Entain reported a profit of £ 113.8 million for the year 2020, compared to a loss of £ 131.2 million booked in 2019, while revenue was stable at £ 3.6 billion.
In its commercial update for fiscal year 2020, Entain posted gross profit of £ 2.3 billion, a 3% decline from the previous year, with gains up 10% and reaching £ 862.1 million.
The group highlighted BetMGM, a joint venture in partnership with MGM Resorts, as an important growth point in 2020, with its market share increasing 18% in the 12 states in which it is now operating in the USA. The operator was the leader in virtual games in January 2021 in the country, reaching an annual revenue of £ 127 million.
“Today’s results demonstrate the extraordinary resilience and professionalism of our people, as well as the importance of having a truly diversified business model that does not depend excessively on any product, brand, territory or channel,” said Entain CEO, Jette Nygaard -Andersen.
She added: “The strong momentum in our business, the rapid growth of our joint venture in the United States and our continued international expansion mean that we are more confident than ever in the long-term prospects for Entain.”
Entain presents expansion plans for the future
Entain also projected its future in its commercial report, articulating plans for expansion in regulated markets with the launch of bwin in Colombia and the acquisitions of Enlabs AB in the Baltic and Bet.pt, in Portugal.
“We are a digital entertainment company with a clear strategic focus on growth and sustainability. That’s why we have a fantastic platform to use our proprietary technology to grow in new markets and reach new audiences worldwide, “concluded Nygaard-Andersen.
