Entain has announced a 3% increase in its group net gaming revenue (NGR) for the first quarter, aligning with market expectations. This growth was primarily driven by robust online performance in the UK, Ireland, and Australia, which helped mitigate the impact of weaker margins in sports betting.
The company attributed its total NGR growth to an 8% rise in betting volumes. Online NGR experienced a 5% boost, largely due to a 9% surge in iGaming, which compensated for a slight 1% dip in the sports segment.
Notably, the online market in the UK and Ireland excelled, with NGR climbing 13% thanks to ongoing market share gains. Australia mirrored this performance, also achieving a 13% growth rate, with both regions exceeding expectations. Overall, online volumes across Entain’s primary markets rose by 10% year-on-year.
Entain reaffirmed its guidance for the full year of 2026, anticipating online NGR growth between 5% and 7% when adjusted for constant currency.
The company expressed confidence in meeting market expectations for group EBITDA, projected at £1.13 billion ($1.53 billion), and a minimum of £500 million ($677 million) in annual adjusted cash flow by 2028.
CEO Stella David remarked, “We started 2026 with strong momentum, which has persisted into Q1, showcasing substantial volume growth across our diverse portfolio. This reflects our effective strategic execution and enhanced operations, highlighting the growth potential within our globally scaled business.”
She added, “Our resilient business has had a strong start to the year, and we are committed to maintaining this momentum. Our focused approach and optimization strategies reinforce our belief in achieving sustainable growth and enhancing cash generation. Entain is well-positioned to emerge as a long-term leader in the industry, ready to capitalize on numerous upcoming opportunities, and I am optimistic about our future.”
In the UK and Ireland, total NGR increased by 6%, with online growth of 13% offsetting a 1% decline in retail operations. The company announced plans to close 39 Ladbrokes shops in Ireland this April, which constitutes over a third of its presence in the country.
On the international front, NGR saw a 1% rise, as a 2% increase in online revenue was countered by a 4% drop in retail. Volume growth of 9% was affected by favorable sports outcomes for customers, particularly in Italy and Brazil.
Additionally, Entain revealed plans to pursue three out of the 15 available iGaming licenses in New Zealand when the market opens in 2027.
Conversely, the company's operations in Central and Eastern Europe (CEE) experienced a 6% decline in NGR, largely due to a 30% fall in retail revenue, while online revenue decreased by 1%.
In a separate announcement, BetMGM, Entain’s joint venture with MGM Resorts International, reported a 6% revenue increase in Q1, reaching $696 million. iGaming revenue rose by 9%, and online sports betting grew by 4%.
BetMGM recorded an adjusted EBITDA of $25 million and updated its full-year revenue forecast, expecting figures between $2.9 billion and $3.1 billion, with EBITDA anticipated at the lower end of its previous guidance of $300 million to $350 million.