Entain’s Q3 2025 results show steady progress and resilience across its global portfolio. The company posted higher Group NGR (Net Gaming Revenue), driven by strong performance from BetMGM and stable momentum in its online division. Despite softer sports margins in September, Entain maintained its full-year guidance and confirmed plans to return cash to shareholders. The Entain Q3 2025 results underline a business still in growth mode.

• Total Group NGR rose 6% year-on-year, or 7% at constant currency, including Entain’s 50% share of BetMGM. Group NGR excluding the U.S. grew 4%, with online NGR up 5%. Retail revenue added 3%, reflecting steady demand in key markets.

• The UK and Ireland continued to perform well, with NGR up 8% at constant currency. Online revenue climbed 15% as higher player values drove volume growth and further market share gains. Retail grew 2%, supported by improved results in both sports and gaming segments.

• International operations saw NGR up 1% at constant currency. Italy delivered 6% growth, while double-digit online gains came from Georgia, Spain, New Zealand, Canada, Austria and Greece. Brazil and Australia faced lower margins due to customer-friendly sports results, despite stable or growing volumes.

• Entain CEE (Central and Eastern Europe) posted 10% NGR growth, led by Croatia performing ahead of expectations. The division saw online up 9% and retail up 11%, highlighting strength across both channels.

• BetMGM’s net revenue reached USD 667 million for the quarter, up 23% year-on-year. The U.S. joint venture upgraded its FY25 outlook to at least USD 2.75 billion (ca. EUR 2.37 billion) in revenue and approximately USD 200 million (ca. EUR 172 million) in EBITDA. BetMGM also expects to distribute at least USD 200 million in cash to Entain and MGM Resorts during 2025.

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