Ahead of investor meetings this week, Entain, the global sports betting and gaming group, has released an update on its strategic progress and trading performance for the second half of 2024.
Gavin Isaacs assumed the role of Chief Executive Officer on 2 September 2024 and will lead a series of investor meetings expected to deliver upbeat developments.
BetMGM, Entain’s US sports betting platform, is finally showing signs of positivity. The platform launched an enhanced experience ahead of the 2024 NFL season, including improved parlay and player prop options powered by Angstrom’s market pricing capabilities, as well as streamlined live betting and bet slip features. BetMGM’s betting experience is very different to the one typical of European platforms and could be considered cumbersome.
BetMGM has also become the first sports betting app to offer Nevada bettors seamless, nationwide connectivity through a single digital wallet.
Investors will be delighted to learn that Entain’s gaming performance in the second half of 2024 has surpassed expectations.
The company reported that the improving momentum observed during Q2 has continued, with Online Net Gaming Revenue (NGR) growth during H2 2024 to date exceeding anticipated levels.
The UK and Ireland Online segment, which has been a worry for investors recently, has returned to year-on-year growth earlier than expected.
International and Central and Eastern European regions continue to perform well, while retail performance across all regions remains in line with expectations.
Entain shares were 5% higher at the time of writing.