Entain has reiterated its FY2026 guidance after reporting steady growth in its Q1 trading update, supported by strong online performance in key markets.
Group net gaming revenue (NGR) rose 3% in the three months to 31 March 2026, in line with expectations, driven by an 8% increase in volume. Online NGR grew 5%, with iGaming up 9%, offsetting a slight 1% decline in sports betting due to softer margins.
UK & Ireland were the highlight of the results with an increase in online revenue of 13% as Entain gained more market share. Australia also grew 13% and both regions outperformed their expectations. In total, Entain’s core markets grew by 10% YoY in terms of online volume. In light of the results, Entain confirmed its 5%–7% guidance for online NGR growth for the year and also stated that it remains on track to deliver approximately £1.13 billion in EBITDA for FY26. The company also reiterated its longer-term goal of generating a minimum of £500 million in annual EBITDA by 2028.
Entain CEO Stella David said:
We entered 2026 with strong momentum which has continued in Q1, with strong volume growth across our diversified portfolio. This further demonstrates our ongoing strategic execution and strengthening operations, and also highlights the growth embedded in our globally scaled business. Our strong and resilient business has started the year well, and we continue to build on this momentum. Our sharper focus and optimisation initiatives reinforce our conviction in delivering sustainable growth and improving cash generation. Entain remains well positioned to be a long-term industry winner, seizing the many opportunities ahead, and I am confident in our future.
Regionally, UK & Ireland NGR increased by 6% due to online revenue growth off-setting minor declines in retail revenue. International revenue grew by 1% from continued online growth despite disappointing sports performance seen in Italy & Brazil. On the contrary, Central & Eastern Europe experienced a 6% drop primarily due to the decrease in retail revenue.
Separately, Entain’s joint-venture with BetMGM generated revenue of $696 million in Q1, with a 6% increase compared to the same period last year, driven by 9% growth in iGaming and 4% growth in online sports. Adjusted EBITDA also improved to a positive number, but the company’s overall forecast for total revenue has decreased slightly; however, EBITDA margins should remain intact.
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