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

Published

3 years ago

March 7, 2022

Reading Time: 5 minutes

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
- ARC^TM (“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 EBITDA^1,4 up +5% at £881.7m at the upper end of guidance
- Online Underlying EBITDA^1,4 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 EBITDA^1,4 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.

European Gaming Congress 2024 (Warsaw, Poland)

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	Reported^1,2
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 EPS⁶(p)	53.8	62.8
Continuing adjusted diluted EPS excl US⁶(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

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

Emerging Poker Styles

Exploring Every Poker Variation: A Complete Guide to the Game’s Endless Possibilities

Published

9 hours ago

January 22, 2025

GamingAmericas.com

exploring-every-poker-variation:-a-complete-guide-to-the-game’s-endless-possibilities

Poker, a game often hailed as a test of skill and strategy, is available today in new formats and variants. Although the essence of the game remains intact, the dynamics shift frequently because of these innovations.

New versions mean unique gameplay, challenges, and strategies. Many players quickly adapted to the latest poker games, but some felt overwhelmed with new rules and styles.

If you’re a poker fan, stay tuned. Here, you’ll learn about all available poker game variations and emerging trends to become the master of this classic card game.

Classic Poker Variations That Stood the Test of Time

Nothing can beat the charm of classic poker games. You’ll easily find these game variations on every online and offline casino table.

Texas Hold’em

This most popular poker game is the crown of classic card games. Whether playing at a live VIP table or in tournaments, Texas Hold’em is available in both formats. With its emphasis on strategy, dodging bluffs, and analyzing opponents, this high-intensity card game keeps the players hooked throughout the gameplay. Players must make two private cards and five community cards to build the best hand.

Omaha

A closer relative to Texas Hold’em, this game requires using two hole cards and three community cards to form a hand. It’s a more challenging and rewarding version for pro poker players.

Seven-Card Stud

This was the go-to poker game before Texas Hold’em took center stage. During seven-card stud gameplay, players receive face-up and face-down cards. This game requires sharp memory and observation skills to show the A-game. Its methodical pace appeals to players who value skill over chance.

Five-Card Draw

Many beginners start their poker gaming journey by playing a five-card draw game. This version is like a training session where players aim to improve their hands by exchanging cards. Though simple, it still requires strategic decision-making. The game is also a top choice in casual gatherings.

Emerging Poker Styles Gaining Popularity

Poker has a deep history of offering varied styles to impress beginners and seasoned players. Check out three innovative poker styles that gained popularity by providing fresh challenges to skilled players.

Short Deck Hold’em:

This variation uses a smaller deck, removing cards ranked 2 to 5. As a result, players encounter more high-ranking hands. This format leads to unpredictable and action-packed gaming sessions.

Pineapple Poker:

Players start with three-hole cards in this quirky twist but must discard one after the flop. This added layer of strategy makes it both fun and engaging.

Open-Face ChinesePoker:

Unlike a traditional poker game, this one focuses on arranging the cards in three hands: two of five cards and one of three cards. Hand rankings and bonuses for specific combinations are used to score.

Regional Poker Variations and Their Unique Rules

Poker’s global reach also led to fascinating regional adaptations.

In Asia, Pai Gow Poker merges aspects of Chinese dominoes with the traditional poker game. Players vie against the dealer to create the most advantageous high and low hands. However, a widely embraced Asian variant is Badugi. Badugi requires players to assemble the lowest possible hand using cards from different suits.

Although both games stem from a shared heritage, they provide unique experiences that resonate with broader audiences. This diversity in gameplay addresses the differing preferences among poker lovers.

Next, European adaptations also bring their flair to the table. Irish Poker combines aspects of Texas Hold’em and Omaha. This regional version offers players four-hole cards but requires them to discard two after the flop. Meanwhile, European Stud Poker replaces blinds with antes, emphasizing skill over luck.

Hands-down, these variations highlight poker’s versatility and the game’s adaptability to various gaming cultures.

Understanding the Appeal of Poker Tournaments

The variety of formats in poker tournaments is an appealing aspect of the card game. From casual games to marathon-style multi-table tournaments, there is something for every player’s skill level and schedule.

Online platforms gave more open access to participate in these challenging tourneys and win big. Pro poker players from anywhere across the globe can join these exclusive events without ever raising their heads from a couch. Moreover, tournaments like the World Series of Poker (WSOP) offer a chance to go head-on with more talented players globally.

Quick Tips to Master the Popular Poker Variations

While the rules of poker may vary, the principles of success remain the same. To win, start by focusing on one variation and mastering its nuances. For example, understanding pot odds and positional advantages in Texas Hold ’em can significantly improve your game.

Another crucial aspect is bankroll management. Ensure you set a gambling limit and stick to it if you’re on a losing streak. Additionally, look for valuable insights and strategies on online forums.

FAQs

What is the easiest poker game for beginners?

Texas Hold’em is an ideal poker game for newcomers due to its simple gameplay.

Are poker tournaments only for professionals?

Not at all. Many tournaments cater to amateurs, with lower buy-ins and more casual settings.

How do you choose the right poker variation to play?

Before playing the game, consider your skill level and risk tolerance. Further, consider whether you like more strategic gameplay or fast-paced action.

Are regional poker variations harder to learn?

Not always. Once you understand basic poker principles, learning regional variations is relatively easy.

