Online gambling operator Entain PLC released its latest quarterly financial report revealing that net gambling revenue increased by 2% in the third quarter of 2022 in line with full year earnings and revenue forecasts for 2022.
Entain Reports Positive Q3 Revenue GrowthOverall, Entain’s net gambling revenue increased by 18% during the first half of 2022 (Q1 and Q2) to £2.12 billion (€ billion). Meanwhile the company also stated that it expects its online revenues to continue to grow through the final three months of 2022. As a result, Entain expects to achieve its forecasted revenue goal of £925 million EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for 2022.
Entain Reports Positive Q3 Revenue Growth“Our business continues to perform well with good underlying momentum across the group, including in BetMGM. This illustrates the effectiveness of our growth strategy, the unique capabilities of the Entain platform, and the underlying strength of our diversified global business.
Entain Reports Positive Q3 Revenue Growth Entain Reports Positive Q3 Revenue Growth Entain Reports Positive Q3 Revenue Growth
The company’s positive results for Q3 come despite a record fine of £17 million (€20.2 million) issued by the UK Gambling Commission during the same period. An investigation uncovered social responsibility and anti-money laundering failures at its online and land-based businesses.
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.