Entain (ENT) Status update summary

Financial Performance and Outlook

• Q2 net revenue reached $711 million, up 3% year-over-year, with H1 net revenue at $1.4 billion, up 4%.

• Adjusted EBITDA for Q2 was $74 million, totaling $99 million for H1.

• Full-year 2026 net revenue and adjusted EBITDA are expected at $2.9–$3.1 billion and $300–$350 million, respectively, now anticipated toward the lower end of these ranges.

• Ended Q2 with approximately $152 million in unrestricted cash and an undrawn $150 million revolver.

• No excess cash was returned to parents in Q2 due to seasonality, but higher returns are expected in H2.

iGaming and Online Sports Segment Highlights

• iGaming net revenue was $483 million in Q2, up 8% year-over-year, with H1 iGaming revenue at $964 million.

• Online sports net revenue was $228 million in Q2, flat year-over-year; H1 online sports revenue was $431 million.

• Handle per active grew 11% and NGR per active increased 9% year-over-year in Q2.

• Nevada OSB handle increased 10% year-over-year in H1, benefiting from omni-channel strategy.

• New exclusive IP and omni titles, such as Game of Thrones and Elvis Presley, contributed to growth.

Market Share and Competitive Positioning

• Q2 2026 GGR market share was 20% for iGaming, 13% for online sports, and 20% total, nearly double the next competitor.

• Estimated NGR market share in North America was 14% in Q2 2026, ranking third among operators.

• Maintained a podium position with disciplined marketing and higher-value player servicing.