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Comprehension checkEntain’s Business Is on the Mend — The Company Increases the Volume of Net Profit Due to the Online Segment
In 2021, Entain saw a significant increase in revenue and approached pre-crisis levels. This was announced in a press release by the CEO of the organization, Jette Nygaard-Andersen.
“Our totals show once again that Entain is a corporation with growing integrated into its working model. These achievements are supported by the Entain platform which includes the mix of patented technology, fantastic employees, and industry-leading operational potential.”, says Jette.
She also notes that the platform they have is unique and it helps to bring an ever-improving client experience, take into consideration all necessary trends, and to grow into new markets and areas.
According to the report, the brand’s revenue for 2021 was $6.13 billion. This figure is 8% higher than the result in 2020. Gross profit was noted at $3.23 billion, and EBITDA (earnings before expenses and taxes) reached $1.17 billion. These values increased by 6% and 5%, respectively, compared to the previous year. After taxes, Entain’s net income was over $366 million.
In many ways, the company managed to achieve such results due to the growth of the online segment. Net income in this area in 2021 increased by 12%. Retail trade is also gradually returning to pre-crisis levels.
Nygaard-Andersen also says that she wants to thank her colleagues for their enthusiasm, hard work, and professionalism which helped the corporation to get these results.
Entain also stated that BetMGM is going to continue active development in the USA. Now the company ranks second in terms of volume of accepted sports bets and turnover in online casinos. Its share in the fourth quarter of 2021 was 23%.
Recall that Scientific Games Corporation changed its name to Light & Wonder.
