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Entain Plc (GMVHY) Q4 2025 Earnings Call Transcript

Shares in Entain PLC (LSE:ENT) jumped 5.7% to 611p after the Ladbrokes, Coral and Foxy Bingo owner reported full-year results ahead of expectations and struck an upbeat tone on its ability to absorb a looming increase in UK gaming duty. The bookmaker's group net gaming revenue rose 3% to £5.3 billion in 2025, with online up 5% to £3.9 billion in line with forecasts.

Deutsche Bank has reiterated its 'buy' rating on Entain PLC (LSE:ENT), citing a stronger-than-expected performance at its US joint venture BetMGM, which it says is on track to meet 2026 targets and now offers a clearer path to cash returns. Net revenue at BetMGM rose 33% year-on-year to $2.796bn, ahead of both company-compiled consensus of $2.772bn and previous guidance of “at least” $2.75bn.

Shares in Entain PLC rose 10%, bouncing off nine-month lows, after its US joint venture BetMGM reported a sharp swing to profitability and started to return cash to its parent companies. The sports betting and igaming outfit returned $270 million in cash to parent firms Entain and MGM Resorts International in the final quarter of the year.

Citi has tweaked its revenue forecasts for Entain PLC (LSE:ENT) for the final quarter of 2025, citing weaker sports betting trends in key markets, though it still expects solid results from the company and its US joint venture BetMGM. Analysts at the bank now expect BetMGM's net revenue to grow 29% at constant currency in the quarter, down from a previous estimate of 33%, following a reduction in projected betting…