Wrapping It Up

Poker’s diversity is what makes the game so enduring worldwide. New formats and distinct gameplay can significantly improve the experience.

Whether you’re a professional player or even if you wish to enjoy the game casually, there’s a version to suit anyone’s gaming style. With a thorough understanding of the game’s rules and practice, you’ll thoroughly enjoy the game at its peak while beating the opponent more often.

The post Exploring Every Poker Variation: A Complete Guide to the Game’s Endless Possibilities appeared first on Gaming and Gambling Industry in the Americas.

BMM Testlabs

BMM Testlabs Earns Accreditation in Maranhão, Brazil To Test Fixed Odds Betting Systems and Lottery Platforms

Published

13 hours ago

January 22, 2025

GamingAmericas.com

bmm-testlabs-earns-accreditation-in-maranhao,-brazil-to-test-fixed-odds-betting-systems-and-lottery-platforms

BMM Testlabs, the world’s original gaming test lab renowned for exceptional product compliance and testing services, today announced its official accreditation to test systems and games for the Brazilian state of Maranhão.

This new accreditation allows BMM Testlabs to test fixed-odds betting systems and lottery platforms for the Maranhão market. The Company is now authorized in every Brazilian jurisdiction that has regulated at state-level online fixed-odds betting.

The Maranhão accreditation, issued by Maranhão Parcerias SA (MAPA/LOTEMA), authorizes BMM Testlabs to work with lottery operators in the state to ensure compliance and quality standards for the gaming and lottery industry through end-to-end product compliance testing for Maranhão’s standards.

Additionally, Brazil’s Secretaria de Prêmios e Apostas has federally authorized BMM Testlabs to test betting systems, live gaming studios, and online games used by fixed-odds betting operators.

BMM Testlabs’ Marzia Turrini, President of iGaming & Cybersecurity, said, “We are excited and deeply honored that the State of Maranhão’s official lottery has entrusted BMM Testlabs with the responsibility of testing products for their new online fixed odds betting program, knowing that we’ll do so with the highest levels of impartiality, technical expertise, transparency, efficiency, and, most of all, integrity.”

With the Maranhão accreditation, BMM Testlabs solidifies its position as the leading independent test lab in Brazil. BMM Testlabs is accredited in all jurisdictions that have authorized fixed-odds betting for online gaming and sports betting.

BMM Testlabs brings 44 years of global leadership in product compliance across regulated markets and is trusted by games, systems, and lottery manufacturers, suppliers, developers, and regulators worldwide.

In addition to product compliance testing, BMM Testlabs provides end-to-end cybersecurity protection solutions. Through its sister company, RG24seven Virtual Training, BMM also offers compliance-grade virtual training on responsible gaming, anti-money laundering, and other important topics – presented by industry experts and available in English, Spanish, and Portuguese.

The post BMM Testlabs Earns Accreditation in Maranhão, Brazil To Test Fixed Odds Betting Systems and Lottery Platforms appeared first on Gaming and Gambling Industry in the Americas.

eSports

Shaping the Future of Esports: ICE Esports Arena provides essential insights

Published

15 hours ago

January 22, 2025

George Miller

shaping-the-future-of-esports:-ice-esports-arena-provides-essential-insights

Reading Time: 2 minutes

The ICE Esports Arena at ICE Barcelona 2025 plays a key role in educating people about esports and how to access, integrate and regulate this growing vertical, says Clarion Gaming’s leader in Emerging Technology and Esports.

“Part of the role of the Esports Arena and The Esports and Games Conference is explaining exactly what esports is,” said Will Harding. “There is still work to be done in helping regulators to better understand esports. That’s why showcasing esports here at ICE is so important – we’re empowering people who are at the forefront of shaping regulatory policy.”

The ICE Esports Arena continues to grow year-on-year, with four world-ranked professional Counter-Strike 2 teams competing live at ICE 2025 for a US$25,000 prize pool. This year’s winners were 500 (Bulgaria: World ranking: 47).

“In terms of attendees, we have a whole spectrum of people here, from those that are still shocked that computer games have anything to do with sports betting to those that have built incredible businesses around esports,” Harding continued.

“There are also a number of visitors who realise that esports is significant for their business in terms of revenue but don’t necessarily know how to access this vertical, and we’re here to guide them toward unlocking its full potential.

“But the one thing which is absolutely certain is that esports betting is here to stay and it’s going to continue to grow”

He also praised headline partners, esports betting experts Oddin.gg, for their contribution in helping explain why esports is such a commercially important vertical for operators.

“Oddin.gg has been an excellent partner in realising the Esports Arena. Holding a professional esports tournament is a big endeavour. As our headline sponsor, Oddin.gg has played a key role in showcasing how the data and the odds work. They have helped complete the education journey,” he affirmed.

Commenting on ICE’s move to Barcelona, Harding highlighted that both the city and the show’s new venue Fira Barcelona Gran Via have extensive experience with esports, providing a perfect location for the ICE Esports Arena’s continuing expansion.

“It’s very established here. You can walk around Barcelona and see large-scale internet cafes catering for esports fans,” he added. “This represents an ideal foundation for the continued growth of the Esports Arena and The Esports and Games Conference in the years ahead.”

The post Shaping the Future of Esports: ICE Esports Arena provides essential insights appeared first on European Gaming Industry News.