Entain gains profit from Online Gaming

Online gaming was the key factor behind a profit at gambling company Entain. The company owns Ladbrokes, Foxy Bingo, and Party Poker.

The business saw a profit of £530m in 2020. Last year the profit was on £521m. Eight Nine percent of the gain came from its online presence. Net income before taxes grew 11 percent at the business last year to £843.1m.

Online net gaming income stood at £2.7bn. Three-quarters (75%) of the betting business now operates online.

Entain non-executive Chairman Barry Gibson said: “It is significant evidence to the quality of our people. It represents the strength of our business model. The group’s growth continued during 2020. Despite, the Covid-19-related cancelations and retail closures.

“We have talked about having various business models. We cannot depend on one product, brand, territory, or channel. It was this approach that eased the effects of the pandemic on our business so effectively.”