Entain retail revenue increases, online segment dips

The global sports betting, gaming and interactive entertainment group, Entain, released its second quarter and the first half of 2022 results. The second quarter covers the period from April 1 through June 30, 2022, while H1, covers the period between January 1 and June 30, 2022.

Entain confirmed that in Q2 and H1, it has seen a decline in revenue for its online operations. However, that negative effect was offset thanks to a significant increase in the retail sector, the company revealed.

In H1, the net gaming revenue (NGR) for Entain's online operations decreased by 7%. A similar decrease of 7% in online NGR was also observed in Q2. However, the company's retail operations NGR increased by 243% in H1. The positive increase in retail NGR was also evident in Q2 when the company recorded a 79% increase. Given the decrease in online NGR and increase from the retail sector, overall, Entain's NGR in Q2 increased by 8%. Not unexpectedly, the group's total NGR for H1 increased by 18%.

In a statement released Thursday, Entain's CEO, Jette Nygaard-Andersen, said: "I am very pleased to see that more customers are choosing to play with us, reflecting our focus on recreational players and putting the customer at the heart of everything we do."

She explained that so far, the company completed four key transactions that helped it grow. According to Nygaard-Andersen, Entain's success is further complemented by the 24% market share of BetMGM in the US. "The macro-economic outlook is uncertain, however the underlying performance of our business remains strong," added Nygaard-Andersen.

She acknowledged that Entain's customer base continues to grow. At the same time, the company remains focused on proving the best services for its customers and expanding. In conclusion, Nygaard-Andersen said: "Our leadership in responsibility and sustainability has seen us implementfurther player safety measures alongside ARC, particularly in the UK, as well as respond to regulatory changes as markets implement regulation."

According to the recent announcement, Entain's retail sector growth was primarily driven by gaming and self-service betting terminals. Additionally, the company acknowledged that in Q2, the retail segment surpassed pre-pandemic levels. Further growth is expected upon the completion of the transaction with BetCity, which according to Entain will create a new strategic opportunity for the Dutch market.

Other important highlights as a part of Q2 include the appointment of Rahul Welde as non-executive director back in June. Before that, in May, the company was awarded GamCare's Advanced Safer Gambling Standard for its land-based and online operations in the UK. This reaffirmed Entain's commitment to player protection and social responsibility.

Image Credit: Entain