Entain, a BetMGM parent company, reports growth for Q4 2021
BetMGM continues to be a strong performer for Entain.
Entain Holdings – which, in its partnership with MGM Resorts International, holds 50% of BetMGM – has released its fourth quarter results, covering the period from October 1 to December 31, 2021.
It was a period of modest growth for the European company: there was a 7% year-on-year revenue rise, while online revenue was up by 12%.
EBITDA for 2021 is expected to be in the range of £875m-£885m ($1.2bn). Besides Germany, all the major markets in which it is active saw healthy growth.
BetMGM continues to be a top performer in the Entain arsenal.
When its numbers include the performance of BetMGM, net gain revenue for the fiscal year 2021 was up 14%.
Altogether, BetMGM’s net gain revenue was about $850m, a five-fold improvement over the year before. The group maintains a 24% market share in the sports betting and iGaming markets in which it is active.
2022 is expected to be an even better year, with an anticipated revenue of $1.3bn. Analysts also predict a positive EBITDA for BetMGM by 2023.
Unsurprisingly, Entain upper management is sanguine about both last year’s performance and the prospects for next year. Commented Jette Nygaard-Andersen, Entain’s CEO: “2021 has been a successful and eventful period for Entain, and our market-leading platform has driven another year of strong, sustainable and diversified growth.
“All of our major markets have performed well. BetMGM, our hugely exciting business in the US, has been a particular highlight with FY21 net gaming revenue ahead of expectations and an upgraded outlook for 2022.”
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