Entain reported a 5% rise in FY21 EBITDA, resulting in a 1.4% surprise. Importantly, retail operations in various regions were within 5% of pre-COVID-19 levels. BetMGM continued to gain share and expects revenue of $1.3bn in FY 22 (+53% yoy) with EBITDA breaking-even in 2023.
The board decided against a dividend, which was the only sore spot of the FY 21 performance.
We do not expect any significant changes to our estimates, following the largely in line showing (vs AV estimates).
05 Mar 2022
FY 21: online momentum and resilient retail leave us hopeful for 2022
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FY 21: online momentum and resilient retail leave us hopeful for 2022
Entain PLC (ENT:LON) | 850 -30.6 (-0.4%) | Mkt Cap: 5,428m
- Published:
05 Mar 2022 -
Author:
Virendra Chauhan -
Pages:
4
Entain reported a 5% rise in FY21 EBITDA, resulting in a 1.4% surprise. Importantly, retail operations in various regions were within 5% of pre-COVID-19 levels. BetMGM continued to gain share and expects revenue of $1.3bn in FY 22 (+53% yoy) with EBITDA breaking-even in 2023.
The board decided against a dividend, which was the only sore spot of the FY 21 performance.
We do not expect any significant changes to our estimates, following the largely in line showing (vs AV estimates).