Entain has witnessed its share price spike after the revenue and profit projections for BetMGM were adjusted.
The joint venture, co-owned with MGM Resorts International, is now anticipated to deliver bottom-line underlying earnings of at least $100 million.
The catalyst for the movement and growth has been stronger than expected sportsbook and iGaming performance, with net revenue tipped to reach “at least $2.6 billion”, notably beyond the previous estimate of between $2.4-2.5 billion.
All of this meant the firm’s share price jumped up 8.5% to 815p ($11.08 )on the London Stock Exchange (LSE) on Monday.
Entain, the parent group of established brands such as Ladbrokes, Coral, and bwin, said in the official upgraded FY 2025 Guidance for BetMGM that “trading for the period is broadly consistent with the +34% year-on-year net revenue growth delivered in 1Q 2025.”
The communication further detailed that “BetMGM remains excited about the significant opportunities ahead.
“Its strengthened business, revised strategic approach, and performance momentum further reinforce its confidence in future growth prospects and pathway to 500 million US dollars (£368 million) Ebitda (earnings before interest, taxes, depreciation, and amortisation) in the coming years.”
Entain shares rose as much as 8% after the sports betting and gaming group upgraded its full-year revenue guidance for BetMGM, the US-based joint venture it shares with MGM Resorts https://t.co/8w92k8UCNN
— Bloomberg (@business) June 16, 2025
Stella David striving to steer the company to calmer waters ahead
Entain’s shares slumped to a five-year low below 430p ($5.84) earlier this year, before a Q1 rally sparked a surge that led the price to recover to almost a two-year high.
The company has harmonized after the appointment of Stella David as its CEO last month, when she accepted the role on a permanent basis, following two stints as the interim chief in recent times.
David is Entain’s fourth leader in the last five years, succeeding Gavin Isaacs after the Australian departed the company in February this year after just five months in the role.
Entain has also been hampered by various legal wrangles, including a 2023 settlement penalty imposed by HMRC (the UK tax authority) over charges related to alleged bribery offenses in Turkey.
Image credit: Entain
