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Entain Q3 Trading Update
23rd consecutive quarter of double-digit online growth, underpinned by Entain’s industry leading platform
Entain plc , the global sports-betting and gaming entertainment group, today reports trading for the period from 1 July to 30 September 2021 (“Q3”).
Q3 Highlights
- Strong Q3 performance with Group net gaming revenue (“NGR”) up 4% (+6% cc1) against a period of high growth in the prior year
- Online NGR +10% cc1, marking a 23rd consecutive quarter of double-digit growth in constant currency
- Excluding Germany, online NGR was up +18 %cc1
- All major markets (excluding Germany) delivered a strong performance, particularly in Australia and Brazil
- Retail NGR was +1%cc1, with UK volumes recovering toward pre-Covid-19 levels, and activity steadily rebuilding in Europe
- BetMGM continues to deliver strong growth, with a 23%3 market share across the US in sports-betting and iGaming for the three months to August
- 26%3 share in sports-betting and iGaming in the markets in which BetMGM operates
- Clear iGaming market leader with 32%3 market share
- Industry data for month of August shows BetMGM challenging for #1 market position across sports-betting and iGaming
- Live in 16 jurisdictions, with recent launches in Arizona, Wyoming and South Dakota on first day of state licencing
- Successful start to the NFL season with the launch of a national advertising campaign featuring Jamie Foxx
- Continued progress on ESG initiatives under our Sustainability Charter
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- ARC (“Advanced Responsibility & Care”) programme continues to make good progress, expanding trials into real time customer interaction across UK brands
- The Entain Foundation renewed its commitment to Pitching-In Trident Leagues and SportsAid partnerships
- The Entain Foundation U.S. funded pioneering research with University of Nevada in Las Vegas (“UNLV”) and launched a new app to support the American Gaming Association’s (“AGA”) Responsible Gaming Initiative
- FY2021 Group EBITDA5 expected to be in line with previous guidance of £850m – £900m
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- Uplift from strong Q3 trading performance offset by the previously announced impact of the licensing process in the Netherlands
Jette Nygaard-Andersen, Entain’s CEO, commented:
“These results demonstrate Entain’s continuing ability to deliver sustainable, consistent and diversified growth. Our powerful Entain platform provides customers with great products and experiences, which enables us to grow ahead of our markets as demonstrated by 23 consecutive quarters of double-digit online growth.
We continue to lead our industry in the all-important area of player protection, and I am excited by the early results of our innovative ARC programme, which we firmly believe has the potential to transform player protection across the industry.
As we announced on 12 August, our total addressable market is expected to more than triple to over $160bn. This will be driven by the significant opportunity in the US, where we are now challenging for the number one market position, our growth plans in other new and existing markets, and our strategy of entering into new areas of interactive entertainment.
By offering customers ever more engaging products, while leveraging our scale and technology, we will drive the flywheel effects of secular growth dynamics that can triple the size of our business. As a result, we remain very confident in Entain’s future prospects.”
Q3: 1 July to 30 September 2021 | YTD: 1 January to 30 September 2021 | |||||||||
Total NGR | Total NGR cc1 | Sports Wagers
|
Sport Wagers cc1 | Sports Margin | Total NGR | Total NGR cc1 | Sports Wagers
|
Sports Wagers
cc1 |
Sports Margin | |
Online | ||||||||||
Sports | 12% | 17% | 1% | 4% | +1.3pp | 38% | 39% | 30% | 30% | +0.7pp |
Gaming | 1% | 4% | 7% | 9% | ||||||
Total Online | 7% | 10% | 20% | 21% | ||||||
Retail4 | (1%) | 1% | (15%) | (13%) | +0.4pp | (23%) | (23%) | (32%) | (32%) | (0.5pp) |
Total Group | 4% | 6% | 8% | 9% |
Notes
- Growth on a constant currency basis is calculated by translating both 2021 and 2020 performance at the 2021 exchange rates
- BetMGM revenues comprise of sports (Online and Retail) and iGaming revenues
- BetMGM market shares for the three month period to August 2021
- Retail operates in UK, Italy, Belgium and Republic of Ireland. Retail numbers are quoted on a LFL basis. During Q3, there were an average of 4,513 shops/outlets in the estate, compared to an average of 4,777 for the same period last year
- Guidance on EBITDA is on a post IFRS 16 basis
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Win tickets to the BLAST Premier Fall Final: GG.BET is running a MEGA BLAST Competition for fans of СS2
From 26 July, all GG.BET users can get involved in the new MEGA BLAST Competition with a €10,000 prize fund. The winner will receive two tickets to the BLAST Premier Fall Final CS2 tournament, taking place from 27-29 September in Copenhagen. To enter, you need to place bets on Counter-Strike 2 matches.
BLAST Premier Fall is a major series of Counter-Strike 2 tournaments which draws in millions of viewers from all over the world every year. The series consists of three stages: Groups, Showdown, and Finals. The Groups stage sees 16 Tier-1 teams duke it out. Only 6 of these can go on to compete in the final, while the rest will battle it out in the Fall Showdown for two additional spots in the final. BLAST Premier Fall Finals will be the concluding stage of the Fall series, and fans can look forward to electrifying action, heart-stopping twists and turns, and an epic $425,000 prize fund.
