StockMarketWire.com - Sports-betting and gaming entertainment Entain reported a rise in Q4 net gaming revenue as strong online revenue helped offset the impact on retail performance as it shuttered its shops amid government-enforced restrictions.

The company also reported that Jette Nygaard-Andersen was appointed chief executive officer.

For the three months to 31 December 2020, net gaming revenue increased 7%, with online online growth up 41%, while retail in the UK and Europe was down 38% and 57% respectively.

For the year net gaming revenue was flat year-on-year, with online growth up 27%.

Full year 2020 earnings before interest taxes, depreciation, amortisation, or EBITDA, was expected to be in the range of £825 million-to-£845 million, as announced on 7 January 2020, the company said.

'We have entered 2021 with good momentum, particularly in our growth areas of the US and core markets. While the short-term outlook remains uncertain as a result of the ongoing impacts of COVID-19, the underlying strength of our business means that we remain as confident as ever in Entain's longer term prospects,' the company said.






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