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    GVC   IM00B5VQMV65

ENTAIN PLC

(GVC)
  Report
Real-time Estimate Cboe Europe  -  04:58 2022-09-26 am EDT
1096.50 GBX   +1.25%
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Ladbrokes owner Entain buys into Europe as gambling pays dividends

08/11/2022 | 02:41am EDT

* Revamps dividend policy

* Rise in half-year profit

* Buys Croatia's SuperSport

* Shares up 3%

Aug 11 (Reuters) - British betting group Entain said it would buy Croatia's SuperSport Group for 600 million pounds ($731 million) in cash on Thursday after the owner of Ladbrokes, Coral and bwin reported a 20% increase in half-year profit.

Although Entain's online net gaming revenue fell 7% in the six months to June 30, shares in the FTSE 100 firm were nearly 3% higher at 0751 GMT as it resumed dividends, saying it would pay out 100 million pounds in total for the year.

Gambling firms which gained during the COVID-19 pandemic as punters went online now face pressure as some customers reduce non-essential spending due to rising fuel and food costs.

"In Q2, we also saw our increasingly recreational customer base responding to the changing macro environment and inflationary fears by moderating spend per head across the UK and parts of Europe," Entain, which also owns the partypoker online brand, said in a statement.

"We expect to get back to growth in online in the second half of the year," Entain's Chief Financial Officer Rob Wood later told Reuters in an interview.

Previously known as GVC Holdings, Entain said it was on track to deliver 2022 revenue of more than $1.3 billion at BetMGM, its U.S. joint venture with MGM Resorts. BetMGM is expected to turn profitable in 2023.

"Once BetMGM becomes profitable, and that appears to be coming closer, the value of Entain overall will become clearer," analysts at Peel Hunt said in a note.

Entain said that it was buying SuperSport, its fifth acqusition this year, through a new venture in Central and Eastern Europe, in which it will own a 75% stake.

London-listed Entain's interim underlying operating profit was 246.5 million pounds, up 20% from the same period in 2021. ($1 = 0.8207 pounds) (Reporting by Radhika Anilkumar in Bengaluru; Editing by Sherry Jacob-Phillips, Sriraj Kalluvila and Alexander Smith)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ENTAIN PLC 1.11% 1095 Delayed Quote.-35.65%
FTSE 100 -0.21% 7003.4 Delayed Quote.-4.96%
MGM RESORTS INTERNATIONAL -1.83% 30.05 Delayed Quote.-33.04%
All news about ENTAIN PLC
09/23BETMGM ANNOUNCES ACTRESS VANESSA HUDGENS AS CELEBRITY BRAND AMBASSADOR; Hudgens Teams w..
AQ
09/23Leading Online Operators Launch Principles for Responsible Gaming
AQ
09/21BetMGM, NBC Sports Partner on 2022 NFL Betting Content
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09/13Not what we expected...
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09/13ANALYST RECOMMENDATIONS : Carvana, Costco, Lowe's, Oracle, O'Reilly Automotive...
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09/13HSBC Upgrades Entain to Buy from Hold, Cuts PT
MT
09/13Entain feels the pressure as new probe opened
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09/12FTSE 100 Closed Up Amid Falling Gas Prices, US Inflation Hopes
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09/12EUROPEAN MIDDAY BRIEFING : Hopes Inflation Has Peaked Lifts Mood
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09/12British Betting Group Entain Faces Probe from Australia's Financial Crimes Regulator
MT
More news
Analyst Recommendations on ENTAIN PLC
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Financials
Sales 2022 4 285 M 4 684 M 4 684 M
Net income 2022 203 M 222 M 222 M
Net Debt 2022 2 432 M 2 659 M 2 659 M
P/E ratio 2022 38,3x
Yield 2022 1,54%
Capitalization 6 377 M 6 972 M 6 972 M
EV / Sales 2022 2,06x
EV / Sales 2023 1,82x
Nbr of Employees 23 390
Free-Float 97,6%
Chart ENTAIN PLC
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Technical analysis trends ENTAIN PLC
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TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 17
Last Close Price 1 083,00 GBX
Average target price 1 979,40 GBX
Spread / Average Target 82,8%
EPS Revisions
Managers and Directors
Jette Nygaard-Andersen Chief Executive Officer & Director
Robert Matthew Wood CFO, Director & Deputy Chief Executive Officer
John Michael Barry Gibson Non-Executive Chairman
Sandeep Tiku Chief Technology Officer
Pierre Bouchut Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
ENTAIN PLC-35.65%6 972
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EVOLUTION AB-38.42%15 006
ARISTOCRAT LEISURE LIMITED-24.54%14 277