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UK-based sports betting and gaming company operating brands like Ladbrokes, Coral, bwin and PartyPoker.
UK-based sports betting and gaming company operating brands like Ladbrokes, Coral, bwin and PartyPoker.
Earns the share of money staked that it keeps after paying winnings, from online sport and casino and from shops, so results vary with sporting outcomes and betting taxes. BetMGM, its US joint venture with MGM Resorts, is counted as a share of profit, not revenue. It grew through GVC's 2018 purchase of Ladbrokes Coral; GVC was renamed Entain in 2020.
In one line: A UK DraftKings/Flutter peer.
Moat: narrow (brand, scale, regulatory licence). Multiple established betting brands and gambling licenses across regulated markets.
Headquarters: London, UK · Employees: 28,413
Size Entain (ENT.L) is a United Kingdom Consumer Discretionary company (Casinos/Gaming) with a market value of $4.05B, the 106th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £470.80 on 6 Nov 2026.
Performance Over six months the shares fell 10.6%, against -13.2% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 8th highest of 18 in its peer set.
Growth Revenue grew 0.3% over the last twelve months (peer median +4.0%); the operating margin is 10.6% (peer median 17.3%).
Valuation It trades at 8.9× forward earnings against a peer median of 12.0× (2nd cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.3 points below its cost of capital (8.2% WACC).
Credit Entain has 1 bond outstanding ($557M), rated BB- by the agencies and trading like BB at a weighted spread of 218 bp.
Next results Next results expected around 11 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £5.18B | £5.26B | £5.09B | £4.77B | £4.30B |
| Revenue growth | — | +3% | +7% | +11% | — |
| Gross profit | £2.52B | £2.59B | £2.49B | £2.35B | £2.36B |
| EBITDA | £1.13B | £1.15B | £1.07B | £969M | £966M |
| Net income | -£579M | -£667M | -£453M | -£929M | £24.2M |
| Free cash flow | £646M | £550M | £486M | £389M | £562M |
| Capital expenditure | £320M | £340M | £298M | £261M | £212M |
| Total debt | n/a | £3.99B | £3.96B | £3.63B | £3.39B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Entain ENT.L | $4.05B | -11% | 0% | 11% | 8.9× | 3.2% |
| Flutter Entertainment FLUT | $14.2B | -19% | +12% | 2% | 14.3× | 26.3% |
| DraftKings DKNG | $9.19B | -27% | +15% | -3% | 55.1× | 9.7% |
| Betsson BETS-B.ST | $1.34B | +10% | 0% | 14% | 10.4× | -18.0% |
| Lottomatica LTMC.MI | $7.17B | +4% | +4% | 21% | 15.4× | -1.4% |
| Super Group (SGHC) SGHC | $5.77B | -13% | +14% | 23% | 11.7× | -0.2% |
| Rush Street Interactive RSI | $2.83B | -56% | +39% | 11% | 16.9× | 13.5% |
| FDJ United FDJU.PA | $4.49B | -5% | +3% | 15% | 10.6× | -2.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ENT.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.1% | +2.3% | 2nd highest of 18 |
| 6-month return | -10.6% | -13.2% | 8th highest of 18 |
| Distance from 52-week high | -41.2% | -36.8% | 6th lowest of 18 |
| Revenue growth (TTM) | +0.3% | +4.0% | 3rd lowest of 18 |
| Operating margin | 10.6% | 17.3% | 4th lowest of 18 |
| Forward P/E | 8.9× | 12.0× | 2nd cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 3.2% | 0.8% | 6th most demanding of 15 |
| Growth delivered (Del g) | +8.1% | +26.8% | lowest of 15 |
| Hurdle (Req g minus delivered) | -4.9 pp | -22.2 pp | 3rd most demanding of 15 |
| ROIC minus cost of capital | -0.3 pp | +6.6 pp | 5th lowest of 18 |
| EV / EBITDA | 6.2× | 8.2× | 3rd cheapest of 17 |
| Net debt / EBITDA | 3.1× | 2.8× | 9th most indebted of 18 |
| Bond spread | 218 bp | 189 bp | 4th tightest of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Entain ENT.L | United Kingdom | $4.05B | -11% | 0% | 11% | 8.9× | 3.2% | +8.1% |
| FDJ United FDJU.PA | France | $4.49B | -5% | +3% | 15% | 10.6× | -2.8% | +13.9% |
| MGM China 2282.HK | Hong Kong | $4.85B | -12% | +11% | 31% | 9.3× | -3.1% | +48.5% |
| Boyd Gaming BYD | United States | $5.41B | -11% | 0% | 19% | 10.1× | n/a | n/a |
| Wynn Macau 1128.HK | Hong Kong | $2.99B | -24% | +9% | 29% | 8.7× | -2.4% | +31.1% |
| Super Group (SGHC) SGHC | United States | $5.77B | -13% | +14% | 23% | 11.7× | -0.2% | +16.6% |
| Rush Street Interactive RSI | United States | $2.83B | -56% | +39% | 11% | 16.9× | 13.5% | +32.4% |
| Caesars Entertainment CZR | United States | $5.96B | +4% | +3% | 17% | n/a | 5.8% | +25.9% |
| Light & Wonder, Inc. Shs Chess Depository Interests Repr 1 Sh LNW.AX | Australia | $6.22B | +1% | 0% | 27% | 9.4× | -8.5% | +15.8% |
| PENN Entertainment PENN | United States | $2.34B | +4% | +6% | 6% | 12.3× | 15.2% | +14.2% |
| Lottomatica LTMC.MI | Italy | $7.17B | +4% | +4% | 21% | 15.4× | -1.4% | +42.7% |
| Kangwonland 035250.KS | South Korea | $2.13B | -16% | +2% | 15% | 11.0× | n/a | n/a |
| MGM Resorts MGM | United States | $8.18B | -17% | +3% | 6% | 24.0× | 16.0% | +27.7% |
| Wynn Resorts WYNN | United States | $8.56B | -19% | +6% | 16% | 20.8× | 1.7% | +27.8% |
| Brightstar Lottery BRSL | United States | $1.82B | -24% | +1% | 25% | 15.2× | n/a | n/a |
| Sands China 1928.HK | Hong Kong | $11.4B | -30% | +9% | 26% | 12.9× | 2.5% | +34.0% |
| Betsson BETS-B.ST | Sweden | $1.34B | +10% | 0% | 14% | 10.4× | -18.0% | +15.7% |
| Flutter Entertainment FLUT | United States | $14.2B | -19% | +12% | 2% | 14.3× | 26.3% | +23.7% |
Entain has 1 bond outstanding with $557M face value. The agencies rate it BB-; its bonds trade like BB. Weighted yield 5.21%, a spread of 218 bp over government bonds.