Entain Reports Strong Q1 2024 Trading Update with Revenue and EBITDA Growth

A global entertainment and gaming powerhouse, Entain, has announced a positive first-quarter trading report, demonstrating robust revenue expansion and favorable trends across its primary markets.

The corporation anticipates its revenue for the initial quarter of 2024 to range from €2.0 billion to €2.05 billion, a substantial rise from the €1.59 billion recorded in the corresponding period last year. This surge is driven by solid performance across the majority of Entain’s activities, including a complete quarter’s input from its UK branch, which initiated its lottery services in February.

Entain also emphasized notably strong internet gaming earnings in Austria and twofold digit expansion in the Czech Republic. The firm’s adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) is projected to be between €355 million and €365 million, an increase from €346.7 million in the prior year’s first quarter.

Robert Chvatal, Entain’s Chief Executive Officer, conveyed contentment with the company’s results, remarking, “2024 has commenced favorably, with trading aligning with our projections at the year’s outset. This outcome reflects the resilience of our fundamental business, the advantages of our expansion strategy, and our continuous emphasis on operational and financial effectiveness.”

He further noted, “Our robust underlying impetus in GGR [Gross Gaming Revenue] has persisted into Q1, during which we have effectively deployed the UK National Lottery for its 10-year license duration, while also achieving further advancements on our adjusted EBITDA.”

Allwyn possesses a positive outlook on its future – the years from 2024 onward appear promising!”

Regarding other developments in the gaming sector today, Entain disclosed the finalization of its internal strategic assessment.