Entain, the London-listed owner of Ladbrokes, reported a rise in third-quarter net revenue from its US joint venture BetMGM, as strong betting activity surrounding the World Cup and a refreshed sportsbook ahead of the NFL season boosted results. BetMGM, a partnership between Entain and MGM Resorts, recorded net revenues of $710 million for the three months ending in September, up from $667 million in the same period last year.
The increase reflects Entain’s growing presence in the competitive US online gambling market, where operators face significant challenges from prediction market platforms such as Kalshi and rivals like FanDuel, DraftKings, and Fanatics. Following the announcement, Entain’s shares rose 4.7 percent to 448¼ pence, making it the second-largest riser on the FTSE 250 index.
The uplift in Entain’s share price contributed to the FTSE 250 closing marginally higher by 11.13 points, or 0.05 percent, at 24,339.19. Among other notable performers on the index was Rank Group, which increased 4.8 percent to 74 pence. This rise follows investor confidence returning after the company resolved historical compliance issues associated with Grosvenor Casinos, although its shares remain down nearly 24 percent since the start of the year.
In contrast, the FTSE 100 saw a slight decline, ending the day down 5.95 points, or 0.06 percent, at 10,650.33, breaking a brief two-day winning streak. Within the FTSE 100, advertising agency WPP was the top gainer, rising 4.2 percent to 394½ pence. The positive movement was attributed in part to strong sentiment within the advertising sector following French competitor Publicis’s reaffirmation of its full-year outlook.
Melrose Industries also performed well, climbing 3.5 percent to 465½ pence amid developments in legal proceedings connected to an incident at a GKN Aerospace facility in California. GKN Aerospace, a wholly owned subsidiary of Melrose and operator of the Garden Grove plant, reached a $125 million settlement with prosecutors concerning the incident. In May, an overheating chemical tank at the facility led to the evacuation of approximately 50,000 residents in the surrounding area.