a person in a white suit with a bunch of hot air balloons in the air

We are Entain, like our customers, we get excited about the world of sport, gaming and interactive entertainment. Whether it’s watching your favourite team, beating your mates or experiencing the next big thing, we love exciting moments.

Sustainability is at the heart of our business. We operate exclusively in regulated and regulating markets. We make sure our products are safe by leveraging our technology to protect players.

During the year we continued to deliver on our strategy of providing our customers with fantastic products, engaging content and exciting experiences. We do this while ensuring they play safely with us at all times.

It’s your game.

Our investment case

A significant global opportunity

Entain is operating in a growth market

Attractive Global Industry dynamics underpin large and expanding market

Evolving customer needs growing existing and new markets

Trebling of Total Addressable Market

Superior financial delivery

Cash generated used to maximum effect

Disciplined Capital Allocation

Profitable with Group EBITDA >20%

Strong Cash Generation

Strong and Flexible Balance Sheet

An unrivalled platform of excellence

Leadership in sustainability supports higher quality returns

Unrivalled diversification - geographic, product, customer base

100% regulated or regulating market exposure

Industry leading comprehensive ESG strategy

Leadership of responsible engagement and player protection

Deliver superior growth

Leveraging scale advantages to drive superior growth

Entain Platform leverages scale advantages:
– Largest industry technology platform driving synergies
– In-house expertise and capabilities supporting growth

Scaled capabilities support deeper and broader customer engagement

Strong track record of superior market growth

Compelling M&A enhances market growth, diversification and scale

Investment Case

Key Statements

A differentiated leader in a global growth industry

2022 was another year of strong financial, operational and strategic progress for the Group.”
Jette Nygaard-Andersen
Chief Executive Officer
Read CEO statement
Jette Nygaard-Andersen
Barry Gibson
The progress that has been made in the last three years has been structural, tangible and demonstrable.”
Barry Gibson
Non-Executive Chairman
Read Chairman’s statement
Rob Wood
The Group delivered strong year on year growth in NGR and EBITDA.”
Rob Wood
Chief Financial Officer
Read CFO statement

Financial Highlights

Group Revenue

+10% (constant currency)
2021: £3.9bn

Online Net Gaming Revenue

-2% (constant currency1)
2021: £3.1bn

BetMGM Net Gaming Revenue

2021: $850m

Group Underlying EBITDA

2021: £881.7m

Online Underlying EBITDA

2021: £899.0m

Retail Underlying EBITDA

2021: £66.9m

Underlying Operating Profit

2021: £484.1m

Continuing Adjusted Diluted EPS ex. US

2021: 81.9p

Growth in Actives


1. Growth on a constant currency basis is calculated by translating both current and prior year performance at the 2022 exchange rates.

Jamie Lee Foxx

Our Strategy

Focused on growth and sustainability

We are focused on a range of exciting growth opportunities that will significantly increase the value of the Group. We believe the most sustainable business will be the most successful business.


The world leader in betting, gaming and interactive entertainment


Bring moments of excitement into people’s lives



Leadership in the US

Grow presence in existing markets

Expand into new regulated markets

Extend into interactive entertainment



Lead on responsibility

Diversify our regulated activities

Broaden our customer appeal

Invest in our people and communities

Strategy in Action

Our success is built on the unique Entain Platform, which puts the customer front and centre, to deliver our core strategic goals of growth and sustainability.

We are constantly working to provide a richer and more engaging experience for our customers, both existing and new. At the product level this means a continuous process of optimising our sites, apps and games to create the smoothest, most enjoyable experience.

We are using our customer insight to do more – more betting and gaming content; more interactive entertainment; more video and audio content; and more social integrations. But what does that all mean in practice?

four people flying in a wing suit
Exciting moments
a person in a garment walking down a street with people in the background
Worldclass moments
a person sitting on a couch and smiling at the camera
Responsible moments
a football pitch
Positive moments


Entain’s purpose is to bring moments of excitement into people’s lives. Over the year the Board sought to promote our purpose and strategy and made decisions in the interests of all stakeholders, having considered the matters set out in s172 of the Companies Act 2006 (UK).

Entain’s approach to corporate governance

The Board is focused on promoting the Company’s purpose and strategy, delivering sustainability and growth whilst putting stakeholders at the centre of decision-making.

Corporate Governance Report
The Board and Stakeholder Considerations
Board Diversity Policy

Entain’s governance framework

Our governance framework is designed to help us fulfil our purpose and strategy. The Board governs through this framework and the schedule of matters on which decision-making is reserved to itself. The Board structures its activities around the key pillars of strategy, performance and governance.

Entain’s Governance Framework
Roles and Responsibilities of the Entain Board
Board Activities

Code of Conduct and our approach to ESG

Entain’s Code of Conduct sets out the standards, principles and policies that underpin Entain and what we expect from everyone who works for us or does business with us.

Code of Conduct
ESG Report
ESG Reports and Policy Statements
Entain’s Sustainability Charter
Annual report 2022
Strategic report
Governance report
Financial statements
the cover of the annual report