Entain maintains strategic growth and momentum in H2 2024

One of the world's largest sports betting and gaming groups that has a strong presence within the online and retail gambling vertical, Entain plc, released a new trading update.

On Monday, the company highlighted it sees a strong momentum and continues to advance strategic goals.

Additionally, Entain pointed to solid growth in the online vertical, with results pointing to growth ahead of expectations.

Focusing on the US, the company acknowledged the recent start of the 2024 NFL season.

Ahead of the football season kick-off, Entain improved the capabilities of BetMGM, bringing enhanced player prop and parlay offerings powered by Angstrom.

Besides enhanced options, customers of the popular brand will benefit from differentiated pricing capabilities, as well as "new streamlined live betting and bet slip features," as explained in a statement released by Entain.

"BetMGM is also now the first sports betting app to offer Nevada bettors seamless, nationwide connectivity through a single, digital wallet," added the company.

Entain makes strong progress, enjoys solid operational performance

Last month, Entain released its H1 results, reaffirming its commitment to growth and expansion, despite several recent difficulties.

Now, the company reaffirmed its dedication to growth and said that it has gained and retained a strong momentum.

"As evidenced in our H1 results on 8 August 2024, we continue to make strong progress with our focused execution bearing fruit across our operational performances," explained Entain in its latest trading update.

According to the globally recognizable gaming company, the strong momentum from the second quarter of the year boosted the Online Net Gaming Revenue (NGR) growth.

As a result, Entain registered growth ahead of its initial expectations.

Notably, the company's online operations in the UK and Ireland "returned to YoY growth earlier than expected."

At the same time, Entain said that its performance in Central and Eastern Europe, along with International operations was solid.

Changes affect the company's C-suite

Besides the strong momentum that continues in H2 2024, earlier this year, Entain confirmed changes to its C-suite.

Back in July, the company confirmed that it hired the services of the former Scientific Games Corporation veteran, Gavin Isaacs, to the role of Chief Executive Officer.

Although the announcement came in July, Entain revealed that Isaacs' appointment will be in effect as of September 2, 2024.

As a part of the change, the new CEO will collaborate with the company's interim CEO, Stella David, in an effort to ensure a smooth transition.

On the other hand, David will proceed to fill in the role of Barry Gibson, who will step down as Chair of Entain effective from September 30, 2024.

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