Entain’s 7% year-over-year revenue growth and a 9% increase in volume from its online segment helped fuel a strong first half of 2026.
Key Takeaways
- Entain’s H1 group net gaming revenue grew by 5% compared to the first six months of 2025.
- The World Cup helped push high volumes and first-time depositors.
- The global gaming company retained its FY 2026 guidance.
The global sports betting and iGaming company behind brands like Ladbrokes, Coral, and PartyPoker announced net gaming revenue of £2.5 billion during the first six months ending June 30, a 5% spike from the same period in 2025, on Thursday.
Higher volumes than expected from the World Cup and highlighted performances in the U.K./Ireland and Australia segments paired well with the company’s decision to exit Central Eastern Europe.
“I am pleased with Entain's start to 2026 with strong momentum and volume growth continuing as well as strong player engagement across the group throughout the World Cup tournament,” Entain CEO Stella David said.
“This performance reflects our strengthening operations and focused execution, which reinforces the resilience of our globally scaled business and its ability to consistently deliver high-quality growth.”
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By the numbers
Adjusted EBITDA of £479.2 million was down 2% from H1 2025, because of effects from the U.K.’s increased online tax structure, but it was still ahead of Entain’s expectations. Online Adjusted EBITDA produced a 21.4% margin, while BetMGM, which Entain owns 50% of, produced £6.7 million in parent fees EBITDA.
iGaming grew by 9%, while sports saw a 4% profit increase during a time when volume was up 9%, thanks to the biggest soccer event in the world.
U.K./Ireland and Australia segments each experienced 13% year-over-year revenue growth during H1. David said the Australian increase came from a new business model that featured a broader sports focus and less on horse racing in the region.
New Zealand’s online revenue growth spiked 21%, and the Bwin brand made a big turnaround in Spain, where profits grew by 28% in H1. Canada produced a 11% year-over-year revenue increase.
“Our focused execution and strengthening operations are enhancing both our product and player experiences across the group,” David said on the company’s earnings call. “The business also performed well during the recent World Cup, a key customer acquisition opportunity for us, and I am delighted that our first-time deposits were double those seen in the previous World Cup.”
Confidence remains
Entain executives said they “remain confident” with their current guidance for FY 2026.
The sale of its Central Eastern European assets to EMMA, announced in June, is expected to be completed in early Q4 2026. Entain will make a 20% divestment in that deal, and the company’s 47.5% continued stake is projected to generate £500 million of annual adjusted cashflow by 2028.
Online revenue growth is still expected to be 5% to 7%, and Underlying EBITDA is in line with the midpoint of £910-million to £960-million range. Online margins remain around 21% to 22%, taking the U.K. tax and the divestment into account.
BetMGM reconfirmed its $2.9- to $3.1-billion revenue range and Adjusted EBITDA of $300 million to $350 million, with the lower ranges expected, in a previous announcement.
“Entain is becoming a sharper, fitter, and better connected business,” David said. “I am confident our disciplined focus on growth and optimization will deliver strong future cash-generation, and that Entain remains well positioned to be a long-term industry winner.”
