Ahead of investor meetings scheduled for the week commencing 9 September 2024, Entain plc (LON:ENT), the global sports betting and gaming group, has provided an update on further strategic progress and trading performance delivered so far in the second half of 2024.
New CEO
As announced on 22 July 2024, Gavin Isaacs joined Entain as Chief Executive Officer on 2 September 2024. To ensure a smooth transition, Stella David is working alongside Gavin until she succeeds Barry Gibson as Chair of Entain on 30 September 2024.
Further progress in US
Launched ahead of the 2024 NFL season kick off, BetMGM’s sports betting experience now includes enhanced parlay and player prop offerings powered by Angstrom’s differentiated market pricing capabilities, as well as new streamlined live betting and bet slip features. BetMGM is also now the first sports betting app to offer Nevada bettors seamless, nationwide connectivity through a single, digital wallet.
H2 trading to date
As evidenced in our H1 results on 8 August 2024, we continue to make strong progress with our focused execution bearing fruit across our operational performances. The improving momentum delivered during Q2 has continued, with Online Net Gaming Revenue (NGR) growth during H2 2024 to date ahead of our expectations.
· UK&I Online returned to YoY growth earlier than expected
o Accelerated recovery across gaming and sports, with sports NGR benefiting from both stronger volumes and margins
· International and CEE regions continue to perform well
· Retail performance across our regions remains in line with expectations
Notice of Q3 update
Entain will provide details on the period’s trading performance and outlook for the year at our Q3 update on 17 October 2024.
