Entain has reported a “strong start to the year” with group net gaming revenue (NGR) up 31% year-on-year for the three months ending 31 March 2022.
This was supported by the return of the group’s retail vertical, but online NGR was down 8% for the period.
Entain reported that retail sales were up in 2017 due to the closures of previous years, and volumes settled within 5-10% pre-Covid levels.
Other highlights for the period included BetMGM continuing to go “from strength to strength”, with the Avid Gaming, Klondaika and Totolotek transactions delivering strategic growth expansion into new markets.
“We have started the year with a good performance across all areas of our business, driven as ever by the strength of our industry-leading platform,” said Entain CEO Jette Nygaard-Andersen. “We have delivered strong performances in all of our major markets, and I am pleased to report that Retail is performing well with customers returning for our in-store experience.
“In the US, BetMGM is firmly established as the number two operator, and our market launches during Q1 mean that we now have access to over 41% of the US adult population. Our strategy to expand into new markets continues apace, with businesses acquired in Canada, Latvia, and Poland during Q1.
Nygaard-Andersen continued: “As a growing business we continue to invest in and build our business around our customers to provide them with the best experiences whilst also capturing the many opportunities ahead.
“Given the strength and continuing momentum of our underlying business, coupled with our proven ability to grow both organically and through M&A, we remain confident in our financial performance for FY22 and beyond.”
LeoVegas Group’s new Chief Marketing Officer (CMO), Niklas Lindahl, has said he is “determined to do [marketing] in a fiscally responsible way and digital first” in exclusive comments to Gambling Insider. The…
Relax Gaming provided an exclusive preview to its Dream Drop Jackpots product for operators. It is due to launch in May 2022. Talking on…