Entain reported a largely in line Q4/FY 21 trading update, registering cc growth of 6/8% for Q4/FY21, respectively. As expected, online revenue was down 6% in Q4, while retail was up 62%. BetMGM performance was well ahead of consensus as well as our expectations.
Entain now expects FY21 EBITDA to come in between £875m and £885m (vs £850-900m previously). We will raise our BetMGM estimates as well as the valuation to factor in the strong US momentum.
24 Jan 2022
In line Q4 21 even as BetMGM momentum accelerates
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In line Q4 21 even as BetMGM momentum accelerates
Entain PLC (ENT:LON) | 834 110 1.6% | Mkt Cap: 5,327m
- Published:
24 Jan 2022 -
Author:
Virendra Chauhan -
Pages:
3
Entain reported a largely in line Q4/FY 21 trading update, registering cc growth of 6/8% for Q4/FY21, respectively. As expected, online revenue was down 6% in Q4, while retail was up 62%. BetMGM performance was well ahead of consensus as well as our expectations.
Entain now expects FY21 EBITDA to come in between £875m and £885m (vs £850-900m previously). We will raise our BetMGM estimates as well as the valuation to factor in the strong US momentum.