Entain Share Discussion Threads

[italianofacile] 29/7/2024 14:43

MGM have completely outplayed Entain on this one..Entain and it's future are much more woven into the performance or not of their US JV.MGM are not..their main business is hotels and entertainment..in fact just means half share of Betmgm got cheaper..Entain need to hold their nerve or they will be snapped up at a ridiculous price..

[macarona] 29/7/2024 14:32

Demonstrates how corrupt the U.K. market is…MGM up 2% whilst ENT down 10% on the exact same news….??!

[phillis] 29/7/2024 14:31

Double speak for the fact it is costing more than expected to retain customers

[bargainsniper] 29/7/2024 13:38

Mgm 1% up

Just the shorters here pushing the price down

We already knew 2024 is an investment year for Betmgm hence the 123m loss. "Exceeding goals for both acquisition and retention, which should lead to higher year-over-year revenue growth for the second half of this year into 2025".

[its the oxman] 29/7/2024 12:24

BetMGM reports core loss of $123 mln for the first six months that ended on June 30* The venture, which was earlier targeting a core profit of $500 mln by 2026, now expects to achieve the milestone in the "coming years"* As of last close, ENT down 34% YTD

[stamford hill] 29/7/2024 12:19

Going way lower imo. Ftse 100 reshuffle first week of September. Entain currently clinging on but for how much longer. Institutions will be bailing out if they're not already..

[badger8888] 29/7/2024 12:05

If the board don't produce a great set of figures ENT could be taken out very cheaply, shareholders nursing some very nasty losses.

[suetballs] 29/7/2024 11:47

Well apart from ent and rkt the ftse is doing ok.
So something to be cheerful about.
Suet

[mylands] 29/7/2024 11:42

DISASTROUS!

[italianofacile] 29/7/2024 11:41

SP falls are only going to be commented on when the reason is opaque,clearly here the market is spooked by the update..as someone commented financing marketing spend through bank debt is a road to ruin...EBITDA of Betmgm has nothing to do with EBITDA of Entain as it's accounted for below the line as a JV

[macarona] 29/7/2024 11:22

I wonder if MGM share price will also drop by 9%??

[suetballs] 29/7/2024 11:17

Well I believe a 9% fall in share price is pretty material.
Suet

[bargainsniper] 29/7/2024 11:16

Did you miss this in the Betmgm rns"EBITDA consistent with expectations of 2024 being an investment year"

[italianofacile] 29/7/2024 11:12

Entain are only going to comment further if it materially impacts their H1..Given it's a below the line accounting ,it's only going to be material in terms of outflows of cash..given losses are being easily financed at Betmgm by debt ,it's not material .more interesting perhaps is the lack of a profit warning from Entain itself .the market is expecting EBITDA to be in track for 1billion..10 percent below that or significant doubt ,then a trading update and Profits warning may well be on its way in the next couple of days .

[navigo] 29/7/2024 10:34

ANOTHER DISASTER BETTING STOCK

"Entain fell as it said that BetMGM, its sports betting and iGaming operator in the US, surpassed the $1bn mark for revenues in the first half, but still made a loss as a result of heavy investments during the period."

[suetballs] 29/7/2024 10:30

I would want to comment if my shares were down 8%!
Suet

[suetballs] 29/7/2024 10:24

Would have been sensible for ent to comment on the betmgm update.
But as usual total silence.
Suet

[its the oxman] 29/7/2024 10:21

Have forecasts been cut?

[strawberry alarm clock] 29/7/2024 10:12

This made me laugh 95% of IGs spreadbets on ENT are long MUGS

[davius] 29/7/2024 08:55

Entain's BetMGM sees "accelerating momentum" after strong first half
29th July 2024 09:16

from Alliance News


ENT
-5.75%

(Alliance News) - Entain PLC on Monday said its US sports betting joint venture, BetMGM, had a strong first half, showing "accelerating momentum".

Entain is an Isle of Man-based sports betting and gaming firm. BetMGM LLC is a sports betting and iGaming operator co-owned by Entain and Las Vegas, Nevada-based MGM Resorts International.

BetMGM reported a 6% increase in net revenue from operations to USD1 billion for the half year that ended June 30 compared to a year before. In the second quarter alone, net revenue growth was 9% annually, picking up pace from 3% in the first quarter.

BetMGM reported a USD123 million loss before interest, tax, depreciation and amortisation for the half year. However, it attributed this to 2024 being an "investment year", with the firm focused on supporting customer acquisition and enhanced player experience initiatives.

BetMGM said it has exceeded its goals for both acquisition and retention, and expects this to lead to "higher year-over-year revenue growth" for the second half of the year.

Chief Executive Officer Adam Greenblatt commented: "Our iGaming business continues to perform strongly with attractive returns, and to maximize this strength and momentum, we plan to deploy additional marketing in the back half of this year. Our execution roadmap, building momentum and prospects ahead all support our confidence in BetMGM's strong future".

Entain shares were down 3.4% to 627.20 pence per share in London on Monday morning.

By Lydia Doye, Alliance News reporter

Comments and questions to [e-mail]

[suetballs] 29/7/2024 08:52

Sub £6 - this is indeed titanic.
Suet

[macarona] 29/7/2024 08:28

Great update….at creating share price value destruction….
At this rate, by the time Entain update, we will be £5…shambles.

[davius] 29/7/2024 08:04

II report this morning sounds upbeat. The share price says otherwise.

Ladbrokes owner Entain hailed a first-half of "accelerating momentum" for its BetMGM US joint-venture. It said BetMGM's net revenue from operations rose 6% on-year in the first six months of 2024 to USD1.0 billion. Second-quarter growth spiked to 9%, from 3% in the first. It reported a loss before interest, tax, depreciation, and amortisation of USD123 million, an outcome "consistent with expectations of 2024 being an investment year". "The first half of this year has been very important in laying the groundwork for BetMGM's future. 2024 is a year of investment, focusing on improving our customer experience and stepping up our level of investment in players. We are encouraged to see this strategy delivering accelerating momentum. We have exceeded our goals for both acquisition and retention, which should lead to higher year-over-year revenue growth for the second half of this year into 2025," Chief Executive Officer Adam Greenblatt said. "Our iGaming business continues to perform strongly with attractive returns, and to maximize this strength and momentum, we plan to deploy additional marketing in the back half of this year. Our execution roadmap, building momentum and prospects ahead all support our confidence in BetMGM's strong future." The BetMGM joint-venture is co-owned by one-time Entain suitor MGM Resorts International.

[phillis] 29/7/2024 07:58

Doubtful that the BOD have much of an input to BetMGM