Global gaming operator Entain has announced a strong first half for 2025, with group net gaming revenue (NGR) climbing 7% year-on-year to £2.63 billion ($3.34 billion).
The performance has prompted an upgrade to its full-year earnings guidance. A major contributor to this growth was the UK & Ireland market, where online NGR surged 21%, driven by an improved customer journey and strategic marketing partnerships with football clubs Liverpool and Birmingham City.
The company noted this growth came as regulatory restrictions leveled off, boosting engagement. While online soared, the region’s retail NGR saw a 1% decline, which was in line with the expectations of Entain.
BetMGM Delivers Record Results
The BetMGM joint venture in the United States, co-owned with MGM Resorts, reported a landmark performance with a 35% increase in net revenue for the half-year. The US brand achieved a significant profitability milestone, posting $109 million in positive EBITDA, a stark reversal from the $123 million loss recorded in the same period last year.
Entain credits this turnaround to product enhancements and refined player engagement strategies targeting high-value customer segments. The company now anticipates BetMGM will generate at least $2.7 billion in revenue for the full year.
Financial Performance and Guidance Upgrade
Entain’s underlying EBITDA rose 11% to £583.4 million, though the group posted an after-tax loss of £116.9 million, which it attributed to separately disclosed costs. In a show of confidence, an interim dividend of 9.8p per share was declared, representing a 5% increase.
Based on the robust H1 performance, Entain has raised its full-year 2025 guidance. It now forecasts total group EBITDA to land between £1.1 billion and £1.15 billion, even after accounting for new Brazilian gaming taxes and additional marketing investments.
Leadership Changes and Strategic Outlook
The results were announced alongside key leadership confirmations aimed at ensuring corporate stability. Pierre Bouchut has been appointed permanent non-executive chair, having served in an interim capacity since February 2025. This follows the earlier confirmation of Stella David as the permanent CEO.
These appointments solidify the leadership team as Entain focuses on executing its growth strategy in its designated “must-win” markets, including the UK, Brazil, and the US.
