Entain benefits from strong retail performance in Q3

London-listed Entain has reported a 2 per cent increase in net gaming revenue for the third quarter of the year.

Retail net gaming revenue (NGR) was 10 per cent higher than Q3 2021 while Online NGR was 1 per cent higher, although this swings to a fall of 2 per cent on a constant currency basis.

Excluding the impact of the temporary Netherlands withdrawal, Online NGR would have been up 4 per cent, or 1 per cent in constant currency.

The company benefited from a record number of active online customers during the period, as well as a strong performance from BetMGM, with the U.S. business on track to achieve full year NGR of over $1.3bn.

Entain’s pending acquisitions of BetCity (Netherlands) and SuperSport (Croatia) are also progressing on track and are expected to complete in the fourth quarter.

The trading update also confirmed Entain’s full year EBITDA outlook of £925m to £975m, which would represent growth of 5-10 per cent over the prior year.

Shares in Entain plc. (LSE:ENT) were trading 2.20 per cent higher at 1,112.50 pence per share in London Thursday morning.