REG - Entain PLC - Reiteration of FY24 EBITDA guidance

EntainAnnouncement

13/01/2025 07:00

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RNS Number : 0555T  Entain PLC  13 January 2025

13 January 2025

 

Entain plc

("Entain" or the "Group")

 

Reiteration of FY24 EBITDA guidance

 

Noting updated guidance from industry peers following sports results during
the trading period of 1 October to 31 December 2024 ("Q4"), Entain plc (LSE:
ENT), the global sports betting and gaming group, today reiterates its FY24
guidance.

BetMGM

On 29 July 2024, BetMGM's 1H-24 update announced that, consistent with 2024 as
an investment year, 2H-24 EBITDA was expected to be similar to the -$123m
EBITDA delivered in 1H-24.

Despite the customer friendly U.S. sports results seen during Q4, particularly
in October and December, BetMGM reiterates its previous FY24 EBITDA guidance
of approximately -$250m.

Entain

Entain's Q3 trading update on 17 October 2024 stated that Group EBITDA was
expected to be towards the top of the £1,040m-£1,090m guidance range(1).

Following operator friendly sports results during Q4, we now expect Group
EBITDA to be at the top of the £1,040m-£1,090m guidance range.

FY 2024 results

As scheduled, further details on trading performance and outlook for 2025 will
be provided by BetMGM and Entain on 4 February and 6 March 2025
respectively.

 

Notes

(1) £1,040m-£1,090m guidance range was provided at Entain's H1 Results (8
August 2024), and upgraded to be towards the top of the guided range at the Q3
update (17 October 2024)

 

Enquiries:

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

 

Upcoming dates:

BetMGM FY24 Update:                       4 February 2025

Entain plc FY24 Results:                      6 March 2025

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 AA rated by
MSCI. For more information see the Group's website: www.entaingroup.com
(http://www.entaingroup.com/) ` (http://www.entaingroup.com/) .

 

Important notices

Certain statements in this announcement are forward-looking statements which
are made in good faith, including with respect to Entain's current
expectations, intentions and projections regarding its 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 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 operates 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 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 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. 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. 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 any
of its 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 any of its Representatives in
connection with Entain and any responsibility and liability whether arising in
tort, contract or otherwise therefore is expressly disclaimed.

 

LEI: 213800GNI3K45LQR8L28

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