British gambling firm Entain is betting on the soccer World Cup starting next month will help improve its fourth-quarter online gaming revenue.
It said today that its total gaming revenue rose marginally in the third quarter.
The London-listed firm owns Ladbrokes and Coral betting shops as well as bwin and partypoker online brands.
It said today its total gaming revenue rose 2% in the third quarter, but was unchanged on a constant-currency basis.
Gambling firms, which are seeing more punters returning to retail shops and witnessing a drop in online gaming from Covid peaks, are now staring at challenges from a cost-of-living crisis as customers seek to cut non-essential spending.
Entain's smaller rival Rank Group has also warned of continued pressure on consumer's discretionary spends amid rising inflation. It today reported a 2% rise in its like-for-like net gaming revenue for the first quarter.
Entain said BetMGM, its US joint venture with MGM Resorts, continued to perform strongly, thanks to the start of the National Football League season in the US.
Previously known as GVC Holdings, Entain's total online gaming revenue declined by 2% on a constant currency basis for the three-month period ended September 30.
