Entain’s Q3 results demonstrate ‘sustainable, consistent and diversified growth,’ says CEO

Entain’s CEO Jette Nygaard-Anderson has said that the company’s financial results for the third quarter of 2021 demonstrate its “continuing ability to deliver sustainable, consistent and diversified growth.”

Commenting as the company recorded its 23rd consecutive quarter of double-digit online growth, with online net gambling revenue (NGR) up 10 per cent, she said the positive result shows the company is able to grow ahead of its markets.

Excluding Germany, this figure was even stronger, with online NGR up by 18 per cent.

She also added that the company continues to leads the industry in the “all-important” area of player protection, and said that the company’s addressable market is expected to more than triple to over $160 billion (€138.47 billion).

“This will be driven by the significant opportunity in the US, where we are now challenging for the number one market position, our growth plans in other new and existing markets, and our strategy of entering into new areas of interactive entertainment,” she said.

Ms Nygaard-Anderson attributed the successes to Entain’s strong product offering, saying that “by offering customers ever more engaging products, while leveraging our scale and technology, we drive the flywheel effects of secular growth dynamics that can triple the size of our business.”

NGR more generally also increased during the period, up four per cent against a period of high growth in the prior year.

Retail NGR was up one per cent, with UK volumes receiving towards pre-COVID levels, and activity steadily rebuilding in Europe.

In the US, Entain’s collaborating with MGM Resorts International, BetMGM is continuing to deliver strong growth, with a 23 per cent market share across the country in sports betting and iGaming for the three months to August.

Entain’s FY2021 Group earnings before interest, tax, depreciation and amortisations are expected to be in line with previous guidance of £850 million (€1 billion) to £900 million (€1060.8 million).

“We remain very confident in Entain’s future prospects,” concluded the CEO.