Entain reveals 28% increase in online gaming revenue

0
59

Entain reveals 28% increase in online gaming revenue

Entain has today announced its 2020 annual report which highlights the company’s growth in 2020.

Last year, online net gaming revenue for the British company totalled £2.7bn ($3.7bn), a 28% increase, with EBITDA increasing 11% to £843m.

Its online and retail services told different stories; there was a 5% increase in online sport wagers, which brought the total to £11.8bn. However, as the pandemic affected stores, the retail wagers were down from £4.8bn last year to £2.8bn.

The company also revealed gender pay figures and showed that it offers more gender parity than others. The company has a median gender pay gap in the UK of 7.1%, while the national average is 15%.

In December 2020, Entain relaunched itself by renaming the group and redirecting its corporate identity and strategy. The company has used last year’s rebranding to continue this corporate rebirth by growing and offering more to its customers.

“Under our new corporate identity, we will continue to use our unique technology platform to build on the exceptionally strong momentum that we have in our existing markets,” said non-executive chairman JM Barry Gibson.

Entain will set out to appeal to a broader range in existing markets, while also developing products for consumers in emerging markets. The company estimates that by 2025, it will be worth $20bn in the US betting and igaming market.

Jette Nygaard-Andersen (pictured), CEO of Entain, added: “We plan on growing and evolving the business in a responsible way. We will grow in a way that is underpinned by sustainability, responsibility and player protection.”