Overview

Entain, a gambling company, reported strong growth in Brazil and the UK for the first half of 2024. They plan to focus on these markets for the rest of the year.

Brazil’s Revenue Surge

• In the first half of 2024, Entain’s revenue increased by 6%, with Brazil showing a 48% growth.
• Brazil’s net gambling revenue rose by 9% in the first quarter and 48% in the second.
• Legalization of online gambling and sports betting in Brazil from January 2025 is anticipated to boost interest.

Brazil’s Market Expansion

• Entain saw significant growth in Brazil by enhancing marketing strategies and introducing local payment methods.
• Plans for a regulated Brazilian market in 2025 are in progress, with Sportingbet already applying for a license.

European Expansion

• Entain experienced a 12% growth in Central and Eastern Europe.
• Croatia witnessed a 17% revenue increase, mainly attributed to the SuperSport brand acquisition.

UK and Ireland Challenges

• Revenue in the UK and Ireland dropped by 6% due to regulatory changes.
• Despite the decline, Entain is focusing on improving operations in these markets.

Future Strategies

• Entain aims to enhance customer experience and speed up gambling platforms in the UK and Ireland.
• Plans include developing LadBucks and introducing new betting options before the Premier League season.
• Optimizing sports betting apps for faster loading times is also on the agenda.

Conclusion

With a keen eye on Brazil as a key market, Entain is optimistic about reversing its previous losses and capitalizing on the upcoming Brazilian gambling market regulations. Stay tuned for updates on their performance in the second half of 2024.