Australia powers Entain H1 growth as David and Snape double down on CEE exit

Entain’s Australian business was highlighted as a standout growth driver during the operator’s H1 earnings call on Thursday, as online revenue for the region ticked up 13% year-on-year on a constant currency basis.

Its New Zealand revenue was also up 21% in H1.

Entain CEO Stella David and new CFO Michael Snape said the operator had experienced market share gains in Australia due to a number of measures taken across the business, including enhancing its bet builder offering and native apps.

It launched its sports-first digital Betcha brand in New Zealand in August 2024 to complement its TAB racing betting partnership in the region.

A new Australia and NZ CEO was appointed to the company in August 2025, with Andrew Vouris bringing 17 years of local gambling sector experience to the firm.

David told analysts on Thursday: “If you take Australia, we’re in healthy, double-digit growth because of changes that we’ve made to the way that we operate. So we think that is sustainable based on good inputs, focusing on more broad sports, a less exclusive focus on racing, for example, streamlining the way that we operate, focusing in on the things that really move the dial.

“Long term I think Austria is an opportunity for us because we’ve been playing there all the way through.”

On New Zealand the CEO once again highlighted the opportunity ahead as the market prepares to liberalise iGaming by 2027.

“If you go to New Zealand, which is in double-digit growth at the moment, it’s very exciting that we’re going to get the casino regulations start at the beginning of 2027, which is a new opportunity for us.”

Entain previously said it would target three online licences in New Zealand, including its TAB racing monopoly. The market will have a limit of 15 licences total, with Betway’s Super Group also eyeing three.

Spain NGR also growing

Overall, Entain’s international business saw net gaming revenue (NGR) up 7% in H1, on the previous year.

Elsewhere, the senior executives also highlighted Spain as a stand-out player during the six-month period, citing the turnaround of its Bwin brand, with NGR up 28% in H1.

“We’re in great growth in Spain. We have great momentum there. We’ve got a great brand with Bwin. And so we think that the inputs are gonna continue to generate market share growth,” David said.

She said it had improved its brand presence in the market by a multiple of four, as well as doubled player acquisition and gained market share with double-digit revenue growth. 

Neither seemed concerned by the incoming cross-operator player limits which will come into play in Spain next year.

Backing its CEE exit

Snape and David doubled down on their decision to exit Entain’s CEE business, which it announced in June. The move is expected to de-lever, unlock and return capital to shareholders, Snape said.

Future proceeds from Entain’s full exit of Entain CEE will be used to reduce group reported leverage below 3x, with excess capital returned to shareholders, the company said.

“There’s no fire sale taking place here,” said David. “We have really good value businesses that we continue to invest and grow. But the CEE feel is a good example of adding value.”

“We’re very firmly focused on shareholder value and unlocking value from the portfolio,” added Snape.

Industry commentators told iGB in July that Entain’s pre-existing deal structure with EMMA made it possible to move fast on the divestiture. They also suggested that Poland’s iGaming monopoly position and recent tax hikes have made the market less desirable.

In H1, CEE NGR grew 2%, before being discontinued in June. When looking at each channel, online in CEE grew 7%, while retail was down 22%.