Entain Aims for Growth with Diverse Portfolio and US Focus

The sports betting and gaming company Entain has good long-term development prospects thanks to its global reach, varied portfolio, and promising future in the US market.

The company just underwent an internal strategy review.

The Capital Allocation Committee, which was appointed by the Board, conducted a thorough analysis of Entain’s brands, competences, strategic assets, and worldwide reach.

Major areas for improvement were identified by the research, including a focused push into the US market, margin expansion, and organic revenue growth. The company’s financial position has been strengthened by recent loan agreements and credit facility renewals.

Entain is investigating strategic options for its non-core Georgian asset, Crystalbet. The business emphasized its dedication to margin improvement and organic expansion, with a particular emphasis on the US market, which has enormous potential.

“We see significant opportunities to drive organic revenue growth, expand margins, and achieve success in the US,” according to the research. The strategic loan adjustments and extension of Entain’s revolving credit facility have strengthened its financial position.

Notwithstanding declines in the markets in the UK and Ireland, Entain’s preliminary first-quarter results demonstrate performance in accordance with expectations.

The company highlighted that its efforts in client acquisition and retention helped Brazil bounce back to double-digit revenue growth in the second quarter.

In addition, the regulatory environment in the UK appears to be stabilizing after industry-wide slot limits and the implementation of a new industry code on safer gaming practices.

“These measures, coupled with an enhanced customer offering, support our expectations for renewed growth later this year,” the company said.

Earlier this month, Entain—which jointly owns BetMGM and MGM Resorts—was granted a license by the Nevada Gaming Control Board. Entain, formerly known as GVC Holdings, was prohibited from operating in Nevada because of unregulated markets.

In response to these worries, the company left 140 ungoverned areas, including those in Asia. Michael Charlton, Director of Entain’s Asia Pacific division, said in a recent interview that the company is willing to return to these nations provided that the legal framework is reinforced.

The strategic review also emphasized BetMGM’s outstanding achievements, such as adding more MLB and NBA sports betting alternatives.

While acknowledging the need for additional operational improvement, Entain Chairman Barry Gibson emphasized progress that is in line with the company’s goal. At the next interim results presentation in August, the Board will give more details about its advancement.

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Original Story by: Asian Gaming Brief