Gambling group delivers better-than-expected half-year results, helping it to brace for looming tax rises
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A flurry of bets on the football Club World Cup and summer tennis tournaments helped the UK gambling company Entain to better-than-expected results, helping it brace for looming tax rises in its domestic market.
The owner of brands including Ladbrokes and Coral reported an 11% rise in underlying profits to £583m in the first half of the year, on revenues that rose 3% to nearly £2.6bn.
At BetMGM, Entain’s 50%-owned US joint venture, revenues rose by more than a third. US sports betting continues to grow rapidly following the supreme court’s overturning in 2018 of a decades-old ban on the practice.
