Entain Q1 2023 Financial Results – £378 million NGR (Shares Shoot Up in Sync)

Some impressive figures see the Entain Q1 2023 financial results go viral showing this is a UK company that grows during inflation & recession! (Image by Steve Buissinne from Pixabay)

The United Kingdom K London Stock Exchange listed sports and casino company has released its Q1 2023 results.

Entain signed a key partnership last year with a 50% share in BetMGM that produced very strong financial results on April 19^th for Q1 2023. The stock enjoyed a 5% jump in share price, trading at 1,405 GBX today.

Entain had a very successful final quarter of 2022. However, given some regulatory challenges in Germany and the UK, there were concerns about whether the global gaming company could continue this upbeat pace.

Entain’s strategy of buying exceptional brands such as BetMGM, Ladbrokes, Coral BetCity, 365scores and BWIN has proven to be a critical factor in the company’s success. The purchase of BetCity in the Netherlands made Entain the market leader in the online sports betting/gaming market.

The 365scores acquisition increased their visibility of sports content to an additional 15m users. Entain intends to improve consumer experience and information by utilizing its global reach and 365scores’ data-driven content.

Largest UK FTSE Gambling Companies: See the UK betting casino platforms and software providers also listed on the London Stock Exchange. 888Casino, 888Sports, and 888Poker is one the biggest platforms out there under 888 Holdings, which also own William Hill and Mr Green and has a market cap of £ 342.76 million. Plus, check out the Playtech software provider with a market cap of £  1.73 billion.

To recap the Entain Q1 Financial Results

The first-quarter performance of BetMGM was very impressive. The Net Gaming Revenue (NGR) for the online sportsbook was £377,970 million, a stunning 76% increase over the same time last year.

Entain projects that BetMGM will earn between £1.5b and £1.6b in total revenue in 2023. Earnings before interest, taxes, depreciation, amortization, or EBITDA, are expected to be positive for the joint venture in the year’s second half.

The Group Net Gaming Revenue (NGR) increased by 16%, which was up over 17% from the previous report last year.

Positive Financial Results… Possible Takeover…?

Entain has actually acquired so many companies that it is nearly too huge to be a takeover target… and perhaps that is the key strategy. Entain has had to resist takeover offers in the past. Early in 2021, MGM Resorts attempted to acquire Entain but was unsuccessful. DraftKings bid for Entain in September 2021, but it was rejected. At the beginning of 2023, there were reports that MGM might try to make another acquisition. However, once more, nothing came of it. Entain may not have to worry about unsolicited takeover offers in the near future given its strong back-to-back quarters and its hunger for acquisitions.

Entain has emphasized that it is the only worldwide operator with 100% of its revenue from regulated or regulating markets in order to highlight its continuous emphasis on advancement with its sustainability plan.

UK FTSE Company & Entain Competitor Flutter Ranked Among Top 25 Employers on LinkedIn

Flutter Entertainment secures a spot in the top 25 employers on LinkedIn’s 2023 Top Companies list. The list recognizes companies that have fostered employee growth, attracted talent and showcased a solid commitment to their workforce.

What does LinkedIn’s 2023 Top Companies list Consider?

• The ranking takes into account various factors, including employee growth, jobseeker interest, and talent engagement
• Flutter Entertainment is a leading global sports betting, gaming, and entertainment provider
• The company operates various famous brands, including Paddy Power, Betfair, Sky Betting & Gaming, PokerStars, and FanDuel
• Flutter has been focusing on fostering a diverse and inclusive workplace, providing equal opportunities for all employees
• The company’s commitment to employee well-being is evident through its mental health support initiatives, learning and development programs, and flexible work policies
• Flutter’s sustainability strategy, Positive Impact Plan’, aims to reduce its carbon footprint and contribute to environmental protection
• The company has also been recognized for its efforts in responsible gambling and promoting safer gaming practices
• In 2022, Flutter was awarded the “Safer Gambling Operator of the Year” title at the EGR Operator Awards

Key Takeaway: Top Companies list reflects its strong commitment to employee growth, well-being, and diversity, as well as its dedication to responsible gambling and environmental sustainability. You can see the official Flutter LinkedIn news report here.