Entain has recorded increased profits as a result of record-breaking online growth during 2021.
Year-on-year growth
Entain has recorded revenue of £3.83 billion for 2021 in a 7.6% increase from the previous year is. The sports betting operator, which is based in the Isle of Man, confirmed that online revenue of £3.01 billion was the greatest contributor to the total amount and marked a 12.3% increase from 2020.
It attributed its growth to fans returning to live sports venues with the UK market, in particular, flourishing with an increased online net gaming revenue (NGR) of 12%. This is largely due to the delivery of targeted marketing campaigns and product investments aimed at sports fans.
In Italy, NGR increased by 31% across the company’s Eurobet, bwin, and Gioco Digitale brands with NBA game footage, 300 brand-new casino games, and pre-match football player markets boosting this figure.
A bright future ahead
Entain CEO, Jette Nygaard-Andersen said: “Our full-year results demonstrate yet again that Entain is a business with growth built into its business model. Our strong performance is underpinned by the Entain platform which encompasses the compelling combination of our proprietary technology, our outstanding people around the world, and our industry-leading operational capabilities.
“Given the quality of our people, the ongoing broad-based growth of the business, its continuing momentum, and the investments that we are making in innovation to support our future expansion, we remain confident in our financial performance for FY22 and beyond.”
This also comes after a year that saw Entain acquire Avid Gaming for a reported CAD $300 million (£177 million).
