Entain Looks to World Cup Betting for Revenue Boost
The FIFA World Cup in Qatar is set to kick off in little over a month, and Entain expects good results for its sports betting operations during the tournament. The company is optimistic that the betting odds in world cup 2022 can help the company grow its revenues as well as its market share. This company's latest quarterly update highlighted positive results for its operations, with a ninety percent year-over-year increase in revenue. The company has been growing its revenue in the US, where it has a 25% market share through its joint venture with MGM Resorts International. This has been supported by the start of the US National Football League season. Similarly, its Net Gaming Revenue (NGR) for the third quarter in the US increased 90% year-over-year, while same-state revenue increased by 50%. With this growth, the company is expecting to see even higher revenue growth during the World Cup. Entain expects its revenue in the fourth quarter to increase, as World Cup betting is e...