Women's Euros And Club World Cup Boost Ladbrokes Owner Entain's.
CFO says Women's Euros and Club World Cup boost online betting
Entain raises yearly online net video gaming revenue growth projection
Annual core revenue projection goes beyond market expectations
By Yamini Kalia
Aug 12 (Reuters) -
British gaming company Entain anticipated its annual core earnings outlook above market expectations on Tuesday, driven by strong online wagering momentum of the Women's Euros and the inaugural Club World Cup tournament.
"We're seeing a rise in interest in female sports," Entain CFO Rob Wood informed Reuters, including that the current
Women's Euros
, where the British soccer team scored a historic win versus world champs Spain, was the most bet-on women'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 revenue in the UK and Ireland, its biggest market, came ahead of expectations with a 9% growth at constant currency for the six months ended June.
Total net gaming profits rose 10% at continuous currency.
Entain shares increased almost 3% on Tuesday, before paring gains to fall 0.5% lower by 0806 GMT.
Individual gamer fandoms have actually also altered betting behaviour in recent years, Wood stated, as more individuals are wagering on gamer outcomes instead of group results throughout matches.
"The most popular bets tend to be a mix of who's going to win the match, who's going to score the first objective, or the very first touchdown in the NFL," Wood said.
Entain recuperated a stronger-than-expected market share across its core regions in the first half of the year, offsetting the difficult comparison of in 2015, which had actually been enhanced by the Euros competition.
The its yearly online net gaming earnings growth to about 7% on a constant-currency basis, from previous expectations of a mid-single-digit percentage growth.
Annual core revenue is anticipated 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)