FTSE100 heavyweight Entain, owner of the Ladbrokes and Coral brands, has reported a solid start to 2026, seeing a 3% increase in group Net Gaming Revenue (NGR) for Q1, fueled by a 10% year-on-year surge in online volume.
Despite a marginal decline in sports revenue, the firm’s iGaming performance remained the primary engine of growth.
Regional Performance and BetMGM Strength
The group reported strong results in the UK and Ireland, where NGR increased by 6%. Australia also exceeded analyst expectations with 12% NGR growth, despite ongoing legal and compliance challenges for its Ladbrokes Australia vertical.
BetMGM, the group’s U.S. joint venture with MGM Resorts, continues to show resilience. For Q1 ending March 31, Entain’s BetMGM reported net revenue of US$696 million (£514.1m), a 6% year-on-year growth, with an adjusted EBITDA of US$25 million (£18.46m).
Leadership Perspectives on Long-Term Success
Entain CEO Stella David expressed confidence in the company’s ability to generate at least £500 million in annual adjusted cashflow by 2028:
“We entered 2026 with strong momentum, which continued [through] Q1, with strong volume growth across our diversified portfolio. This further demonstrates our ongoing strategic execution and strengthening operations. And also highlights the growth embedded in our globally-scaled business. We continue to build on this momentum. Entain remains well-positioned to be a long-term industry winner, seizing the many opportunities ahead, and I am confident in our future.”
