Entain to keep brand portfolio and core strengths, and North America focus, following review

Entain to keep brand portfolio and core strengths, and North America focus, following review

Article brief provided by SBC News
  • Ted Menmuir, SBC News
May 21, 2024 7:22 PM
  • Ted Menmuir, SBC News
  • Europe
  • United States
  • United Kingdom

Entain Plc has announced that the Capital Allocation Committee (CAC) has concluded the strategic review of the FTSE gambling group’s operating structures, global portfolio of brands, and funding.

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Entain’s board appointed the Committee in January to undertake its review “with the objective of maximising shareholder value and reflecting the operational progress of the business,” as full-year 2023 results declared corporate losses totalling £900m [$1.1b].

The Committee’s strategic review concluded that“Entain has the appropriate portfolio of diversified strategic assets, brands, capabilities, and geographic footprint to ensure it is well positioned to deliver high-quality long-term growth.”

As such, the board of Entain is advised to continue to prioritise North American growth, which carries a ‘significant upside’ by focusing on organic growth of the BetMGM brand and enlarging its operating margins.