Entain, the parent company of Ladbrokes, posted online gaming revenues that surpassed previous predictions for the first quarter, owing to an influx of new customers. This comes as the British gambling firm navigates the challenges of tough competition and mounting regulatory scrutiny in its primary markets.
A recurring concern amongst gambling companies is the increasing regulatory pressure. Indeed, Entain foresees a dip in its annual earnings resulting from particular regulations in the UK and Netherlands, accentuated by the augmentation of competition within the digital gaming sector.
A rival to Flutter Entertainment, Entain is in the process of hiring a new CEO following the sudden exit of Jette Nygaard-Andersen in the middle of December. The company experienced a 7% drop in total revenue in its largest markets, the UK and Ireland.
Entain, also the owner of Coral and Partypoker, observed a slight 2% decrease in online net gaming revenue for the first quarter ending March 31st. Contrarily, the overall group net gaming revenue showed a 6% growth.
Company-supplied consensus indicated that sell-side analysts had predicted the pro forma-based online net gaming revenue to decline between 4% and 6%. – Reuters
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