Entain is on the mend – the company is boosting net profits from the online segment

In 2021, Entain has significantly increased revenue and is closer to its pre-crisis numbers. The organization’s CEO, Jett Nygaard-Andersen, said in a press release.

“The results once again prove that financial growth is embedded in Entain’s very model. We set high goals for ourselves and achieve them through hard work, outstanding people, proprietary technology, and broad operational capabilities. In doing so, the company is constantly improving customer service, taking into account new trends and market trends, and exploring different products and markets,” says Entain’s CEO.

According to the report, the brand’s 2021 revenue was $6.13 billion. This figure exceeded the result in 2020 by 8%. Gross profit was $3.23 billion, and EBITDA (earnings before interest, taxes, depreciation and amortization) reached $1.17 billion. Compared to last year, these figures were up 6% and 5%, respectively. After taxes, Entain’s net income was more than $366 million.

To a large extent, the company was able to achieve these results due to the growth of the online segment. Net income in this area increased by 12% in 2021. Retail is also gradually returning to pre-crisis levels.

Jette Nygaard-Andersen thanked all employees for their hard work, “I want to say a big thank you to each of my colleagues. You are all examples of dedication, hard work and professionalism. This is what has allowed the company to achieve these results.”

Entain added that BetMGM is ready to continue its active development in the American market. The company now ranks second here in terms of sports betting and online casino turnover. Its share in the fourth quarter of 2021 was 23%.

Recall that Scientific Games Corporation changed its name to Light & Wonder.