Entain Is In The Room, Omnichannel Reports Big Rise In 2022 NGR
Omnichannel Entain–owners of Ladbrokes Coral–has reported a big rise in year-on-year Net Gaming Revenue (NGR).
Thanks to a significant retail bounce-back, following the end of Covid19 pandemic lockdowns, the company has marked a 12 percent increase in NGR for its 2022 Financial Year.
The storied UK High Street bookies, and Entain retail outlets in Belgium, Croatia, Ireland and Italy, registered an impressive 66 percent surge in NGR last year, the FTSE100 gambling giant said in a Trading Update.
“2022 [was] another year of strong financial, operational and strategic progress for Entain,” commented Chief Executive Jette Nygaard-Andersen.
“We have continued to grow our revenues in a sustainable and diversified way by expanding our global footprint, broadening our customer appeal, entering new areas of entertainment, and providing a safe environment for our customers.
“All of this has led to a record number of active customers in Q4, as well as a full year EBITDA performance ahead of our previous expectations.”
Without providing specific financial figures, Entain also reported that 2022 NGR from its iGaming verticals was down a fraction — by one percent.
More detail, released last week by MGM Resorts International, was available on Entain’s BetMGM online gaming joint-venture with the US gambling behemoth.
BetMGM NGR catapulted 71 percent to US$1.44 billion (£1.16bn/€1.31bn) last year, comfortably ahead of prediction. And the iGaming and sportsbook outfit is now on target to hit positive EBITDA by this year’s Q4 at the latest, Entain said in its Trading Update.
Meantime, as previously reported in these pages, Entain is also planning to pull out of all unregulated international markets by this year’s end.