World Cup boosts profits at gambling giant Entain

Entain, the gambling giant behind Ladbrokes and Coral, has raised its profit forecasts after a boost from the men’s football World Cup.

The company, which also runs bwin and Partypoker, said it had witnessed “record” customer numbers over the final quarter of 2022 as a result. The group hailed the “successful” World Cup but highlighted this was slightly offset by disruption to sports fixtures from cold weather and heavy winds.

Total net gaming revenues increased by 11pc in the quarter to Dec 31, compared with a year earlier.

Entain said earnings before interest and tax for 2022 were now due to be between £985m and £995m for the year. It previously predicted earnings between £925m and £975m.