Entain Faces £40m Profit Hit from Gambling Regulation, Reviews Brand Portfolio

Entain, owner of Ladbrokes and Coral, anticipates a £40 million reduction in 2024 profits due to new gambling regulations in the UK and the Netherlands, while also initiating a review of its brand assets.

Entain warns of a £40 million impact on its 2024 profits amid stricter gambling regulations in the UK and the Netherlands, leading to a significant review of its brand portfolio.
The company reported a pre-tax loss of £842.6 million for 2023, largely due to a £585 million settlement over a bribery case and impairment charges.
Entain's shares fell more than 5% in early trading following the announcement of the anticipated profit hit and regulatory challenges.
The gambling giant is considering the sale of some of its major betting brands, including potentially Ladbrokes and Coral, as part of its asset review.
Entain's interim CEO, Stella David, emphasizes the company's focus on operational strategy to prioritize organic growth and expand margins despite the challenges.