13 January 2025
Entain
plc
("Entain"
or the "Group")
Reiteration of FY24 EBITDA guidance
Noting updated guidance from
industry peers following sports results during the trading period
of 1 October to 31 December 2024 ("Q4"), Entain plc (LSE: ENT), the
global sports betting and gaming group, today reiterates its FY24
guidance.
BetMGM
On 29 July 2024, BetMGM's 1H-24
update announced that, consistent with 2024 as an investment year,
2H-24 EBITDA was expected to be similar to the -$123m EBITDA
delivered in 1H-24.
Despite the customer friendly U.S.
sports results seen during Q4, particularly in October and
December, BetMGM reiterates its previous FY24 EBITDA guidance of
approximately -$250m.
Entain
Entain's Q3 trading update on 17
October 2024 stated that Group EBITDA was expected to be towards
the top of the £1,040m-£1,090m guidance
range1.
Following operator friendly sports
results during Q4, we now expect Group EBITDA to be at the top of
the £1,040m-£1,090m guidance range.
FY
2024 results
As scheduled, further details on
trading performance and outlook for 2025 will be provided by BetMGM
and Entain on 4 February and 6 March 2025
respectively.
Notes
(1) £1,040m-£1,090m guidance range
was provided at Entain's H1 Results (8 August 2024), and upgraded
to be towards the top of the guided range at the Q3 update (17
October 2024)
Enquiries:
Upcoming
dates:
BetMGM FY24
Update:
4 February 2025
Entain plc FY24 Results:
6 March 2025
About Entain plc
Entain plc (LSE: ENT) is a FTSE100
company and is one of the world's largest sports betting and gaming
groups, operating both online and in the retail sector. The Group
owns a comprehensive portfolio of established brands; Sports brands
include BetCity, bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds,
Sportingbet, Sports Interaction, STS and SuperSport; Gaming brands
include Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet,
Partypoker and PartyCasino. The group operates the TAB NZ brand as
part of a long-term strategic partnership with TAB New Zealand. The
Group owns proprietary technology across all its core product
verticals and in addition to its B2C operations provides services
to a number of third-party customers on a B2B basis.
The Group has a 50/50 joint venture,
BetMGM, a leader in sports betting and iGaming in the US. Entain
provides the technology and capabilities which power BetMGM as well
as exclusive games and products, specially developed at its
in-house gaming studios. The Group is tax resident in the UK and is
the only global operator to exclusively operate in domestically
regulated or regulating markets operating in over 30
territories.
Entain is a leader in ESG, a member
of FTSE4Good, the DJSI and is AA rated by MSCI. For more
information see the Group's website: www.entaingroup.com`.
Important
notices
Certain statements in this
announcement are forward-looking statements which are made in good
faith, including with respect to Entain's current expectations,
intentions and projections regarding its future performance,
strategic initiatives, anticipated events or trends and other
matters that are not historical facts and which are, by their
nature, inherently predictive, speculative and involve risks and
uncertainty because they relate to events and depend on
circumstances that may or may not occur in the future. All
statements that address expectations or projections about the
future, including statements about operating performance, strategic
initiatives, objectives, market position, industry trends, general
economic conditions, expected expenditures, expected cost savings
and financial results are forward‐looking statements. Any
statements contained in this announcement that are not statements
of historical fact are, or may be deemed to be, forward‐looking
statements. These forward-looking statements, which may use words
such as "aim", "anticipate", "believe", "could", "intend",
"estimate", "expect", "may", "plan", "project", "will" or words or
terms of similar meaning or the negative thereof, are not
guarantees of future performance and are subject to known and
unknown risks and uncertainties. There are a number of factors
including, but not limited to, commercial, operational, economic
and financial factors, that could cause actual results, financial
condition, performance or achievements to differ materially from
those expressed or implied by these forward-looking statements.
Many of these risks and uncertainties relate to factors that are
beyond Entain's ability to control or estimate precisely, such as
changes in taxation or fiscal policy, future market conditions,
currency fluctuations, the behaviour of other market participants,
the actions of governments or governmental regulators, or other
risk factors, such as changes in the political, social and
regulatory framework in which Entain operates or in economic or
technological trends or conditions, including inflation, recession
and consumer confidence, on a global, regional or national basis.
Given those risks and uncertainties, readers are cautioned not to
place undue reliance on forward-looking statements. Forward-looking
statements speak only as of the date of this announcement. Entain
and its affiliates, and any of its or their respective directors,
officers, partners, employees, advisers or agents (collectively,
"Representatives") expressly disclaim any obligation or undertaking
to update or revise publicly any forward-looking statements,
whether as a result of new information, future events or otherwise
unless required to do so by applicable law or
regulation.
In particular, no statement in this
announcement is intended to be a profit forecast or profit estimate
and no statement of a financial metric (including estimates of
EBITDA, profit before tax, free cash flow or net debt) should be
interpreted to mean that any financial metric for the current or
future financial years would necessarily match or exceed the
historical published position of Entain and its subsidiaries.
Certain statements in this announcement may contain estimates. The
estimates set out in this announcement have been prepared based on
numerous assumptions and forecasts, some of which are outside of
Entain's influence and/or control, and is therefore inherently
uncertain and there can be no guarantee or assurance that it will
be correct. The estimates have not been audited, reviewed, verified
or subject to any procedures by Entain's auditors. Undue reliance
should not be placed on them and there can be no guarantee or
assurance that they will be correct.
This announcement is being issued by
and is the sole responsibility of Entain. No representation or
warranty, express or implied, is or will be made as to, or in
relation to, and no responsibility or liability is or will be
accepted by or on behalf of, Entain (apart from the
responsibilities or liabilities that may be imposed by the
Financial Services and Markets Act 2000, as amended or the
regulatory regime established thereunder) or by its affiliates or
any of its Representatives as to, or in relation to, the accuracy,
adequacy, fairness or completeness of this announcement or any
other written or oral information made available to or publicly
available to any interested party or its advisers or any other
statement made or purported to be made by or on behalf of Entain or
any of its affiliates or any of its Representatives in connection
with Entain and any responsibility and liability whether arising in
tort, contract or otherwise therefore is expressly
disclaimed.
LEI: 213800GNI3K45LQR8L28