The financial results of global gambling giant Entain were posted for the year ending December 31, 2022. The company highlighted its achievements, noting that 2022 was an extremely strong year for them.
Entain reported that the gaming revenue increased by 12% year on year to $5.17 billion (converted into USD). Although net gaming revenue online declined by 1%, Entain is optimistic about the future of the vertical. The COVID-19 restrictions were lifted, and retail NGR soared by 66%.
Gambling juggernaut also reported $1,1 Billion in group underlying EBITDA, a 13% increase year-over-year. The net revenue trends show that online underlying EBITDA fell by 8%, while retail underlying EBITDA increased by 31%.
Profit after taxes fell by 88% to $39.25million.
Company also announced an interim dividend of $59.5million (roughly $0.10 per share). The total dividend for 2022 will now be $0.20 per share.
Entain also gave insights into BetMGMGM’s performance. The company’s $1.44 billion revenue exceeded all expectations, and it is now on track to be EBITDA-positive in H2 2023.
Entain stated that it will continue to diversify and grow its business in 2022. Entain claims that it is the only global operator to have 100% of its revenue from regulated and regulating markets.
The company launched its ARC player protection program in 22 markets in 2022. It was also awarded GamCare’s Advanced Safer Gaming Standard and SBC’s Global Socially Responsible Operator Award.
CEO Nygaard Andersen Praised for the Progress
Jette Nygaard–Andersen was the chief operating officer of the company and commented on Entain’s 2022 performance. She praised the outstanding results. Entain’s continued efforts to be a leader in gaming, betting and interactive entertainment continue to be appreciated by her team. Nygaard Anderson is also happy that Entain’s revenues are all generated in regulated markets. This is a testament to Entain’s success with sustainable growth strategies.
The CEO stated that the company’s diversified businesses now have a presence across 40 countries, which is a testament to the company’s competitive edge. Entain is committed to providing safe gaming experiences for customers around the globe.
These factors combined with strong underlying momentum in our business mean we continue to look forward with confidence.
Jette Nygaard-Andersen, COO, Entain
Entain is still optimistic about expanding its business in a responsible and safe manner. The company was granted a Nevada license a few weeks back, and some of its executives were elected to the BetMGM’s governing boards.