Entain Reports Strong Fourth Quarter and 2022 Growth
The leading gaming and sports betting company, Entain, released its Q4 and full year 2022 results, reporting strong growth
On Wednesday, the company revealed it has seen an increase in its net gaming revenue (NGR) for the fourth quarter as well as the full year 2022. Judging by Entain’s latest report, NGR for Q4, which includes the period between October 1 and December 31, 2022, increased by 11% when compared to the corresponding period in 2021.
A breakdown of the NGR in Q4 reveals that the company’s online sports segment marked a 13% increase. The same increase was observed for Entain’s online gaming segment. On the other hand, retail operations during the fourth quarter of last year jumped by 10%, when compared to the same period in 2021.
Judging by the recent report, the strong performance of the company’s operations was impacted positively by an increase in active customers. Entain revealed that in Q4, 2022, its active customers hit record levels, increasing by 14% when compared to the same period the prior year.
The Company Enjoys Another Strong Year
Jette Nygaard-Andersen, Entain’s CEO, commented in light of the recent results pointing out that the company’s financial performance in 2022 was good. She explained that Entain grew its revenues in a diversified and sustainable way. At the same time, Nygaard-Andersen said that the company continued to expand its global presence, reaching new audiences and entering new markets.
According to her, the expansion helped Entain reach a record number of active customers for the fourth quarter. What’s more, Nygaard-Andersen outlined that full year EBITDA performed ahead of the previously drawn expectations. Finally, she said: “We have started 2023 with good momentum across the business and remain confident in our ability to continue delivering on our growth and sustainability strategy in the year ahead.”
“2022 has been another year of strong financial, operational and strategic progress for Entain.“
Jette Nygaard-Andersen, CEO at Entain
When it comes to the full year 2022 results, Entain enjoyed strong growth as well. For the period between January 1 and December 31, 2022, the company’s total NGR increased by 12%. A breakdown of the total showed strong performance of Entain’s retail operations, while the total online operations dipped slightly.
The trading update reveals that for the full year 2022, the company’s online sports operations NGR did not report growth, while online gaming NGR decreased by 1%. In contrast, Entain’s retail total NGR for the full year 2022 soared by 66%. Overall, in 2022, active customers increased by 7% year-over-year, reveals the company’s new report.
William Velichkov is a research-driven writer. His strengths lie in ensuring factual accuracy, vetting government documentation and reaching out to regulators and other officials. He is particularly fond of financial reporting, the sports betting industry, B2B partnerships and esports betting developments. William is a strong asset to the GamblingNews team as he adds a bedrock to our reporting.
