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Entain: Strong 2021 performance demonstrating strength of our diversified growth model and global platform

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Entain plc, the global sports betting, gaming and interactive entertainment Group, is pleased to announce its results for the year ended 31 December 2021. The strong performance reflects the capabilities and diversification provided by the Group’s industry leading platform in driving growth.

Operational Highlights:

  • Strong growth across the Group with NGR up 7% (8%cc) in the year
    • Online NGR up 12% (13%cc) in 2021, the ninth consecutive year of double-digit online growth
    • Growth in actives of 25% in the year as we expand our appeal to a broader audience
    • Good performance in Retail as year end volumes returned to over 90% of pre-Covid levels
  • BetMGM continues to go from strength to strength as a leader in the fast growing US market
    • Established as the number two operator for sports betting and iGaming with a 23% market share in the fourth quarter across the markets in which it operates
    • Market leader in iGaming with 29% market share in Q4 2021 in the markets in which it operates
    • Live in 21 markets, reaching over 37% of the U.S. adult population, with launches in Illinois and Ontario planned for the coming months
    • Upgraded expectations for net revenue from operations of over $1.3bn in 2022 and anticipates reaching positive EBITDA in 2023
  • Continued execution of growth strategy into new markets
    • Completed acquisitions of Bet.pt in Portugal and Enlabs AB in the Baltics as well as UNIKRN to drive access to the esports skill based wagering market
    • Further growth secured since the start of the new financial year with three transactions, including the acquisition of Avid Gaming to drive growth across Canada
    • Launch of the Ennovate hub to explore use of innovative technologies, products and services to further enhance the customer experience
  • Further progress under the Group’s Sustainability Charter delivering industry leading ESG
    • ARCTM (“Advanced Responsibility & Care”) programme continues to progress well, with real-time customer interaction trials underway, along with initial stages of international rollout
    • A number of initiatives launched across the year, including a commitment to net zero carbon emissions by 2035, and EnTrain to benefit the lives of 1m people through access to technology
    • Named EGR Operator of the Year, as well as Socially Responsible Operator of the Year at the SBC Awards North America
    • Entain continues to be the only online-led gaming company included in the Dow Jones Sustainability Indices, in addition to its continued inclusion in the FTSE4Good index

Financial Highlights:

  • Strong financial performance; Group Underlying EBITDA1,4 up +5% at £881.7m at the upper end of guidance
    • Online Underlying EBITDA1,4 up +12% at £899.0m reflecting the double digit growth in all key markets excluding Germany and the Netherlands (excluding Germany and the Netherlands online NGR was +21cc%)
    • Total Retail NGR -7%cc (-3%cc9) and Underlying EBITDA1,4 of £66.9m was £31.4m behind the prior year
    • Total Group Revenue of £3,830.0m up +8% (+9%cc) in 2021
    • Including 50% share of BetMGM joint venture, Group FY21 NGR was up 14% (15% cc)
  • BetMGM (the Group’s joint venture in the US) continues to perform strongly, with FY21 NGR of approximately $850m7, up nearly 5 times versus the prior year
  • To repay £44m received under the Coronavirus Job Retention Scheme (“furlough scheme”) in FY21
  • Group profit after tax1 was £275.6m, up 142% compared to 2020
  • Underlying free cashflow8, before the investment into BetMGM and acquisitions/disposals, of £537.3m
  • Year end net debt of £2,086.4m with leverage at 2.4x ensuring balance sheet flexibility to support our growth strategy

Jette Nygaard-Andersen, CEO of Entain, commented:

“Our Full Year results demonstrate yet again that Entain is a business with growth built into its business model. Our strong performance is underpinned by the Entain platform which encompasses the compelling combination of our proprietary technology, our outstanding people around the world, and our industry-leading operational capabilities.  It is this unique platform that enables us to deliver an ever-improving customer experience, to embrace emerging consumer and technological trends, and to grow into new markets and product areas.

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All of our major markets have performed well.  In particular, BetMGM in the US has delivered a five times increase in net gaming revenue versus the previous year, and is ready to challenge for the number one position across the markets in which it operates.  Elsewhere, our retail business has recovered strongly and volumes have now returned to 90% of pre-Covid levels as restrictions have eased and customers have returned to our shops.

As ever, I would like to thank each and every one of our colleagues for their dedication, hard work and professionalism in helping to achieve these results. Given the quality of our people, the ongoing broad-based growth of the business, its continuing momentum, and the investments that we are making in innovation to support our future expansion, we remain confident in our financial performance for FY22 and beyond.”

