Entain reported 43%/11% constant currency growth for Q2/H1 21, well ahead of our estimates as well as consensus. As expected, online was the key growth driver with 23%/27% growth in Q2/H1 respectively, largely offsetting the 43% (H1) drop in retail. BetMGM is tracking well ahead of our estimates with $350m revenue in H1.
Management now expects FY21 EBITDA of £850-900m (vs £824m consensus and £827m AV estimate). We expect to upgrade our estimates following the strong performance.
08 Jul 2021
Q2 21: online gains continue while retail drawdowns ease
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Q2 21: online gains continue while retail drawdowns ease
Entain PLC (ENT:LON) | 818 -229 (-3.3%) | Mkt Cap: 5,226m
- Published:
08 Jul 2021 -
Author:
Virendra Chauhan -
Pages:
3
Entain reported 43%/11% constant currency growth for Q2/H1 21, well ahead of our estimates as well as consensus. As expected, online was the key growth driver with 23%/27% growth in Q2/H1 respectively, largely offsetting the 43% (H1) drop in retail. BetMGM is tracking well ahead of our estimates with $350m revenue in H1.
Management now expects FY21 EBITDA of £850-900m (vs £824m consensus and £827m AV estimate). We expect to upgrade our estimates following the strong performance.