The group reported gross profit of £2.43bn, and underlying EBITDA of £881.7m, increases of 6% and 5% respectively. Profit after tax amounted to £275.6m.
Highlights for the period included a 12% growth in online net gaming revenue, the ninth consecutive year of double-digit online growth. And in retail, year end volumes returned to over 90% of pre-Covid levels.
Entain added that BetMGM “continues to go from strength to strength as a leader in the fast growing US market,” established as the number two operator for sports betting and iGaming with a 23% market share in the fourth quarter across the markets in which it operates.
“Our Full Year results demonstrate yet again that Entain is a business with growth built into its business model,” said Entain CEO Jette Nygaard-Andersen. “Our strong performance is underpinned by the Entain platform which encompasses the compelling combination of our proprietary technology, our outstanding people around the world, and our industry-leading operational capabilities. It is this unique platform that enables us to deliver an ever-improving customer experience, to embrace emerging consumer and technological trends, and to grow into new markets and product areas.
“All of our major markets have performed well. In particular, BetMGM in the US has delivered a five times increase in net gaming revenue versus the previous year, and is ready to challenge for the number one position across the markets in which it operates. Elsewhere, our retail business has recovered strongly and volumes have now returned to 90% of pre-Covid levels as restrictions have eased and customers have returned to our shops.
“As ever, I would like to thank each and every one of our colleagues for their dedication, hard work and professionalism in helping to achieve these results. Given the quality of our people, the ongoing broad-based growth of the business, its continuing momentum, and the investments that we are making in innovation to support our future expansion, we remain confident in our financial performance for FY22 and beyond.”
