Entain: Ladbrokes owner’s profit jumps thanks to online revenue growth
The expansion was driven by online expansion and a better-than-expected performance at its UK and Ireland businesses.
The Ladbrokes owner told the market on Thursday that earnings before interest, tax, deprecation and amortisation (EBITDA) rose 12 per cent in 2024 to £1.1bn.
UK and Ireland online net gaming revenue (NGR) surged 21 per cent in the fourth quarter as customer experience enhancements and streamlined operations paid off.
While NGR in its Brazilian arm rose 41 per cent over the year.
The global sports betting giant recorded a 14 per cent increase in online revenue in the second part of the year, due to improved player engagement, and better sports margins.
Recovery in spending per head also contributed to its first uptick since early 2021.
Chief executive, Stella David, said: “Entain has a high quality portfolio of iconic brands with podium positions in attractive markets.”
“Our return to organic growth is the beginning of our rebuild journey; our momentum continues, and we have started the year strongly. I am incredibly proud of our achievements so far and look forward to our opportunities ahead”.
“In 2024 we expanded our Online EBITDA margin to 25.3 per cent, ahead of expectation of 24-25 pr cent due to scale benefits from stronger than anticipated revenue performance, particularly in our UK business.
“In 2025, Online EBITDA margins is expected to remain broadly flat year on year reflecting our increasing scale and operating efficiencies offsetting the impact of Brazil’s new regulatory tax structure, and we remain confident of driving margin expansion in future years.”