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Entain reported a 3% rise in group net gaming revenue (NGR) in the first quarter, in line with expectations, as strong online growth in the UK and Ireland and Australia helped offset softer sports margins.
The company said total NGR growth was supported by an 8% increase in volumes. Online NGR rose 5%, driven by a 9% increase in iGaming that offset a 1% decline in its sports segment.
Online performance in the UK and Ireland stood out, with NGR up 13% on continued market share gains. Australia also posted 13% growth, with both markets performing ahead of expectations. Overall online volumes increased 10% year-on-year across Entain’s core markets.
Entain reiterated its full-year 2026 guidance, expecting online NGR growth of 5% to 7% on a constant currency basis.
Entain also said it “remains comfortable” with market expectations for group EBITDA of £1.13 billion ($1.53 billion) and at least £500 million ($677 million) in annual adjusted cashflow by 2028.
CEO Stella David said: “We entered 2026 with strong momentum, which has continued in Q1, with strong volume growth across our diversified portfolio. This further demonstrates our ongoing strategic execution and strengthening operations, and also highlights the growth embedded in our globally scaled business.”
“Our strong and resilient business has started the year well, and we continue to build on this momentum. Our sharper focus and optimisation initiatives reinforce our conviction in delivering sustainable growth and improving cash generation,” she added. “Entain remains well positioned to be a long-term industry winner, seizing the many opportunities ahead, and I am confident in our future.”
In the UK and Ireland, total NGR rose 6%, with 13% online growth offsetting a 1% decline in retail. The operator announced it would close 39 Irish Ladbrokes shops in April, representing more than a third of its estate in the country.
Internationally, NGR rose 1%, with online growth of 2% offset by a 4% decline in retail. Volume growth of 9% was impacted by customer-friendly sports results, particularly in Italy and Brazil.
The company also said it plans to pursue three of the 15 available iGaming licences in New Zealand when the market opens in 2027.
In contrast, its Central and Eastern Europe (CEE) operations saw NGR fall 6%, as a 30% drop in retail revenue weighed on performance, while online declined 1%.
Separately, BetMGM, Entain’s joint venture with MGM Resorts International, reported a 6% rise in first-quarter revenue to $696 million. iGaming revenue increased 9%, while online sports betting grew 4%.
BetMGM posted adjusted EBITDA of $25 million and updated its full-year outlook, expecting revenue of between $2.9 billion and $3.1 billion, with EBITDA at the lower end of its previously guided $300 million to $350 million range.