Safer gambling measures, slower growth in key markets and sporting results hindered Entain's Q3 performance, although the group remains on track to hit EBITDA guidance.
In a trading update, Entain says online net gaming revenue (NGR) has been mixed across the group in recent weeks. While it still expects to achieve growth during Q3, Entain says that, on aggregate, this will be softer than anticipated.
Third quarter online NGR growth is now expected to rise by a high single-digit percent. However, Entain also says it will likely decline by a high single digit percent on a pro forma basis.
Reasons for this, Entain says, include adverse sports results impacting sports margins during September and slower growth than expected in Australia and Italy. It also noted the impact of safer gambling measures across the group and ongoing regulatory headwinds persisting longer than expected, particularly in the UK.
However, Entain also noted drivers of growth within its online business. The..
