Entain, the owner of Ladbrokes and Coral, delivered stronger-than-expected first-half results as the World Cup drove a surge in betting activity and helped the gambling group absorb sharply higher UK taxes.
Net gaming revenue increased 5 per cent in the six months to June 30, ahead of market expectations.
The performance was underpinned by a particularly strong showing in Britain, where gaming revenue rose 13 per cent and sports betting revenue climbed 11 per cent.
The expanded World Cup, which began in June, provided a significant boost to Entain’s sportsbook. The tournament attracted new customers and encouraged existing players to increase their use of products including BetBuilder accumulators.
Underlying earnings nevertheless fell 2 per cent year on year to £479mn, highlighting the pressure facing the group as governments tighten regulation and taxation across the gambling industry.
In Britain, Entain is having to absorb a substantial increase in remote gaming duty. The tax rate rose from 21 per cent to 40 per cent at the beginning of April, while a new rate of general betting duty is due to be introduced next year.
The company has also been reshaping its retail estate, closing 45 shops across the Republic of Ireland and Northern Ireland earlier this year.
Despite the pressures, Entain said its UK operation had maintained “impressive” momentum, with customer volumes and engagement continuing to strengthen.
Stella David, chief executive, said the group had made a strong start to 2026, pointing to sustained volume growth and customer engagement throughout the World Cup.
The results offer a measure of reassurance to investors seeking evidence that Entain can continue to grow while absorbing higher regulatory costs. The key test will be whether the company can maintain its momentum after the temporary boost from football’s biggest tournament fades.
David said Entain’s focus on growth and operational efficiency would support future cash generation and leave the group well positioned for long-term growth.
For now, the figures suggest the World Cup has provided a timely windfall — but the rising cost of operating in Britain remains a significant drag on the gambling group’s earnings outlook.
Leave a Comment