Entain, which also owns Coral, said last month that online gaming revenues dipped over the first half of 2022. Two of the UK’s biggest gambling firms are set to disclose the impact of more cautious UK punters, as household spending comes under pressure from turmoil in the economy. Investors of Ladbrokes owner Entain and Paddy Power’s parent firm Flutter will be hoping that profits have been protected despite worries over consumer sentiment, when they deliver half-year updates next week.
Shareholders will also be looking for signs of robustness as the wait continues for the Government to unveil its latest gambling white paper which could impose new restrictions on the sector in the UK. Both firms have however shielded themselves somewhat from the shaky UK market with strong growth in the US, where they have benefited from loosening betting laws in many states. Entain, which also owns Coral, said last month that online gaming revenues dipped over the first half of 2022. Continue reading