Entain Q1 net gaming revenue jumps 15%

Ladbrokes owner Entain hailed a "strong" start to 2023 on Tuesday, as it posted a jump in first-quarter net gaming revenue (NGR) amid record levels of active customers.

In the period from 1 January to the end of March, NGR rose 15%, with continuing momentum across operations around the world. Meanwhile, online NGR was up 16%, in line with expectations.

Entain highlighted record levels of active customers, up 19% on the previous year, and a strong performance in Retail, with NGR 14% higher.

Chief executive officer Jette Nygaard-Andersen, said: "We are delivering both financially and strategically, with a record number of active customers enjoying our products, and we are executing on growth opportunities to further diversify and expand across regulated markets. In the US, BetMGM continues to grow in line with expectations and enjoyed a successful quarter which included the Super Bowl and March Madness.

"Looking ahead, we remain confident that our customer focus, diversification and proven ability to grow organically and through M&A will enable us to demonstrate further progress against our strategy."