REG - Entain PLC - Q1 Trading Update

EntainAnnouncement

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RNS Number : 6524A  Entain PLC  16 April 2026

16 April 2026

Entain plc

("Entain" or the "Group")

 

Q1 delivers strong volume growth; FY26 guidance reiterated

 

Entain plc (LSE: ENT), the global sports betting and gaming group, today
reports trading for the period 1 January to 31 March 2026 ("Q1").

 

All figures constant currency(1) unless otherwise stated.

 

•  Group Net Gaming Revenue ("NGR") +3%(1) in line with expectations,
driven by continuing momentum and strong volume(2) growth (+8%(1))

•  Online NGR up +5%(1), reflects strong underlying performances across
both Gaming (+9%(1)) and Sports (-1%(1)) despite sports margin down 1.3pp year
on year

◦ UK&I +13%(1), and Australia +12%(1), ahead of expectations

◦ Online volumes(2) +10%(1) YoY with growth across all of the Group's
largest markets

•  FY26 guidance reiterated: expects Online NGR growth of 5-7% on a
constant currency basis, and remains comfortable with market expectations(4)

 

Stella David, CEO of Entain, commented:

"We entered 2026 with strong momentum which has continued in Q1, with strong
volume(2) growth across our diversified portfolio. This further demonstrates
our ongoing strategic execution and strengthening operations, and also
highlights the growth embedded in our globally scaled business.

Our strong and resilient business has started the year well, and we continue
to build on this momentum. Our sharper focus and optimisation initiatives
reinforce our conviction in delivering sustainable growth and improving cash
generation. Entain remains well positioned to be a long-term industry winner,
seizing the many opportunities ahead, and I am confident in our future."

 

     Q1 2026: 1 January to 31 March
                                NGR    Volume(2)  Gaming NGR  Sports NGR  Sports Wagers  Sports Margin

     Group                      3%     8%         7%          (3%)        10%            (1.5pp)
     Online                     5%     10%        9%          (1%)        11%            (1.3pp)
     Retail                     (3%)   3%         1%          (6%)        6%             (1.9pp)

     UK & Ireland               6%     9%         8%          1%          9%             (1.1pp)
     Online UK&I                13%    14%        12%         8%          9%             (0.4pp)
     Retail UK&I                (1%)   4%         2%          (3%)        9%             (1.8pp)

     International              1%     9%         8%          (3%)        11%            (1.5pp)
     Online International       2%     10%        8%          (2%)        12%            (1.4pp)
     Retail International       (4%)   5%         (4%)        (5%)        4%             (1.7pp)

     CEE                        (6%)   2%         (3%)        (8%)        6%             (2.7pp)
     Online CEE                 (1%)   6%         2%          (4%)        10%            (2.3pp)
     Retail CEE                 (30%)  (21%)      (54%)       (25%)       (13%)          (4.2pp)

     BetMGM                     6%
     Online                     7%                9%          4%          3%             0.6pp
     Retail                     (43%)

     Group (inc 50% of BetMGM)  3%

Q1 trading highlights

•  Group NGR exc. US up +3%(1), with  strong volumes(2) across both Online
(+10%(1)) and Retail (+3%(1)) partially offset by softer sports margins -1.5pp

◦ Online NGR up +5%(1) (Gaming 9%(1), Sports -1%(1)) supported by
double-digit volume(2) growth

◦ Retail NGR down -3%(1) reflecting -1.9pp YoY sports margin headwind

•  UK & Ireland NGR up +6%(1) (Online +13%(1), Retail -1%(1))

◦ Strong UK&I Online NGR growth +13%(1), reflecting ongoing market share
gains with continued  momentum across both gaming and sports

◦ UK Retail continues to outperform the underlying market supported by
growth in gaming (+2%(1)) and volumes(2) (+4%(1))

•  International NGR up +1%(1) (Online +2%(1), Retail -4%(1))

◦ Australia returned to strong positive YoY growth with NGR +12%(1), ahead
of expectations

◦ +9%(1) YoY volume(2) growth partially offset by customer-friendly sports
results, particularly in Brazil and Italy

•  Entain CEE NGR -6%(1) (Online-1%(1), Retail -30%(1))

◦ Poland benefitted from its migration to CEE SuperSport platform, whilst
highly customer-friendly sports results (Croatia sports margin -7.1pp YoY)
weighed on NGR due to football-heavy sports mix

•  BetMGM Q1 Net Revenue of $696m, +6%(1), (iGaming +9%(1), Online Sports
+4%(1)) reflecting robust iGaming growth alongside softer Online Sports growth
including player friendly sports results

◦ Q1 Adjusted EBITDA(6) of $25m with positive contributions from both
iGaming and Online Sports

•  Total Group NGR, including 50% share of BetMGM up +3%(1)

 

Outlook:

Entain confirms its FY26 guidance of 5-7% Online NGR growth on a constant
currency(1) basis. Entain remains comfortable with market expectations(4) for
FY26 Group Underlying EBITDA and reiterates its confidence in generating at
least £500m of annual adjusted cashflow(5) in 2028.

As announced on 14 April 2026, BetMGM continues to maintain focus on its areas
of strength and delivering profitable and sustainable growth, with FY26
guidance updated to reflect year-to-date performance and revised outlook
expectations. BetMGM now expects FY26 revenue of between $2.9-$3.1 billion(3)
with Adjusted EBITDA(6) expected to be towards the lower end of its existing
guidance range of $300-$350 million.

 

Notes

 

 1  Growth on a constant currency basis is calculated by translating both current
    and prior year performance at the 2026 exchange rates
 2  Volume growth adjusts NGR to remove the impact of sports margin fluctuations
    (assuming the same sports margin in both years)
 3  BetMGM's guidance provided at FY25 results (4 February 2026)
 4  As at 10 April 2026, Company compiled consensus for FY26 Group EBITDA of
    £1,131m (excluding BetMGM parent fees) based on 11 analyst estimates
 5  Cashflow before working capital, equity dividends, acquisitions and associated
    financing
 6  BetMGM Adjusted Underlying EBITDA is defined as Underlying EBITDA before
    parent fees. Parent fees are the operating expense to BetMGM for the provision
    of certain licenses and services by the parent entities, MGM and Entain, and
    their affiliates

 

 

 

Q1 Conference Call & Audio Webcast

An analyst call will be held today, Thursday 16 April 2026 at 9:00am BST.
Participants may join via webcast or by conference call dial in, approximately
10 minutes before the start of the call.

Webcast can be accessed by registration in advance via Registration
(https://www.netroadshow.com/events/login/LE9zwo3jGLyITqmQN2ta2t4FZdMjYoDEQqP)
or on the day via: Entain 2026 Q1 Update
(https://kvgo.com/IJLO/Entain_2026_Q1_Trading_Update)

To participate in the Q&A, please register in advance to receive access
code & pin, or use dial ins below for operator assisted registration on
the day:

              UK                       +44
20 3936 2999

              US                       +1
855 979 6654

              Global Dial-In Numbers

              Access Code:    302361

A replay and transcript will be available on our website: Results Centre -
Entain Group (https://www.entaingroup.com/investor-relations/results-centre)
 

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)

 

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, being AAA rated by MSCI, and a member of the
S&P Global Sustainability Yearbook and the FTSE4Good. For more information
see the Group's website: 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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