City Of London
Entain Gains Most Since October After Guidance Eases US Concerns
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Shares in Entain Plc, the gambling company that owns Ladbrokes, rose the most since October after improving its messaging around 2024 guidance, easing concerns that customer-friendly results in the US during the fourth quarter would eat into its bottom line.
Earnings before interest, taxes, depreciation and amortization are expected at the top of a £1.04 billion ($1.3 billion) to £1.09 billion range in 2024, the company said in a statement on Monday. It previously said earnings would be toward the top end of the range. Its US-based joint venture BetMGM also reiterated its guidance, despite unfavorable results in the fourth quarter.