Entain, the owner of Ladbrokes and co-owner of BetMGM, beat first-half underlying profit expectations as strong customer engagement during the 2026 FIFA World Cup helped offset the impact of higher gambling taxes in Britain.
The betting and gaming group reported underlying EBITDA of £479.3 million ($646.94 million) for the six months to the end of June, down 2% from a year earlier but ahead of a company-compiled estimate of £455 million ($614.14 million).
Group net gaming revenue rose 7% to £2.55 billion ($3.44 billion), while online NGR increased 9%, supported by higher volumes and customer engagement. Entain’s UK and Ireland online NGR rose 13% despite the increase in Britain’s Remote Gaming Duty to 40% from 21% in April.
The company said the World Cup, which featured 48 teams and 104 matches, drove a surge in customer activity, with first-time depositors during the tournament reaching twice the level recorded during the 2022 edition.
UK and Ireland sports NGR increased 11%, while gaming NGR rose 13%, with Entain saying continued momentum and volume growth helped it gain market share.
“I am pleased with Entain’s start to 2026 with strong momentum and volume growth continuing, as well as strong player engagement across the group throughout the World Cup tournament,” said Stella David, Chief Executive Officer of Entain.
“This performance reflects our strengthening operations and focused execution, which reinforces the resilience of our globally scaled business and its ability to consistently deliver high-quality growth.”
Entain’s International business NGR rose 7% to £1.37 billion ($1.85 billion), driven by strong performances in Australia, Canada, Georgia, New Zealand and Spain.
Underlying operating profit fell 10% to £318.9 million, while group operating profit declined 10% to £131.9 million. The company’s net loss, however, narrowed to £5.6 million from £116.9 million a year earlier.
Entain has also continued to streamline its business. In June, it agreed to sell a 20% stake in its Central and Eastern European joint venture, Entain CEE, to existing partner EMMA Capital for about €425 million. The company plans to eventually exit the business fully.
“We have continued to take decisive strategic actions to deliver shareholder value, including our phased exit of Entain CEE,” David said. “Entain is becoming a sharper, fitter, and better connected business.”
Entain said proceeds from the CEE disposal would support its capital allocation priorities, including reducing leverage and creating scope for further shareholder returns. The company’s debt stood at £3.6 billion at the end of June, and it plans to cut 500 jobs as part of its cost-reduction efforts.
Entain is also separating BetMGM’s technology and infrastructure from MGM Resorts International, its U.S. joint-venture partner, potentially allowing the business to operate independently. David said there was no transaction planned at present.
The company reiterated its full-year guidance, forecasting online NGR growth of 5% to 7% on a constant-currency basis and group underlying EBITDA at the midpoint of its £910 million to £960 million guidance range.
“I am confident our disciplined focus on growth and optimisation will deliver strong future cash-generation, and that Entain remains well positioned to be a long-term industry winner,” David said.
Original article: https://www.yogonet.com/international/news/2026/08/13/125886-entain-h1-profit-beats-estimates-as-revenue-rises-7-to-344-billion
