The great Entain reset continues with the UK’s top gambling omnichannel reporting a seven percent increase in Net Gaming Revenue (NGR) in its H1, ending June 30.
NGR from Entain’s non-U.S. operations was up three percent, while NGR from its BetMGM U.S. sportsbook and iGaming venture with MGM Resorts International surged by an impressive 35 percent.
Online NGR–excluding the U.S.–rose five percent, supported by higher sports and gaming volumes, with notable ramped-up performance in its home UK and Ireland markets, where digital revenue surged by 21 percent on a constant currency basis.
Meantime, in line with expectations for the newly-regulated market, Brazil delivered a welcome 21 percent rise in NGR.
Mega BetMGM Input
As previously reported in these pages, BetMGM’s first-half Net Revenue reached US$1.35 billion (£1bn), with iGaming up 28 percent and online sports up 61 percent, resulting in EBITDA of US$109 million (£80.97m), compared to a loss in the prior year.
Entain’s group EBITDA, excluding BetMGM, was £583 million (US$784.7m), up 11 percent, while total group EBITDA including BetMGM was £625m (US$841.24m), up 32 percent.
The company–owner of Ladbrokes and Coral and a cluster of other top gaming brands around the world–has now upgraded its Full Year guidance to up to £1.15 billion (US$1.54bn), some seven percent more–on a constant currency comparison–with FY24.
The increase reflects the impact of favourable US sports results, gaming tax changes, market access savings, and revised state launch timings, said Entain in its financial statement.
Leadership
Entain also confirmed leadership changes during H1, with long-serving Stella David officially appointed CEO in April 2025 and Pierre Bouchut becoming non-executive Chair in August.
Given the positive fiscals, the UK superchannel has declared an interim dividend of 9.8p per share, five percent up on H1, 2024.
“I am delighted by the ongoing momentum and strong performance that both Entain and BetMGM have delivered in H1 2025,” affirmed Entain CEO David in a statement to the media.
“Entain’s transformation journey is well underway, gathering pace and is supported by our high-quality portfolio of iconic brands with podium positions in attractive markets.
“Our business is getting stronger, fitter and faster, with these results reinforcing our confidence in driving sustainable underlying growth and generating more than £500 million in cash annually in the medium term.”
We’ll count that.
