Did you know Entain is number 2 in the US? Entain has long been one of the top UK gambling firms. Now it is becoming a US powerhouse. (Image from entaingroup.com)
World-leading sports betting company and UK London Stock Exchange-listed firm, Entain has its interim numbers for the 6-month period which ended 20 June 2021 and has published them today, with a note of significant progress in the United States focused business. Entain and MGM Resorts combined group, BetMGM, has continued its powerful performance and finds itself now in a prime position to record further success heading into the second half of the year. The revenue amassed in the first half of the year was $357 million. Earlier this week followed the Entain stock prices, as it is one of the iGaming companies to keep an eye on for those looking to place a bet on the stock market.
In that report, Entain shares were worth 1957 GBX at the time of writing the report. Of course, the stock market can change at any time, but Entain is still solid and in fact shares at the close of business for the London Stock Exchange yesterday saw Entain end the week with a per-share value of 1964 GBX. A small rise, but also a show of solidarity and it is a nice calm and collective rise from its low for the week which was 1,944 GBX so a pretty solid end and next week we are eyeing up further growth – especially after we know how well Entain is doing stateside. Let’s take a look, shall we?
Entain now firmly believes that with the revelation of the recent figures, it is well and truly cemented as the United States number 2 iGaming and sports betting operator. With a 22% of market share, Entain has every right to believe this. In addition, it currently holds 30% of the market share in iGaming, which makes it the nation’s number 1 operator for iGaming spread across the various states where online gambling is legal.
Entain Online Growth
Online growth for Entain was demonstrated by a 55% rise in all group sportsbook revenue, amassing over $1 billion. Entain’s sportsbook portfolio managed to register $9.7 billion of wagers overall. Entain’s platform improves time and time again. The quality of product and the diversification that the business offer has allowed the company to produce 22 consecutive growths online, while also progressing well with strategic priorities, according to Jette Nygaard-Andersen, company CEO.
Nygaard-Anderson also made a special mention for all the dedication and hard work by everyone connected to the company, stating that if it wasn’t for those people, who are connected from all over the globe, the company’s market-leading technology would count for nothing. BetMGM is not slowing down in the United States, in fact, in recent times that have further solidified its position as the second-biggest operator. The market for sports and iGaming is on the up, and the company believe that in 12 months’ time, they will be operational in approximately 20 states, which represents 33% of all adults in the United States.
Entain’s path for sustainability and growth is a long one and long may it continue. Also, its strength of platform is unique and puts the company at the centre of entertainment, gaming and media. This model provides Entain with exciting prospects, which will power growth further for many more years in the future.
BetMGM Growth
On the 21 April, BetMGM announced that by 1 January 2022, there will be a combined investment of $660 million in the company. Entain’s most striking figure for the firm was the 11% improvement in group revenues. Up from $2.23 billion in 2020 to $2.48 billion in 2021. The growth for this period was mainly down to the improvements of online trading in each market, except for Germany. Entain certainly benefitted from a clearer picture of sporting events, with events almost returning to normality, following a huge hit from the impact of Covid-19 and lockdown restrictions.
Operating profits shown on the interim report stated $1.57 billion, driving EBITDA to grow to $555.9 million. This represented an increase of 12% on the corresponding results in 2020, which were $497.6 million. The total interim net for online gaming revenue showed as $2.19 billion, an increase from $1.68 billion in 2020, and up by 28%.
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