Boosted by its increasingly profitable sprog, UK gambling giant Entain today reaffirmed a sunny side up outlook for its Full Year 25.
The omnichannel, owner of the celebrated Ladbrokes Coral brands, reported a six percent year-on-year increase in total group net gaming revenue (NGR) for Q3 2025, including its half share of BetMGM, with growth of seven percent on a constant currency basis.
Online NGR, excluding the U.S., grew five percent, supported by solid momentum across core markets, despite a lower sports margin in September. Retail operations delivered a three percent increase.
Entain’s UK and Ireland division reported NGR growth of eight percent, driven by a handy 15 percent rise in iGaming; while retail rose two percent. The Isle-of-Man-headquartered group’s international markets segment also grew one percent, with Central and Eastern Europe (CEE) performing particularly strongly, NGR here growing by 10 percent.
Irony
The irony of CEE success would not have been lost on previous Entain CEO Jette Nygaard-Andersen, who came in for damning criticism for her pivot to this market, following the company’s Turkey corruption scandal.
Most heartening of all during Q3 was the performance of BetMGM, the Entain-MGM Resorts International iGaming joint-venture in the United States.
BetMGM exceeded expectations in the quarter, generating US$667 million in net revenue, up 23 percent year-on-year.
The U.S. iGaming sprog has now raised its Full Year 2025 guidance to at least US$2.75 billion in net revenue and approximately US$200 million in EBITDA. And the operator, now firmly ensconced behind Flutter’s FanDuel and DraftKings as the third leading digital and online sports betting book in America, also expects to return at least US$200 million in cash to its parent companies.
Entain has now reiterated its FY25 guidance, forecasting around seven percent iGaming NGR growth on a constant currency basis and full-year group EBITDA in the range of £1.1 billion to £1.15 billion.
Transformation
“Entain’s transformation continues at pace, with our strategic execution and expanding bandwidth delivering growth across our portfolio,” affirmed CEO Stella David.
“Whilst we still have more to do, our Q3 performance is further evidence of the quality of our diverse business and its underlying momentum.
“BetMGM’s continued success and strong year to date performance is driven by our strengthened sports product and leading iGaming offering, coupled with refined player engagement.
“We are delighted that BetMGM is achieving sustainable profitable growth and expects to begin distributing cash to parents later this year.
“With Entain becoming ever stronger and BetMGM growing profitably, we are increasingly confident in delivering consistent underlying growth and generating more than £500 million of annual cash from 2028.”
