Ladbrokes owner Entain beats expectations after World Cup boost

Entain, owner of Ladbrokes, reported stronger-than-expected results for the past six months, helped by World Cup demand. Net gaming revenue rose 5% for the six months to June 30 year-on-year, ahead of expectations, supported by a 7% increase in online revenue. Results were particularly strong in the UK and Australia, with UK and Ireland revenue up 8%; 13% online growth helped offset the effect of high-street shop closures. Earlier this year, Entain closed 45 stores in the Republic of Ireland and Northern Ireland. Underlying earnings were £479 million, down 2% but above forecasts.