Women's Euros And Club World Cup Boost Ladbrokes Owner Entain's.
CFO states Women's Euros and Club World Cup boost online betting
Entain raises annual online net gaming income development projection
Annual core revenue forecast exceeds market expectations
By Yamini Kalia
Aug 12 (Reuters) -
British gaming company Entain anticipated its yearly core profit outlook above market expectations on Tuesday, driven by strong online wagering momentum of the Euros and the inaugural Club World Cup tournament.
"We're seeing an increase in interest in female sports," Entain CFO Rob Wood informed Reuters, including that the current
Women's Euros
, where the British soccer group scored a historical win versus world champions Spain, was the most bet-on ladies's Euros ever.
Entain saw record engagement during the Club World Cup
- the year's most bet-on football match - and the 2025 French Open, its most bet-on Grand Slam ever.
Entain's net gaming income in the UK and Ireland, its biggest market, came ahead of expectations with a 9% development at continuous currency for the 6 months ended June.
Total net gaming profits rose 10% at consistent currency.
Entain shares rose almost 3% on Tuesday, before paring gains to fall 0.5% lower by 0806 GMT.
Individual gamer fandoms have likewise altered wagering behaviour in the last few years, Wood stated, as more people are banking on gamer outcomes rather than team outcomes throughout matches.
"The most popular bets tend to be a combination of who's going to win the match, who's going to score the very first goal, or the first goal in the NFL," Wood said.
Entain recuperated a stronger-than-expected market share across its core areas in the first half of the year, balancing out the hard comparison of in 2015, which had actually been boosted by the Euros competition.
The company raised its annual online net gaming revenue growth to about 7% on a constant-currency basis, from previous expectations of a mid-single-digit portion development.
Annual core profit is expected between 1.10 billion and 1.15 billion pounds ($1.48 billion-$1.55 billion), above market expectations of 1.11 billion pounds.
($1 = 0.7440 pounds) (Reporting by Yamini Kalia and Unnamalai L in Bengaluru; Editing by Sherry Jacob-Phillips)