Entain's results from the first half of 2024 highlighted strong performance in its Australian operations, where online revenue grew by 13% year-over-year in constant currency. New Zealand also contributed positively, with a revenue increase of 21% in the same period.
CEO Stella David and newly appointed CFO Michael Snape reported that the company gained market share in Australia through various strategic measures. These included enhancements to its bet builder feature and improvements to native applications.
In August 2024, Entain launched its sports-focused digital brand, Betcha, in New Zealand, which complements its partnership with TAB for racing betting.
Andrew Vouris was appointed as the new CEO for Australia and New Zealand in August 2025. He brings 17 years of experience in the local gambling sector to his new role.
Discussing Australia, David stated, “If you take Australia, we’re in healthy, double-digit growth because of changes that we’ve made to the way that we operate. So we think that is sustainable based on good inputs, focusing on more broad sports, a less exclusive focus on racing, for example, streamlining the way that we operate, focusing in on the things that really move the dial. Long term I think Australia is an opportunity for us because we’ve been playing there all the way through.”
For New Zealand, she expressed optimism about the market's potential as it moves towards liberalizing iGaming by 2027. “If you go to New Zealand, which is in double-digit growth at the moment, it’s very exciting that we’re going to get the casino regulations start at the beginning of 2027, which is a new opportunity for us,” David noted.
Entain plans to acquire three online licenses in New Zealand, inclusive of its TAB racing monopoly, as the market will limit the total number of licenses to 15, which also includes Betway’s Super Group targeting three.
Overall, Entain’s international business reported a 7% increase in net gaming revenue (NGR) compared to the previous year. Spain emerged as another strong market for the company, with NGR for its Bwin brand rising by 28% in H1.
“We’re in great growth in Spain. We have great momentum there. We’ve got a great brand with Bwin. And so we think that the inputs are gonna continue to generate market share growth,” David emphasized, stating that the brand presence had quadrupled, leading to a doubling in player acquisition and significant market share gains.
Despite potential challenges from new player limits set to take effect in Spain next year, both executives remained optimistic.
The decision to exit Entain’s Central and Eastern Europe (CEE) operations, initially announced in June, was reinforced by Snape and David. They anticipate this strategic exit will de-leverage the company and facilitate returns for shareholders. The proceeds from this divestiture will be directed to reducing group leverage below 3x, with any remaining capital intended for shareholder returns.
“There’s no fire sale taking place here,” David insisted. “We have really good value businesses that we continue to invest and grow. But the CEE feel is a good example of adding value.”
“We’re very firmly focused on shareholder value and unlocking value from the portfolio,” Snape added.
Industry commentators noted that Entain's existing agreement with EMMA facilitated a swift divestiture process. The recent tax hikes and monopoly position in Poland also made the market less appealing for the company.
In H1, CEE NGR experienced 2% growth prior to the discontinuation in June, with online operations in the region increasing by 7%, while retail channels saw a significant decline of 22%.
