Entain has reiterated its FY2026 guidance of reaching 5%-7% online NGR growth, after reporting 3% NGR (net gaming revenue) growth in a Q1 trading update.
The three months ending 31 March 2026 saw group NGR grow “in line with expectations” thanks to an 8% growth in volume.
Online NGR was up 5%, with iGaming performing particularly well as it rose 9%, offsetting a 1% decline in its sports segment due to softer sports margins.
Online in UK and Ireland (+13%) performed particularly well, while Australia also grew by 13%. Entain noted the results from these markets were “ahead of expectations”.
Volume across online operations also increased 10% year-on-year, signalling growth across all of Entain’s core markets.
The results led to Entain reiterating its FY26 guidance of online NGR growth of between 5% and 7% on a constant currency basis.
Entain said it also “remains comfortable” with market expectations that it will reach a FY26 group EBITDA of £1.13 billion (excluding BetMGM parent fees), as well as an annual adjusted cashflow of at least £500 million in 2028.
CEO Stella David said Entain’s strong start to the year reflected the company’s confidence in its strategy to strengthen the business.
“We entered 2026 with strong momentum which has continued in Q1, with strong volume growth across our diversified portfolio,” David said. “This further demonstrates our ongoing strategic execution and strengthening operations, and also highlights the growth embedded in our globally scaled business.
“Our strong and resilient business has started the year well, and we continue to build on this momentum. Our sharper focus and optimisation initiatives reinforce our conviction in delivering sustainable growth and improving cash generation.
“Entain remains well positioned to be a long-term industry winner, seizing the many opportunities ahead, and I am confident in our future.”
Regional performance broken down
Entain’s UK&I NGR across its online and retail segments was up 6%. Its 13% online growth reflected “ongoing market share gains” and offset a 1% decline in retail performance.
The operator announced it would close 39 of its Irish Ladbrokes shops in April, representing over a third of its estate in the country.
Despite its overall retail decline, Entain said it had continued to outperform the UK&I market, noting growth in both gaming (+2%) and volumes (+4%).
Elsewhere, International NGR was up 1%, with online (+2%) again outperforming retail (-4%).
Volume growth of 9% was hampered by customer-friendly sports results, especially in Italy and Brazil.
The segment could be boosted further in the future, with the company announcing in its FY26 results that it was aiming to secure three of the 15 available iGaming licences in New Zealand when the market opened in 2027.
But while Entain’s UK&I and International segments both reported growth, that wasn’t the case in its CEE operations, with NGR there dropping 6%.
CEE online dipped slightly by 1%, but the standout shift was a 30% year-on-year decline in its retail segment.
BetMGM revenue up in Q1
BetMGM, Entain’s joint venture with MGM Resorts International, posted net revenue growth of 6% in Q1 to $696 million. iGaming for BetMGM grew by 9%, while online sports betting increased by 4%.
BetMGM’s adjusted EBITDA for Q1 stood at $25 million, and the JV has updated its FY2026 guidance to reflect its year-to-date performance.
It now expects revenue for FY26 to drop to between $2.9 billion and $3.1 billion, with adjusted EBITDA reaching the lower end of its existing guidance of $300-$350 million.
Kyle Goldsmith
Kyle has been with Clarion since December 2023, joining from the world of sports journalism, subsequently becoming a LatAm-facing senior reporter with iGB.
Original article: https://igamingbusiness.com/finance/entain-reiterates-fy26-guidance-online-q1-growth/
