BetMGM partnership yields profits for Entain, resulting in cash inflow
Entain's Strong First-Half Performance Bolstered by BetMGM
Entain, the global online sports betting and gaming group, has reported impressive financial results for the first half of 2025, with its joint venture, BetMGM, playing a significant role in the company's growth.
BetMGM, a major growth engine for Entain, delivered revenue of at least $2.7 billion and EBITDA of at least $150 million in the first half of 2025, outperforming expectations. The joint venture's EBITDA for the same period stood at $109 million, a significant improvement from a loss in the previous year.
Stella David, Entain's CEO, expressed satisfaction with the ongoing momentum and strong performance of both Entain and BetMGM. She stated that the business is "getting stronger, fitter and faster," with the results reinforcing the company's confidence in its ability to drive "sustainable underlying growth."
Entain's total Group Net Gaming Revenue (NGR), including its 50% share of BetMGM, increased by 10% on a constant currency basis. The trading NGR in the UK and Ireland for Entain surged by 21%, while the online NGR, excluding the US, rose by 8%.
The growth in Entain's online NGR is attributed to "strong volumes in sports and gaming." The company's total Group EBITDA, including BetMGM's contribution, rose by 32% to £625m for the first half. Overall group EBITDA for the first half was £583m, up 11% year-on-year.
Entain has upgraded its full-year outlook, expecting to deliver revenue of at least $2.7 billion. The group forecasts strong double-digit EBITDA growth for FY25 driven by BetMGM and its international operations. Entain also anticipates generating over £0.5 billion of annual adjusted cash flow in the medium term, emphasizing sustainable growth and financial strength.
Stella David also expressed confidence in the company's ability to generate more than £0.5 billion of cash annually in the medium term. The interim dividend was up 5% year-on-year at 9.8p per share.
In summary, BetMGM’s accelerated performance materially strengthens Entain’s overall growth, profitability, and cash flow outlook for 2025 and beyond, making it a central contributor to Entain’s robust financial health.
[1] Entain Press Release, H1 2025 Results [2] Reuters, Entain raises EBITDA forecast as BetMGM growth outpaces expectations [3] Yahoo Finance, Entain's H1 2025 Results: A Closer Look at the Numbers
- The significant role of BetMGM, a joint venture in casino-and-gambling, boosted Entain's financial performance in sports betting and gaming markets during the first half of 2025.
- Despite a loss in the previous year, the EBITDA of BetMGM surpassed expectations in the first half of 2025, reaching at least $150 million, a testament to the growth engine status of this venture in finance and business.
- Stella David, the CEO of Entain, stated that the company anticipates generating more than £0.5 billion of adjusted cash flow annually from its casino-and-gambling operations in the medium term, reaffirming Entain's financial strength and its continued growth in the tax sector.