From 26 July to 4 August, as the Groups stage rages on, GG.BET will be holding its MEGA BLAST Competition. The winner will get their hands on two tickets to attend every day of the BLAST Premier Fall Finals. As well as these tickets, the bookmaker is also giving away a whopping €10,000 prize fund to the top 40 participants in the MEGA BLAST Competition.
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MANCHESTER CITY TO MARK GLOBAL PARTNERSHIP WITH SUPER GROUP-OWNED BETWAY AT THE NEW YORK STOCK EXCHANGE
Manchester City has today announced a new multi-year partnership with leading global online betting and gaming brand, Betway.
As part of the club’s pre-season tour of the United States, and to mark this significant deal, leading figures from Manchester City and Super Group will be on-site for the iconic NYSE bell-ringing ceremony later today. Ferran Soriano, CEO of City Football Group, along with Neal Menashe, Super Group CEO, will ring The Opening Bell at 9:30am EDT.
The agreement will see Betway become the club’s Official Global Betting Partner from the start of the 2024/25 season, as Manchester City joins the brand’s extensive sports sponsorship portfolio which includes teams from across the Premier League, La Liga, NBA and more.
Ferran Soriano, City Football Group CEO, said: “We are pleased to announce Betway as our Official Global Betting Partner today. As a globally recognised brand, Betway has a strong pedigree and history of working with high-profile brands within the sports space and we’re excited to work together throughout the partnership.”
Super Group CEO, Neal Menashe, commented: “We are absolutely delighted to become Manchester City’s Official Global Betting Partner. This agreement cements our place in the top tier of Premier League partners, ensuring that our Betway brand reaches fans in all corners of the globe.”
Throughout the duration of the partnership, Manchester City and Betway will collaborate on a number of activations and exclusive content opportunities, in addition to the brand featuring across digital and in-stadia assets.
Manchester City and Betway will also work together to provide all players, coaches, management and staff in-depth, industry leading training on all relevant codes of conduct relating to betting integrity and responsible gambling. This is in addition to the work Manchester City already does to support players and staff in this area.
The Opening Bell ceremony can be viewed live.
Compliance Updates
Acquiring a Curacao Online Gaming License in 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed
The “Acquiring a Curacao Online Gaming License, 2024: Comprehensive Analysis of Financial & Procedural Aspects with Costs & Timelines Detailed” report has been added to ResearchAndMarkets.com’s offering.
This report includes valuable insights into the financial and procedural aspects, including detailed information on costs and timelines associated with acquiring a Curacao license.
In 2023, Curacao introduced the “Landsverordening op de kansspelen” (Ordinance on Games of Chance) to modernize and regulate gambling legislation. Since March 2020, the Gambling Control Board (GCB) has been authorized to regulate offshore gambling games and oversee the issuance of Curacao licenses. As of 2023, there are 16 companies providing legal services for registration and licensing in the territory of Curacao. The license fee, as per GCB regulations, is 36,000 ANG or 19,800 USD, payable upon license issuance.
Research Timeline and Data Relevance
The research was conducted in two stages. The first stage, studying the regulator and Open Data Search, took place in December 2023. The second stage, writing the report and partially updating the data from the first stage, took place from the end of April to the end of May 2024.
Goals and Objectives
- Describe the information about the Curacao license and the issuing regulator.
- Describe the requirements and conditions for obtaining a Curacao license.
- Describe the costs and timelines for obtaining a Curacao license.
- Briefly study the market, find and suggest the following lists:
- Legal companies offering services for company registration and obtaining a Curacao license;
- Communication agents and integrators working with the Curacao license;
- Suppliers and vendors working with the Curacao license;
- Payment systems working with the Curacao license.
Key Topics Covered:
1. Goals and Objectives
2. Research Timeline and Data Relevance
- Document Markup
- Raw and Combined Data
- Terms & Glossary
3. General Information
- The Regulator
- Registration of Operators With Sublicense
- Application for an Online Gaming License
4. Requirements and Conditions for Obtaining a License
License Conditions
- General Prohibitions
- Safe and Secure Environment
- Equipment and Application Software
- Player Registration
- Payment Transactions
- Games
- Terms of Use
- Resolution of Complaints
- Administrative Responsibilities
- Publicly Available Information
- Reports
- Policies and Procedures
- Suspension and Revocation of License
- Additional Conditions
- Supervision
Recommendations or Minimum Requirements for the Business Plan
5. The Cost of the License
6. Decision Term and the Validity of the License
7. Application Method and Forms
8. Contact Information
9. Companies for Registration and Licensing
10. Integration Companies
11. Suppliers and Vendors
12. Payment Systems
13. META
14. Appendix: Terms & Glossary
For more information about this report visit researchandmarkets.com/r/izeo6g
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