Entain Shares Surge 10% on BetMGM Earnings Upgrade

Shares of Entain PLC surged significantly following an upgraded earnings forecast from its US joint venture BetMGM, which reported consistent strong trading with 34% net revenue growth in the first quarter and similar momentum in the second quarter. BetMGM now expects annual revenues of at least $2.6 billion and EBITDA of at least $100 million, up from previous forecasts, reflecting confidence in future growth and a pathway to $500 million EBITDA in coming years. This positive outlook boosted Entain’s shares to new 52-week highs and positioned the stock as the top performer in the FTSE 100 on multiple trading days. The upgrade also underscores the strategic focus of new permanent CEO Stella David to expand Entain's presence in the US online gaming and sports betting markets, as well as emerging markets like Brazil. Despite past legal and regulatory challenges, including a hefty penalty in the UK and allegations in Australia, the company’s improved financial outlook and leadership stability are helping to restore investor confidence. Broader market gains accompanied Entain’s rise, though geopolitical tensions in the Middle East and upcoming central bank meetings remain key concerns for investors.