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Entain Plc (GMVHY) Q3 2026 Sales/Trading Call Transcript
Entain PLC (LSE:ENT) reiterated its 2026 guidance after third-quarter net gaming revenue rose 2%, with strong growth in the UK and Ireland helping offset weakness in Brazil and customer-friendly sports results. The FTSE-listed betting and gaming group said online net gaming revenue increased 3% during the quarter, rising 5% when Brazil was excluded, while gaming revenue grew 8%.
Entain PLC's (LSE:ENT) 'buy' rating and an 872p price target have been reiterated by Deutsche Bank, following an encouraging BetMGM third-quarter update showing stronger growth despite fewer active customers. The Entain-MGM joint venture reported revenue of $710 million, up 7% against 3% growth in the second quarter, exceeding Deutsche Bank's $700 million estimate.
BetMGM said its third-quarter performance kept the sports betting and iGaming operator on track to meet its full-year 2026 financial targets, citing a strong summer, solid early-season football engagement and continued emphasis on higher-value customers.
Entain PLC (LSE:ENT), the Ladbrokes owner, has suffered an unjustified 45% share price decline this year despite improving fundamentals, JP Morgan said as it reiterated its 'overweight' rating. The bank expects robust UK online momentum and a stabilising position in the US to support the gambling group, while Brazil's move towards a full gambling ban represents a manageable headwind.
Deutsche Bank has cut its price targets for Entain PLC (LSE:ENT) and Flutter Entertainment PLC (LSE:FLTR, NYSE:FLUT) due to Brazil's decision to ban online betting and gaming, although the bank argues that this measure may not become permanent. Entain, the betting and gaming group, saw its target reduced to 872p from 914p, although DB analyst Richard Stuber retained a 'buy' rating.
UK-listed shares Entain PLC (LSE:ENT), British American Tobacco PLC (LSE:BATS), ICG PLC (LSE:ICG) and Coca-Cola HBC AG (LSE:CCH) feature among Deutsche Bank's preferred European stocks for the fourth quarter. The broker highlighted catalysts ranging from online gaming growth and buybacks to cash generation and emerging-market consumer demand.
Entain PLC (LSE:ENT), the sports betting and gaming company, cut its 2026 online net gaming revenue growth forecast to 4% to 6% after Brazil moved to ban online gambling, while maintaining its £910 million to £960 million underlying EBITDA guidance. Jefferies said the ban effectively shuts Brazil's online market, with initial share-price reactions likely to precede a review of individual company exposures.
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