Group Reported1,2
Year ended 31 December 2021 2020 Change CC3
£m £m % %
Net gaming revenue (NGR) 3,886.3 3,628.5 7% 8%
Revenue 3,830.0 3,561.6 8% 9%
Gross profit 2,435.8 2,308.6 6%
Underlying EBITDAR4 898.8 862.1 4%
Underlying EBITDA4 881.7 843.1 5%
Underlying operating profit5 484.1 529.5 (9%)
Underlying profit before tax5 527.3 350.6
Profit after tax 275.6 113.8
Diluted EPS (p) 44.7 15.6
Continuing adjusted diluted EPS(p) 53.8 62.8
Continuing adjusted diluted EPS excl US(p) 81.1 73.1
Dividend per share (p)

Dividend
The Board has not proposed a final dividend for FY2021.  Recognising the importance of dividends to shareholders alongside our capital allocation priorities in supporting the Group’s growth strategy, the Board continue to keep the recommencement of the payment of dividends under on-going review.

Outlook
The Group has delivered strong results in FY2021, reflecting both the diversified nature of our business model, the strength of our platform and the quality of our people.  As we start 2022 we see retail heading towards pre-Covid levels and online performing inline with expectations against tough prior year comparables.  As global economies steadily emerge from the impact of the pandemic, we continue to provide our customers with great products and experiences.  As a result, we remain confident in our financial performance for 2022 as well as our long-term prospects.

Notes

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  • 2021 and 2020 reported results are audited and relate to continuing operations
  • Reported results are provided on a post IFRS 16 implementation basis
  • Growth on a constant currency basis is calculated by translating both current and prior year performance at the 2021 exchange rates
  • EBITDAR is defined as earnings before interest, tax, depreciation and amortisation, rent and associated costs, share based payments and share of JV income. EBITDA is defined as EBITDAR after charging rent and associated costs. Both EBITDAR and EBITDA are stated pre separately disclosed items
  • Stated pre separately disclosed items
  • Adjusted for the impact of separately disclosed items, foreign exchange movements on financial indebtedness and losses/gains on derivative financial instruments (see note 10 in the financial statements. EPS is also disclosed excluding BetMGM as this gives a better view of the EPS attributable to the Entain trading businesses)
  • BetMGM revenues comprise of sports (Online and Retail) and iGaming revenues
  • Underlying free cashflow is EBITDA less working capital, capital expenditure, finance lease, corporate taxes and before the investment in BetMGM and acquisitions/disposals
  • Retail numbers are quoted on a LFL basis. During 2021 there was an average of 4,540 shops in the estate, compared to an average of 4,727 in the same period last year

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Compliance Updates

EGARA & CityMaaS Launch First Gambling-Focused Accessibility Toolkit Ahead of June Compliance Deadline

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Digital accessibility has become a legal, reputational, and operational risk that gambling operators can no longer afford to ignore. With less than three months until EU Member States must begin enforcing national laws implementing the European Accessibility Act (EAA), gambling industry stakeholders face a fast-approaching compliance challenge.

Failure to meet accessibility requirements could expose operators to financial penalties, enforcement action, public scrutiny, and consumer litigation—especially if key features like responsible gaming tools are not accessible to all users. We’ve already seen how this can unfold in the United States, where thousands of lawsuits have been filed under the Americans with Disabilities Act against digital platforms, including online gambling operators.

In response, gambling advisory firm EGARA and accessibility technology and certification provider CityMaaS have announced a strategic partnership to deliver the first-ever accessibility solution tailored to gambling operators by combining their respective fields of expertise.

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This includes accessibility audits, product integration support, certification, and staff training—all delivered with a deep understanding of the unique demands and risks faced by licensed operators in highly regulated gaming markets. It addresses a long-overlooked risk area that also ties directly into responsible gaming, fairness, and user protection.

Key highlights of the EGARA x CityMaaS Partnership:

  • Readiness check: The partnership between EGARA and CityMaaS offers operators a readiness check and manual to implement across their business.
  • Certification: The partnership offers operators a solution to certify their accessibility offering. This will prove highly important for operators as several gambling regulators have confirmed the regulations are in scope and are already themselves being called to action by accessibility enforcement bodies.
  • Audit function: The partnership offers a tailored auditing, reviewing platforms’ accessibility offering, ensuring they reach more customers, more effectively in line with the projected regulations, while ensuring critical features like responsible gaming tools are available to everyone with fairness, transparency and actual protection of all groups.
  • ESG and Responsible Leadership: The collaboration offers bespoke advice and training to ensure operators lead— and not just comply—by embedding fairness and inclusion into the core of digital player experiences across all offerings including websites and customer service functions.
  • Technical Solution: CityMaaS’s technology incorporates the latest advancements in accessibility, providing a robust and reliable solution for EGARA’s clients in the gambling industry.

Operators and platform providers can begin accessibility readiness assessments now: www.egara.co/contact-us.

