The gambling giant behind Ladbrokes and Coral soared during the pandemic as lockdowns fuelled online business.
Entain sales and profits are booming, and last month it said it will pay back about £44m that it claimed in Government support.
Shares hit a record high in September after an approach from US rival Draftkings, which it rejected. But they have fallen back sharply since, and investors will be hoping for a lift from its first-quarter trading statement on Thursday, looking to see how its 2,500 shops have fared since reopening.
Cheltenham Festival takings will be in focus, as will its US business, Bet MGM.
Entain’s 2021 gaming revenue rose 7 per cent to £3.9billion, while pretax profit more than doubled to £393.2m. Betting in stores is at 90 per cent of pre-Covid levels. Shares were 1652p yesterday.
Hargreaves Lansdown equity analyst Matt Britzman said: ‘Online growth is expected to slow from the double-digit highs seen at the full-year.
‘What’s key is how much online demand remains sticky. Customers returning to betting shops isn’t all bad.
‘But the online offering is more profitable and, from a margin standpoint, the more demand that can remain online, the better.
‘News relating to Bet MGM, the group’s growth jewel and joint venture with MGM in the US, will be watched with eager anticipation. Growth has been nothing shy of exceptional, as expansion in the growing US markets brings the business ever closer to profitability.’
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