AUS
NZ
UK
CA
USA
IND
Highlights
- Steady Revenue Growth: Total Group Net Gaming Revenue (NGR) up 6% (9% at constant currency), with online NGR (excluding US) up 9%.
- Market Acceleration: UK & Ireland online NGR grew 21% in Q4, while Brazil surged 65% in Q4, rebounding from a slower start.
- Profitability & Cash Flow: Group EBITDA reached £1.09bn (+12% YoY), with online EBITDA margin at 25.3%, ahead of expectations.
Entain plc (LSE:ENT), a global leader in sports betting and gaming, delivered robust financial results for the year ending 31 December 2024, showcasing revenue growth, expanding margins, and accelerating performance in key markets. The company remains on track to achieve its 2025 and medium-term profitability goals.
Revenue Performance and Market Rebound
Entain’s Total Group NGR rose 6% year-on-year (9% at constant currency), including its 50% share of BetMGM in the US. Online NGR (excluding US operations) grew by 9% (12% at constant currency), with momentum building through the year and a standout 13% growth in Q4 — boosted by favorable sports margins.
The company saw exceptional growth in its “must-win” markets:
- UK & Ireland: Online NGR returned to growth ahead of schedule, rising 21% in Q4.
- Brazil: NGR skyrocketed 41% YoY, accelerating from 9% in Q1 to 65% by Q4, signaling a successful market rebuild.
- United States (BetMGM): BetMGM’s strategic refinement and accelerating growth give Entain confidence in delivering positive EBITDA in 2025 and targeting $500m EBITDA in the coming years.
Margin Expansion and Profitability
Operational efficiencies and higher-than-expected growth drove Entain’s Online EBITDA margin to 25.3%, surpassing internal forecasts. Total Group EBITDA came in at £1.09bn, up 12% YoY and in line with upgraded guidance.
Positive Outlook for FY25 and Beyond
Entain remains optimistic about its future growth trajectory:
- Online NGR is expected to grow in line with underlying market trends.
- The company is confident in meeting current market expectations for FY25.
- A clear pathway to generating over £0.5bn in annual adjusted cash flow in the medium term reinforces Entain’s long-term strength.
