Entain plc has announced its FY24 EBITDA guidance, confirming the top of its forecasted range. Here’s a breakdown of the key updates:

  • Entain reiterated its FY24 EBITDA guidance, aligning with earlier updates. The group’s target range was £1,040m-£1,090m, confirmed in its October 2024 report. Following better-than-expected sports results in Q4, the company now expects to reach the top of this range.
  • BetMGM, Entain’s U.S. joint venture, sticks to its previous forecast for FY24 EBITDA at -$250m. This follows earlier projections of a consistent loss with H1-24’s -$123m. U.S. sports results in October and December leaned customer-friendly but didn’t affect BetMGM’s guidance.
  • Entain first reported its upgraded EBITDA guidance in October 2024 after Q3 trading. This was an increase from earlier H1 guidance disclosed in August 2024. The range adjustment reflects operator-friendly Q4 sports betting results.
  • The trading period of 1 October to 31 December 2024 showed mixed results for BetMGM. However, Entain benefited from higher margins and favorable outcomes. These outcomes helped confirm Entain’s position at the top of its EBITDA target.
  • Both BetMGM and Entain will provide additional financial updates in early 2025. BetMGM is scheduled to report on 4 February 2025. Entain will follow with its full FY24 results on 6 March 2025.