Jessica Maier, Co-founder of EGARA said: “Despite its transformative potential to harmonize accessibility standards across the EU, the European Accessibility Act has surprisingly remained underdiscussed within our sector, leaving many organisations unprepared for its imminent impact. Through our partnership with CityMaaS, we’re enabling operators to rapidly close any existing gaps to reduce legal and reputational risk, and ultimately make gambling platforms more inclusive and sustainable, bolstering responsible gaming efforts and providing opportunity for sustainable growth.

“CityMaaS is thrilled to collaborate with EGARA to bring our state-of-the-art accessibility solutions to the gambling sector. Together, we are setting a new standard for accessibility and user experience,” said Rene Perkins, CEO of CityMaaS.

The post EGARA & CityMaaS Launch First Gambling-Focused Accessibility Toolkit Ahead of June Compliance Deadline appeared first on European Gaming Industry News.

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Slotsjudge Teams Up with Bullshark Games to Deliver Fair iGaming Experience

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Slotsjudge and Bullshark Games, a slots game provider, join forces to bring players even more exciting high-tech games.

With Bullshark Games, we will deliver even more valuable reviews and in-depth analyses of the studio’s latest slot releases. Slotjudge’s goal remains to help players discover reliable games through relevant, verified, and easy-to-follow guidance.

This partnership is great news for players seeking fresh and trendy games with unique twists. Bullshark Games offers an impressive range of slots known for creative mechanics and top-notch performance across all popular platforms. Additionally, each title benefits from Bullshark’s fairness system and Hacksaw Open RGS technology, facilitating trustworthy and well-balanced outcomes. For Slotsjudge users, this collaboration means access to even more new slots that combine excitement with reliability.

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Andre Villandberg, CEO and Founder of Bullshark Games, shared his thoughts: “We are really pleased to have partnered with Slotsjudge. Bullshark Games is growing at a great pace, and the support of leading affiliates really helps facilitate that growth. We look forward to some exciting collaborations in the not-so-distant future!”

Looking ahead, Slotsjudge intends to keep delivering detailed slot reviews, exclusive interviews, and potentially even blog content along with other exciting new features.

Jekaterina Dubnicka, Head of Marketing and Communications at Slotsjudge, also commented: “Working with Bullshark Games is an exciting step for us. Their creative approach and strategic vision align perfectly with what our audience expects — trustworthy, innovative, and high-end gaming experiences.”

The post Slotsjudge Teams Up with Bullshark Games to Deliver Fair iGaming Experience appeared first on European Gaming Industry News.

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Cosmic Collaboration of TotoGaming and Pragmatic Play

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Motivating and Result-Oriented Challenges

On March 4, 2025, TotoGaming launched Journey to the Galaxy, a game developed in collaboration with leading content supplier Pragmatic Play. The game’s creation story is about more than just a partnership.

In 2024, Pragmatic Play announced a competition for licensed operators in the Armenian market, awarding points for completing challenges designed to boost player engagement. The prize was an exclusive bespoke game tailored to the operator’s precise requirements.

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“For TotoGaming’s team, this was an exciting opportunity to test our skills. Although our brand has been in the market for 20 years, we love participating in competitions and setting new challenges for ourselves. Pragmatic Play’s competition was exactly that. Our team spent months developing creative marketing campaigns and coming up with innovative approaches. The result is TotoGaming’s victory, which was truly inspiring,” says Victorya Harutyunyan, Head of Product Marketing Department.

Introducing “Journey to. the Galaxy”

After TotoGaming won the competition, the process of developing the exclusive game began. One of Pragmatic Play’s existing games already featured all the elements that interested TotoGaming, from Buy Bonus options to free spins. The next step was to define the new game’s theme and branding.

“This is where one of the most exciting phases began. Our team found the concept we wanted to visualize in this game—an extension of TotoGaming’s vision and mission. The idea was to transport users to another ‘gaming’ world, essentially to another TotoGaming galaxy. That’s how the game got its name—Journey to. the Galaxy. We worked extensively with Pragmatic Play on every detail—from TotoGaming’s flag to the well-known Toto icon. Even the music was carefully selected,” Victorya Harutyunyan added.

The careful attention to detail is reflected in the fact that both TotoGaming and Pragmatic Play were meticulous in their approach to the game’s development. The TotoGaming team outlined the concept, while Pragmatic Play designed and built the game to the high standards for which it is valued. The project started on July 9, 2024, and was completed in March 2025.

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The final product is a new, dynamic game with captivating visuals and engaging mechanics, designed to resonate with the Armenian market.

“This collaboration also unlocks cross-promotion and expanded marketing opportunities, allowing us to strategically plan game teasers and targeted communications that strengthen player engagement”, concluded TotosGaming’s Head of Product Marketing Department.

The post Cosmic Collaboration of TotoGaming and Pragmatic Play appeared first on European Gaming Industry News.

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