UK gaming giant Entain plc has touted an increase in both revenues and active customers within its Australian sports betting arm as it continues its efforts to grow market share for its two local brands, Ladbrokes and Neds.
The improvement, highlighted in the company’s 2022 financial results, comes despite Entain reporting an 88% decline in group-wide profit after tax to £33 million (US$40 million) and 13% decline in underlying EBITDA to £993 million (US$1.2 billion). While revenues were 12% higher at £4.3 billion (US$5.2 billion), the decline in profit was attributed to an increase in losses from its US online gaming brand BetMGM, plus depreciation and interest charges.
Nevertheless, Entain said Australia has continued to perform strongly with Net Gaming Revenue up 12% and active customers up 7% on 2021 numbers, “despite lapping strong COVID comparators.”
“By leveraging our different brands as well as launching new and innovative products and content, we continue to outperform the market and grow market share,” Entain said.
Neds had gained momentum on the back of its partnership with UFC, the company added, while both brands have formed a collaboration with the Australian Hotels Associates (AHA) via a long-term advertising and sponsorship agreement that provides the opportunity to reach new customers across AHA’s 1,800 licenced venues.
Entain recent announced further investment into Australia after acquiring local gaming entity Full House Group, whose brands include the Australian Poker League (APL) among others.
GM of Entain Venues, Mark Sturdy, hailed the acquisition, said at the time, “Full House Group has more than 20 years’ experience working in venues,” he said.
“They have a presence in over 1,000 venues nationally, across their various market-leading in venue Poker, Trivia and Sports & Racing tipping products. Through Entain’s market leading digital expertise and innovative culture, we are excited about the opportunities to further enhance these products and build out the distribution across the market.
“Having just entered the venue market late last year, it’s important for Entain that we are creating real value for venues every day of the week and not just through key trading periods.
“Our ambition when we set out was to be Australia’s leading venue entertainment provider, and the acquisition of Full House Group provides a comprehensive venue entertainment brand portfolio, a large customer base and deep industry experience.”
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