Entain PLC (LSE:ENT) shares are down by a third this year, with the owner of Ladbrokes, Sportingbet and Foxy Bingo warning last month that online gaming revenue has been softer than expected, hit by adverse sporting results and ongoing regulatory headwinds.
It said it expects its full-year online net gaming revenue (NGR) to be up low double-digit percent, while pro forma NGR rising by a low singlep-digit per cent.
For the third quarter, it guided to online NGR growth in the high single digits but down by a high single-digit percent on a pro forma basis, given adverse sports results in September, safer gambling measures continuing to have an impact and slower growth than expected in Australia and Italy.
Analysts at UBS said they expect the retail betting shop estate to show Q3 growth of 2%.