Entain Sees Q1 Boost As Year Ahead Looks Good
UK based gambling company Entain who operate businesses Ladbrokes and Coral have reported their 1st quarter results showing that their strategy of acquisitions and mergers is paying off.
Entain reported online net gaming revenues jumping 11% for the first three months of 2023 to March 31, it was helped by the US and its BetMGM deal with US basketball tournament “March Madness” which was very successful for the company, seeing a 19% rise in customer activity compared to last year.
The company that operate PartyPoker and Bwin also saw a rise of 13% in its retail business and in total including the BetMGM business enjoyed a 17% rise in total net gaming revenues for the quarter.
Jette Nygaard-Andersen, Entain’s CEO, commented:
“2023 is off to a strong start, with continuing underlying momentum across our operations around the world. We are delivering both financially and strategically, with a record number of active customers enjoying our products, and we are executing on growth opportunities to further diversify and expand across regulated markets. In the US, BetMGM continues to grow in line with expectations and enjoyed a successful quarter which included the Super Bowl and March Madness.
Looking ahead, we remain confident that our customer focus, diversification and proven ability to grow organically and through M&A will enable us to demonstrate further progress against our strategy.”
