(Reuters) – First-quarter online gaming revenue announced on Wednesday beat expectations, helped by customer growth, even as the British gambling group faces intense competition and regulatory pressure in key markets. exceeded.
Gambling companies have repeatedly warned of regulatory pressure, and Entain expects annual profits to be hit by some restrictions in the UK and Netherlands as online gaming becomes more competitive.
Entain, which is looking for a new CEO after the sudden departure of Jett Nygard-Andersen in mid-December, saw total revenue fall 7% in the UK and Ireland, its biggest markets.
The owner of Ladbrokes, Coral and Party Poker said online net gaming revenue fell by a pro forma 2% in the three months to March 31, but group-wide net gaming revenue rose 6%.
According to consensus provided by the company, sell-side analysts expect online net gaming revenue to decline 4% to 6% on a pro forma basis.
(Reporting by Radhika Anilkumar in Bengaluru; Editing by Subransh Sahu)
