Entain – Online Gaming Pulls Profits Forward
Entain PLC (LON:ENT)’s net gaming revenue (NGR) rose 11% at constant currency to £1.8bn, as strong growth in online gaming offset weakness in retail, due to Covid-related shop closures. [soros] Q2 2021 hedge fund letters, conferences and more Underlying profits fell 12% to £205.6m, as a good result in the core business was offset by a £78.2m loss related to Entain’s stake in BetMGM. Underlying cash profits rose 12% to £401.5m, with guidance for the full year unchanged at between £850m and £900m. The board did not propose an interim dividend, but expects to be in a position to start paying divi...