We exited the year in a strong position and have returned to organic revenue and EBITDA4 growth. The Group delivered Revenue +7% ahead of 2023 and underlying EBITDA4 of £1,088.8m (2023: £1,007.9m) with accelerating growth in our “must win” markets.
Entain plc (LSE: ENT), the global sports betting and gaming group, today reports its results for the year ended 31 December 2024 (“FY24”).
Total Group Net Gaming Revenue
(“NGR”), including 50% share of BetMGM, up +6%, +9%cc,2 +4%cc2 proforma5
FY24 Online NGR (exc. US) +9%, +12%cc,2 +6%cc2 proforma5 with improving momentum through the year
Q4 Online NGR (exc. US) up +13%cc2, stronger than expected including benefit of operator friendly sports margins
Accelerating growth in “must win” markets:
UK&I Online NGR returned to growth sooner than expected in Q3, and in Q4 grew +21%cc2 in line with market
Brazil NGR grew +41%cc2 YoY, rebuilding strongly from +9%cc2 in Q1 to +65%cc2 in Q4
In the US, BetMGM’s accelerating momentum and strategic refinement underpins our confidence in delivering positive EBITDA4 in 2025 and the pathway to $500m EBITDA4 in the coming years
Margin expansion: Online EBITDA4 margin of 25.3%, ahead of expectations, benefiting from stronger than anticipated growth and operational efficiencies
Group EBITDA4 of 1,089m, in line with upgraded7 guidance, +12%cc2 YoY, +5%cc2 proforma5
Outlook: Year to date trading and ongoing operational execution s our expectation to grow FY25 Online NGR in line with underlying markets
Entain remains comfortable with market expectations8 for FY25
Pathway to generating over £0.5bn of annual adjusted9 cash flow in the medium term
- 2024 and 2023 statutory results are audited, with the tables presented relating to continuing operations and including both statutory and non-statutory measures.
- Growth on a constant currency basis is calculated by translating both current and prior year performance at the 2024 exchange rates.
- Contribution represents gross profit less marketing costs and is a key performance metric used by the Group.
- EBITDA is earnings before interest, tax, depreciation and amortisation, share based payments and share of JV income. EBITDA is stated pre separately disclosed items.
- Stated pre separately disclosed items.
- Adjusted net debt excludes the DPA settlement. Leverage also excludes any benefit from future BetMGM EBITDA or the payments due to acquire the minority interests in Entain CEE.
