Entain has announced a strong start to FY25, with its Entain Q1 2025 results highlighting better-than-expected performance. The business reported a significant boost in Group Net Gaming Revenue, mainly driven by Online operations and BetMGM growth. The Entain Q1 2025 results reflect clear operational momentum continuing from late 2024.
Total Group Net Gaming Revenue (NGR) rose by 9%, or 11% at constant currency.
Online including US operations up 12%, showcasing strong customer volumes and favorable sports margins. Q1 2025 results point to a better-than-expected Online NGR excluding the US, which grew 6% or 10% at constant currency.
UK & Ireland Online NGR jumped 23% at constant currency, ahead of expectations, supported by a 21% volume growth that is likely outperforming the broader market. Retail NGR, however, declined slightly by 1% at constant currency due to weaker gaming volumes despite a strong sports margin.
International operations showed mixed outcomes, with Brazil NGR growing 31% at constant currency, while Australia’s NGR fell 8%, mainly due to customer-friendly sports results. Entain CEE markets posted a 12% NGR rise, with Croatia performing particularly strongly.
BetMGM, the US-focused joint venture, delivered a Q1 NGR increase of 34% at constant currency, achieving record iGaming revenue growth of 27% and a 68% rise in Online Sports NGR. BetMGM recorded a Q1 EBITDA of $22 million, positioning it well to meet its FY25 targets.
Entain’s CEO Stella David said, “Entain has a clear and compelling strategy with today’s results further evidence of its delivery.” The company reiterated its outlook for mid-single-digit constant currency growth in Online NGR for FY25 and expects to generate over £0.5 billion in annual cashflow in the medium term.
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