Entain Reiterates FY24 EBITDA of £1.09 Billion
Entain has reaffirmed its FY24 EBITDA guidance, expecting to hit the top of its £1.04 billion to £1.09 billion range. Meanwhile, BetMGM, the company’s U.S. joint venture with MGM Resorts, projects a $250 million EBITDA loss for the year, consistent with its designation of 2024 as an “investment year.”

BetMGM’s $250M Loss: A Strategic Investment
BetMGM remains a critical growth driver for Entain in the U.S. However, in 2024, BetMGM expects a $250 million EBITDA loss, with $123 million in losses reported in both H1 and H2.
While customer-friendly sports results in October and December impacted profitability, the joint venture is maintaining its strategic focus on building market share, investing in technology, and expanding its footprint.
Despite strong competition from U.S. market leaders FanDuel and DraftKings, BetMGM remains a key pillar of Entain’s global strategy.
On the global front, Entain’s FY24 EBITDA is expected to hit the top of its projected £1.04 billion-£1.09 billion range.
Regulatory Challenges Loom
Entain faces significant legal and financial hurdles, with AUSTRAC (Australian Transaction Reports and Analysis Centre) initiating proceedings over alleged breaches of anti-money laundering laws.
These include claims that the company accepted AUD 96.6 million in bets from 17 customers flagged for suspicious criminal activity. Analysts estimate potential fines ranging from £20 million to £225 million, adding pressure to Entain’s financial outlook.
To address operational weaknesses, CEO Gavin Isaacs has introduced reforms aimed at improving organizational culture and updating legacy systems like Bwin’s platform. Meanwhile, COO Dafne Guisard is focusing on integrating recent acquisitions to optimize efficiency.
Entain’s FY24 results will be revealed on March 6, 2025, with BetMGM’s update coming earlier on February 4, 2025.
Recommended