The Entain offices at Naas Road, Dublin. The Ladbrokes owner reported strong growth in the Irish and UK markets despite regulatory challenges in Brazil
Irish growth boosts Ladbrokes owner despite Brazil setback
LADBROKES owner Entain, with Irish offices on the Naas Road, reported a rise of two per cent in third-quarter net gaming revenue as strong performances in the Irish and UK market offset Brazil worries.
Brazil banned online gambling in September and the sports betting and gaming group with a location at Otter House in Fox-and-Geese noted a weaker performance in the country in the latest quarterly report.
UK and Ireland net gaming revenue went up by eight per cent with online sales growth of 14 per cent in the market surpassing the company’s expectations, and helped the group to enjoy an overall online growth of eight per cent.
In response to the ban in Brazil, Entain had cut its online sales outlook and tempered expectations.
It rearranged its full-year online net gaming revenues outlook to between four per cent to six per cent, but the work of the other markets helped provide a rise in the latest financial report.
On top of UK and Ireland, New Zealand, Spain and Canada also delivered double-digit growth.
It is also noted that the sale of Entain’s Central and Eastern European venture is tracking to close before the year comes to a close.
Underlying earnings are expected to be at the lower end of £910m to £960m range, but the company’s CEO is pleased with the quarterly performance.
Entain CEO Stella David said: “I am pleased with our Q3 performance which reflects the strength of our execution and reinforces the resilience of our globally scaled business as well as its ability to consistently deliver high-quality growth.
“Both online and retail are important parts of our business and valued contributors to tax revenues and local communities. We strongly urge the UK Government to carefully consider any further gambling tax increases which would threaten the viability of many shops, jobs and livelihoods.
“The underlying momentum we are seeing across our diverse portfolio supports our confidence in reiterating FY26 guidance.
‘I am confident our disciplined focus on growth and optimisation will deliver strong future cash-generation, and that Entain remains well positioned to be a long-term industry winner.”
