Entain ends year with earnings at top-end of guidance

(Sharecast News) - Gambling giant Entain reaffirmed its full-year 2024 EBITDA guidance on Monday, buoyed by operator-friendly sports results during the final quarter of the year. The FTSE 100 company said it now expected group EBITDA to land at the top of its previously stated range of £1.04bn to £1.09bn.

That marked an improvement from its October projection, which anticipated results toward the upper end of the range.

Entain's US joint venture, BetMGM, also maintained its previously-issued guidance.

Despite customer-friendly sports results in October and December, BetMGM reiterated its forecast for a full-year EBITDA loss of around $250m, consistent with its earlier announcement that 2024 would remain an investment-focused year.

In its half-year update in July, BetMGM projected a second-half EBITDA loss similar to the $123m reported in the first half.

At 0820 GMT, shares in Entain were up 7.72% at 672.36p.

Reporting by Josh White for Sharecast.com.