respect to Entain's and BetMGM's
current expectations, intentions and projections regarding their respective
future performance, strategic initiatives, anticipated events or trends and
other matters that are not historical facts and which are, by their nature,
inherently predictive, speculative and involve risks and uncertainty because
they relate to events and depend on circumstances that may or may not occur in
the future. All statements that address expectations or projections about the
future, including statements about operating performance, strategic
initiatives, objectives, market position, industry trends, general economic
conditions, expected expenditures, expected cost savings and financial results
are forward‐looking statements. Any statements contained in this
announcement that are not statements of historical fact are, or may be deemed
to be, forward‐looking statements. These forward-looking statements, which
may use words such as "aim", "anticipate", "believe", "could", "intend",
"estimate", "expect", "may", "plan", "project", "will" or words or terms of
similar meaning or the negative thereof, are not guarantees of future
performance and are subject to known and unknown risks and uncertainties.
There are a number of factors including, but not limited to, commercial,
operational, economic and financial factors, that could cause actual results,
financial condition, performance or achievements to differ materially from
those expressed or implied by these forward-looking statements. Many of these
risks and uncertainties relate to factors that are beyond Entain's or BetMGM's
ability to control or estimate precisely, such as changes in taxation or
fiscal policy, future market conditions, currency fluctuations, the behaviour
of other market participants, the actions of governments or governmental
regulators, or other risk factors, such as changes in the political, social
and regulatory framework in which Entain and BetMGM operate or in economic or
technological trends or conditions, including inflation, recession and
consumer confidence, on a global, regional or national basis. Given those
risks and uncertainties, readers are cautioned not to place undue reliance on
forward-looking statements. Forward-looking statements speak only as of the
date of this announcement. Entain and its affiliates and BetMGM, and any of
its or their respective directors, officers, partners, employees, advisers or
agents (collectively, "Representatives") expressly disclaim any obligation or
undertaking to update or revise publicly any forward-looking statements,
whether as a result of new information, future events or otherwise unless
required to do so by applicable law or regulation.

 

In particular, no statement in this announcement is intended to be a profit
forecast or profit estimate and no statement of a financial metric (including
estimates of net revenues from operations, EBITDA, profit before tax, free
cash flow or net debt) should be interpreted to mean that any financial metric
for the current or future financial years would necessarily match or exceed
the historical published position of Entain and its subsidiaries or BetMGM.
Certain statements in this announcement may contain estimates. The estimates
set out in this announcement have been prepared based on numerous assumptions
and forecasts, some of which are outside of Entain's influence and/or control,
and is therefore inherently uncertain and there can be no guarantee or
assurance that it will be correct. The estimates have not been audited,
reviewed, verified or subject to any procedures by Entain's auditors or
BetMGM's auditors. Undue reliance should not be placed on them and there can
be no guarantee or assurance that they will be correct.

 

This announcement is being issued by and is the sole responsibility of Entain.
No representation or warranty, express or implied, is or will be made as to,
or in relation to, and no responsibility or liability is or will be accepted
by or on behalf of, Entain (apart from the responsibilities or liabilities
that may be imposed by the Financial Services and Markets Act 2000, as amended
or the regulatory regime established thereunder) or by its affiliates or by
BetMGM or any of their Representatives as to, or in relation to, the accuracy,
adequacy, fairness or completeness of this announcement or any other written
or oral information made available to or publicly available to any interested
party or its advisers or any other statement made or purported to be made by
or on behalf of Entain or any of its affiliates or BetMGM any of their
Representatives in connection with Entain or BetMGM and any responsibility and
liability whether arising in tort, contract or otherwise therefore is
expressly disclaimed.

 

About BetMGM

BetMGM is a market leading sports betting and gaming entertainment company,
pioneering the online gaming industry. Born out of a partnership between MGM
Resorts International (NYSE: MGM) and Entain Plc (LSE: ENT), BetMGM has
exclusive access to all of MGM Resorts' U.S. land-based and online sports
betting, major tournament poker, and online gaming businesses. Utilizing
Entain's U.S.-licensed, state-of-the-art technology, BetMGM offers sports
betting and online gaming via market-leading brands including BetMGM, Borgata
Casino, Party Casino and Party Poker. Founded in 2018, BetMGM is headquartered
in New Jersey. For more information, visit www.betmgminc.co
(http://www.betmgminc.co/) m

 

About Entain plc

Entain plc (LSE: ENT) is a FTSE100 company and is one of the world's largest
sports betting and gaming groups, operating both online and in the retail
sector. The Group owns a comprehensive portfolio of established brands; Sports
brands include BetCity, bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds,
Sportingbet, Sports Interaction, STS and SuperSport; Gaming brands include
Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and
PartyCasino. The Group operates the TAB NZ brand as part of a long-term
strategic partnership with TAB New Zealand. The Group owns proprietary
technology across all its core product verticals and in addition to its B2C
operations, provides services to a number of third-party customers on a B2B
basis.

The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and
iGaming in the US. Entain provides the technology and capabilities which power
BetMGM as well as exclusive games and products, specially developed at its
in-house gaming studios. The Group is tax resident in the UK and is the only
global operator to exclusively operate in domestically regulated or regulating
markets operating in over 30 territories.

Entain is a leader in ESG, a member of FTSE4Good, the DJSI and is AAA rated by
MSCI. For more information see the Group's website: www.entaingroup.com
(http://www.entaingroup.com)

LEI: 213800GNI3K45LQR8L28

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