Entain ends year with earnings at top-end of guidance
Gambling giant reaffirmed its full-year 2024 EBITDA guidance on Monday, buoyed by operator-friendly sports results during the final quarter of the year.
The FTSE 100 company said it now expected group EBITDA to land at the top of its previously stated range of £1.04bn to £1.09bn.
That marked an improvement from its October projection, which anticipated results toward the upper end of the range.
Entain's US joint venture, BetMGM, also maintained its previously-issued guidance.
Despite customer-friendly sports results in October and December, BetMGM reiterated its forecast for a full-year EBITDA loss of around $250m, consistent with its earlier announcement that 2024 would remain an investment-focused year.
In its half-year update in July, BetMGM projected a second-half EBITDA loss similar to the $123m reported in the first half.
At 0820 GMT, shares in Entain were up 7.72% at 672.36p.
Reporting by Josh White for Sharecast.com.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.