Entain has recently published its financial report covering the fourth quarter of 2022, with the key figure being an 11% increase in revenue.
Starting off with the quarter’s important statistics, the company’s net revenue growth is attributed to increases of 12% in online revenue and 10% in retail revenue. Furthermore, the firm also experienced a 14% uplift in active customers in the period compared to the prior year’s fourth quarter.
Next up, the firm’s revenue statistics over the entire financial year paint a completely different picture. Entain’s online revenue stayed almost the same, going down by 1% in comparison to the prior year. However, its revenue from land-based operations grew by over 65%. Furthermore, the company stated in its report that retail volumes have surpassed pre-pandemic levels, signifying a full recovery for the company’s land-based division.
Entain’s revenue in 2022 was up by about 12% in comparison to the prior year. Additionally, its EBITDA is expected to be surpassing expectations, increasing by approximately the same amount, and being projected to be in the range of 985 to 995 million pounds.
Furthermore, the company’s joint venture with MGM Resorts, BetMGM, is also doing well financially, having exceeded its revenue expectations by generating over 1.4 billion dollars in the fiscal year. That figure amounts to an increase of over 70%. Moreover, the US operator has increased its market share in its operational jurisdictions to just shy of 20%, solidifying its leading position in the country.
Lastly, at the end of the report, the corporation mentioned some of its notable achievements in the year, with the largest two being the acquisitions of SuperSport and BetCity. Other noteworthy accomplishments include the firm’s sustainability and diversity initiatives, such as its ARC program and its returnship initiative with McLaren Racing.