Entain reported revenue of £3.83 billion for the period ended 31 December 2021, an increase of 8% on the previous year. The group reported gross profit of £2.43 billion and EBITDA of £881.7 million, up 6% and 5% respectively. Profit after tax was £275.6 million.
Highlights for the period included a 12% rise in net revenue from online games, the ninth straight year of double-digit online growth. And in retail, year-end volumes have returned to more than 90% of pre-Covid levels.
Entain added that BetMGM “continues to strengthen itself as a leader in the fast-growing US market”, established as the #2 sports betting and iGaming operator with 23% market share in the fourth quarter in the markets it serves.
Entain CEO assesses company performance
“Our full year results demonstrate once again that Entain is a company with growth tied to its business model. Our strong performance is underpinned by the Entain platform, which encompasses the compelling combination of our proprietary technology, our exceptional people around the world and our industry-leading operational capabilities,” said Jette Nygaard-Andersen, CEO of Entain.
“It is this unique platform that allows us to deliver an ever-better customer experience, embrace emerging technology and consumer trends, and grow into new markets and product areas. All of our key markets performed well.”
“In particular, BetMGM in the US has seen a fivefold increase in net gaming revenue over the previous year and is poised to challenge for the number one position in the markets in which it operates. Elsewhere, our retail business has rebounded strongly and volumes have now returned to 90% of pre-Covid levels as restrictions eased and customers returned to our stores.”
“As always, I would like to thank each of our colleagues for their dedication, hard work and professionalism in helping to achieve these results. Given the quality of our people, the broad and continued growth of the business, their continued momentum and the investments we are making in innovation to support our future expansion, we remain confident in our financial performance for FY22 and beyond,” concluded Nygaard-Andersen.
