Entain started 2026 on a high note with first-quarter net gaming revenue up 3 percent, fueled by booming online play and strong volumes across key markets. The company held firm on its full-year target of 5 to 7 percent online growth, even as softer sports results added pressure. Investors cheered the news, sending shares higher.
Entain posted group net gaming revenue growth of 3 percent on a constant currency basis for the three months ended March 31, 2026. This matched company expectations and came thanks to an 8 percent jump in overall volumes.
Online net gaming revenue led the way with a 5 percent rise. iGaming revenue climbed 9 percent, while sports dipped 1 percent due to customer wins. Online volumes soared 10 percent year over year.
Retail net gaming revenue fell 3 percent, but volumes held up with 3 percent growth. Stella David, Entain CEO, noted the results show real customer demand. Volumes tell the true story of engagement, she said.
Here is a quick look at key Q1 metrics:
| Metric | Growth (Constant Currency) |
|---|---|
| Group NGR | +3% |
| Online NGR | +5% |
| iGaming NGR | +9% |
| Online Volumes | +10% |
| Retail NGR | -3% |
UK and Ireland Power Ahead
The UK and Ireland region stole the show. Net gaming revenue there rose 6 percent overall. Online net gaming revenue jumped 13 percent, with volumes up 14 percent.
Gaming revenue grew 12 percent, and sports added 8 percent. Retail dipped 1 percent, but outperformed the broader market. Entain keeps gaining ground in the competitive UK online space.
Australia also impressed with online net gaming revenue up 12 percent and volumes plus 9 percent. These core markets beat forecasts and highlight Entain’s strength.
Sports Margins Face Headwinds
Sports betting margins softened across the board. Group sports margin dropped 1.5 percentage points. Online came in 1.3 points lower, and retail saw 1.9 points off.
Customer-friendly outcomes in soccer heavy periods hurt results. Yet, sports wagers rose 10 percent online and 6 percent in retail.
BetMGM, Entain’s US joint venture with MGM Resorts, bucked the trend. Net revenue hit 696 million dollars, up 6 percent. iGaming grew 9 percent, online sports 4 percent. Adjusted EBITDA reached 25 million dollars.
Outlook Stays on Track
Entain reaffirmed its fiscal 2026 guidance for 5 to 7 percent online net gaming revenue growth on a constant currency basis. The firm feels good about market views for 1.131 billion pounds in group underlying EBITDA, excluding BetMGM fees. This comes from 11 analysts as of early April.
By 2028, Entain eyes at least 500 million pounds in annual adjusted cash flow. BetMGM trimmed its full-year revenue view to 2.9 to 3.1 billion dollars but holds EBITDA toward the low end of 300 to 350 million dollars.
Growth drivers include:
- Market share wins in UK online.
- Strong iGaming across regions.
- Volume boosts from new players.
Entain runs powerhouse brands like Ladbrokes, Coral, bwin, and PartyPoker. It serves over 30 countries with a focus on safe play. The UK tax hike on online slots to 40 percent from April starts testing resilience, but early signs point to outperformance.
As gambling shifts digital, Entain bets big on tech upgrades and player tools. This positions everyday bettors for smoother experiences amid rising competition.
Entain’s Q1 success proves its model works in tough times. Online growth at 5 percent sets a positive tone for the year, with UK and Australia leading charges that benefit shareholders and users alike. The path ahead mixes promise and risks like margins and rules, yet the company stands ready.
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