Ladbrokes owner Entain buys into Europe as gambling pays dividends

Ladbrokes owner Entain buys into Europe as gambling pays dividends

Article brief provided by Reuters
  • Radhika Anilkumar, Reuters
August 11, 2022 6:07 PM
  • Radhika Anilkumar, Reuters

    British betting group Entain (ENT.L) said it would buy Croatia’s SuperSport Group for 600 million pounds ($731 million) in cash on Thursday after the owner of Ladbrokes, Coral and bwin reported a 20% increase in half-year profit.

    Although Entain’s online net gaming revenue fell 7% in the six months to June 30, shares in the FTSE 100 firm were nearly 3% higher at 0751 GMT as it resumed dividends, saying it would pay out 100 million pounds in total for the year.

    Gambling firms which gained during the COVID-19 pandemic as punters went online now face pressure as some customers reduce non-essential spending due to rising fuel and food costs.