Entain reaffirms FY26 outlook as 13% UK online revenue growth boosts Q1 performance

(AsiaGameHub) –   Following a Q1 trading update that showed 3% growth in net gaming revenue (NGR), Entain has confirmed its FY2026 guidance for online NGR growth of 5%-7%.

For the quarter ending March 31, 2026, group NGR increased “in line with expectations,” driven by an 8% rise in volume.

Online NGR increased by 5%, bolstered by a strong 9% rise in iGaming, which countered a 1% drop in the sports division caused by lower sports margins.

The UK and Ireland online sector performed exceptionally well with a 13% increase, matching the 13% growth seen in Australia. Entain stated that performance in these regions exceeded expectations.

Online volume also saw a 10% year-on-year increase, indicating growth throughout Entain’s key markets.

Consequently, Entain maintained its FY26 forecast for online NGR growth between 5% and 7% on a constant currency basis.

The company also stated it is “comfortable” with consensus estimates for a FY26 group EBITDA of £1.13 billion (excluding BetMGM parent fees) and an annual adjusted cash flow of no less than £500 million by 2028.

CEO Stella David remarked that Entain’s robust start to the year mirrors the company’s confidence in its business-strengthening strategy.

“We carried strong momentum into 2026 that persisted through Q1, with significant volume growth across our diversified portfolio,” David stated. “This serves as further proof of our continued strategic execution and operational strengthening, while also underscoring the growth inherent in our globally scaled business.

“Our resilient and strong business has begun the year on a high note, and we are building upon this momentum. Through our sharpened focus and optimization efforts, we are more convinced than ever in our ability to deliver sustainable growth and enhance cash generation.

“Entain is well-placed to succeed as a long-term industry leader, capitalizing on the numerous opportunities ahead, and I have full confidence in our future.”

Breakdown of regional performance

Entain’s NGR in the UK and Ireland rose by 6% across both online and retail channels. A 13% surge in online revenue, attributed to “ongoing market share gains,” helped balance a 1% dip in retail performance.

The operator revealed plans to shutter 39 Ladbrokes locations in Ireland this April, accounting for more than one-third of its shops in the nation.

Despite the general downturn in retail, Entain claimed it continues to surpass the UK&I market, citing growth in both gaming (+2%) and volumes (+4%).

In the International segment, NGR climbed 1%, with the online division (+2%) once again outperforming retail (-4%).

While volume grew by 9%, this was constrained by favorable sports outcomes for customers, particularly in Italy and Brazil.

Future growth in this segment could receive a boost, as the company stated in its FY26 results that it aims to obtain three of the 15 iGaming licenses available in New Zealand upon the market’s opening in 2027.

However, unlike the UK&I and International divisions, Entain’s CEE operations reported a decline, with NGR falling by 6%.

Online revenue in CEE decreased marginally by 1%, but the most significant change was a 30% year-on-year drop in the retail sector.

BetMGM sees Q1 revenue increase

BetMGM, the joint venture between Entain and MGM Resorts International, recorded a 6% increase in net revenue to $696 million in Q1. BetMGM’s iGaming revenue grew 9%, while online sports betting revenue rose by 4%.

Adjusted EBITDA for BetMGM in Q1 was $25 million, prompting the joint venture to revise its FY2026 guidance based on performance to date.

The joint venture now anticipates FY26 revenue to fall between $2.9 billion and $3.1 billion, with adjusted EBITDA hitting the lower end of its previous $300-$350 million guidance.