Noting updated guidance from industry peers following sports results during the trading period of 1 October to 31 December 2024 (Q4), Entain plc (LON: ENT), the global sports betting and gaming group, has reiterated its FY24 guidance.
BetMGM
On 29 July 2024, BetMGM’s 1H-24 update announced that, consistent with 2024 as an investment year, 2H-24 EBITDA was expected to be similar to the -$123m EBITDA delivered in 1H-24.
Despite the customer friendly U.S. sports results seen during Q4, particularly in October and December, BetMGM reiterates its previous FY24 EBITDA guidance of approximately -$250m.
Entain
Entain’s Q3 trading update on 17 October 2024 stated that Group EBITDA was expected to be towards the top of the £1,040m-£1,090m guidance range1.
Following operator friendly sports results during Q4, we now expect Group EBITDA to be at the top of the £1,040m-£1,090m guidance range.
FY 2024 results
As scheduled, further details on trading performance and outlook for 2025 will be provided by BetMGM and Entain on 4 February and 6 March 2025 respectively.
Notes
(1) £1,040m-£1,090m guidance range was provided at Entain’s H1 Results (8 August 2024), and upgraded to be towards the top of the guided range at the Q3 update (17 October 2024)
Upcoming dates:
BetMGM FY24 Update: 4 February 2025
Entain plc FY24 Results: 6 March 2025
