The Q1 21 performance was along expected lines with retail revenue down 99%, as most of retail outlets were shut for the entire quarter. This was partially offset by the broad-based online momentum (+32%cc). In addition, the BetMGM momentum continued to accelerate in the US, translating into higher market share.
We do not expect any significant change to our estimates, as we expect the online gains to more than offset the retail losses. However, retail closures remain a downside risk.
15 Apr 2021
Q1 21: Online shines as retail pressures start to ease
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Q1 21: Online shines as retail pressures start to ease
Entain PLC (ENT:LON) | 789 0 0.0% | Mkt Cap: 5,040m
- Published:
15 Apr 2021 -
Author:
Virendra Chauhan -
Pages:
3
The Q1 21 performance was along expected lines with retail revenue down 99%, as most of retail outlets were shut for the entire quarter. This was partially offset by the broad-based online momentum (+32%cc). In addition, the BetMGM momentum continued to accelerate in the US, translating into higher market share.
We do not expect any significant change to our estimates, as we expect the online gains to more than offset the retail losses. However, retail closures remain a downside risk.