Entain has published its full-year financial results for 2021, declaring strong group net gaming revenue growth while noting expansion into 31 regulated markets. Reporting its full-year 2021 results, the group reported group NGR of US$5.19bn, a 7% increase year-over-year when compared to FY2020’s $4.85bn.
According to the company report, group’s online NGR improved by 12% thanks to strong performances in Australia, Brazil, Italy, and the Baltics.
"As we start 2022 we see retail heading towards pre-COVID levels and online performing in line with expectations against tough prior year comparables," the group said in a statement.
Regarding the performance of the group in Brazil, Entain offered an update on the country’s gaming market where it claims to be the market leader, citing exceptional growth with actives up 156% and NGR improving by 111% in 2021.
The group noted that, thanks to the strength of its Sportingbet brands and operational expertise, its Brazilian performance is in good shape, even with heightened competition ahead of sports betting regulation expected during 2022 and gaming in 2023.
“Our Full Year results demonstrate yet again that Entain is a business with growth built into its business model. 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,” commented Entain CEO Jette Nygaard-Andersen.
“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,” Nygaard-Andersen added.
"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,” Entain CEO’s concluded.
Source: GMB
