Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Gambling rule changes cost Entain £40m in lost earnings

by March 7, 2024
March 7, 2024
Gambling rule changes cost Entain £40m in lost earnings

Entain, the gambling group known for brands such as Ladbrokes and Sportingbet, has disclosed a £40 million impact on its 2024 earnings due to regulatory challenges in Britain and the Netherlands.

Despite reporting robust overall revenue growth of 14% in 2023, including contributions from its American joint venture BetMGM, the company’s share price experienced a 4.5% decline following the announcement.

The regulatory headwinds include changes in British gambling rules and proposed tighter deposit limits in the Netherlands, both of which are expected to affect Entain’s short-term earnings. Stella David, Entain’s interim CEO, acknowledged the challenges faced by the company in the past year but expressed confidence in its ability to navigate through them and deliver future growth. Notably, positive developments in Brazil were highlighted as encouraging signs for the company’s growth prospects.

David outlined a clear plan to accelerate operational strategies, refocus the market portfolio, prioritize organic growth, and expand margins. She also commended the efforts of Entain’s global workforce in steering the business through a challenging period and emphasized the company’s commitment to driving organic growth into the future.

The departure of former CEO Jette Nygaard-Andersen in December followed pressure from activist shareholders concerned about Entain’s acquisition strategy. Ricky Sandler, founder of Eminence Capital and a prominent voice among investors, was appointed as a non-executive director in January, signaling a collaborative effort between the company and its shareholders to address concerns and drive value.

Entain, formerly GVC Holdings, operates globally with a diverse portfolio of sports betting and gaming brands. Despite challenges such as regulatory scrutiny and legal settlements, the company remains resilient, reporting underlying earnings slightly ahead of consensus forecasts for the full year.

Looking ahead, the appointment of a permanent CEO remains uncertain, with speculation revolving around potential candidates such as Andreas Meinrad and Rob Wood. As Entain continues to navigate regulatory challenges and optimize its business strategies, the focus remains on driving sustainable growth and delivering value to shareholders.

Read more:
Gambling rule changes cost Entain £40m in lost earnings

0
FacebookTwitterGoogle +Pinterest
previous post
Payback LTD Review – Experts That Are Known For Their Process Of Recovering Your Funds
next post
Truck Invoice Factoring 101: How It Works And Why It Matters

You may also like

Rishi Sunak to Extend Child Benefit to Higher...

June 7, 2024

Best Winter Daytrips from Harlow

December 11, 2024

Ed Miliband launches state-backed offshore wind initiative

July 25, 2024

New dates for industrial action announced by Aslef...

April 27, 2023

National Apprenticeship Week: Using apprenticeships as a workforce...

February 2, 2024

North and Midlands to Benefit from £4.7bn Local...

February 26, 2024

Twelve engineering companies participate in pilot Academy programme...

July 18, 2023

8 Reasons Why You Should Use MegaFamous in...

October 4, 2022

Usain Bolt moves to trademark signature victory pose

August 23, 2022

The General Election is a perfect ‘Window of...

May 17, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025
    • Tech ETFs are Leading Since April, but Another Group is Leading YTD

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,567)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved