Comment on Entain H1 trading update

Neil Shah, Controlling Director at Edison Team, responses:

“Entain’s H1 buying and selling update reveals a stable established of outcomes, with complete Team internet gaming revenue up 11% to approximately $350m and an raise of 28% in on the net overall performance. Sports activities betting in individual saw notable development of 55% as pandemic limitations lifted and professional sporting activities activity returned to our screens. The Group’s H1 overall performance was mainly driven by improved momentum in Q2, which noticed a overall NGR rise of 42% thanks to potent functionality in worldwide markets excluding Germany, which the organization noted is however feeling the impact of regulatory alterations.

Despite income progress of 47%cc in on the web gaming, the team recognised that this reflected only 1% improve on a complicated comparative year prior to 2019. Elsewhere, a 359% improve in Q2 retail NGR was not enough to offset general losses in the sector, with retail NGR down 42% in the fifty percent.

Nevertheless, the enterprise is in excellent stead to maintain momentum, and the announcement that the group will be doubling its expenditure into in-property online games studios alerts a dedication to strategic growth. Investors will locate self-assurance in the group’s anticipations that FY21 EBITDA will be in advance of present consensus in the variety of £850m – £900m.”