High street retail returns and online falls as normality resumes for Entain

Entain Ladbrokes Coral high street retail
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Entain, the owner of Ladbrokes Coral and subject of recent takeover bids, has reported a rise in retail but a fall in online growth as gaming revenues trend back towards pre-covid parameters.

 

The bookmaker said that revenues from its UK betting shops had risen 1 per cent during the quarter compared to the same period in 2020, as footfall on high streets slowly recovered.

Overall revenues were partly weighed down by new regulations for online casino games in Germany, but excluding that, Entain said “all major markets . . . delivered a strong performance, particularly in Australia and Brazil”. However, year-on-year online growth fell to 10 per cent from 26 percent in the same period last year.

Whether the shops and online platform will continue to exist under one operator for much longer is another matter, with the UK-based group approached by DraftKings, with a £18.4bn takeover offer last month, which is more than £10bn higher than casino giant MGM’s offer for Entain in January this year.

If a US firm does purchase Entain, it is expected that UK shops will be sold off as in the case of the acquisition of William Hill, where 888 bought the real estate from new owner Caesars.


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