Saturday, December 2, 2023

Entain reaffirms commitment to sustainable markets on ESG report; 99% revenues in 2021 from regulated jurisdictions | Yogonet International

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Global sports betting and gaming group Entain shared Wednesday its 2021-22 ESG report, setting out the Group’s approach to, and performance on, sustainability and Environmental, Social, and Governance (ESG)-related matters. 

The report digs into the significant progress Entain has made in implementing the objectives of its Sustainability Charter built around four core principles: an exclusive focus on regulated markets; responsible betting and gaming; corporate governance; and investing in local communities. It also provides a further update on the concepts introduced at Entain:Sustain in November 2021, which the company describes as the industry’s first sustainability and ESG-focused event. 

The report elaborates on the company’s focus on regulated markets, and points out that 99% of group revenues came from domestically regulated and regulating markets in 2021, with the number of these jurisdictions increasing up to 31. In the meantime, the group exited ten markets as it did not see a pathway to sustainable regulation through Q1 2022. 

The company also stated that it is now the second-biggest operator in North America, with BetMGM -its joint venture with heavyweight MGM– having achieved a 23% market share in the markets in which it operates in the fourth quarter, in line with its long-term objective of 20% to 25%.

Operating only in domestically regulated markets allows us to deliver higher quality of earnings and ensure we can continue to grow into the future. In these markets, we can engage openly and proactively with regulators to ensure we can offer first-class player protection through our cutting-edge technology and product platform, while upholding all licensing objectives, across multiple jurisdictions. It is the Group’s aim that by the end of 2023 we will only generate revenues from countries where we hold a domestic license,” the company expressed in its report.

As a result of efforts to take the lead on safer betting and gaming, the company was awarded the Advanced Safer Gambling Standard by GamCare, the UK safer betting and gaming charity. It has also rolled out its ARC player protection program across all UK online products, and has increased UK contributions of RET to 0,5% of GGY.  

Entain also underscored that, pursuant to introducing the highest standards of corporate governance, it has implemented safer betting and gaming metrics into the 2022 Group Bonus scheme, with customer satisfaction metrics added for 2022 scheme. Comprehensive independent third-party review governance policies and procedures are completed under review. 

When it comes to its investment in its communities, the company detailed in the report the perks of the launch of EnTrain, a multi-million dollar diversity and inclusion project that aims to reach 1 million people by 2030, providing access to technology and changing the diversity within technology. 

The company also reported it has reached the first position in the All-in Diversity index: “We are partnering with Global Gaming Women and the All-In Diversity Project to create ‘Lean In’ circles across Entain and connect our women across the globe with each other and other women within the broader technology and entertainment sectors,” Entain explained

The business has also achieved a 7% reduction in absolute GHG emissions from 2020 with 100% renewable energy in the UK and ROI retail estates, and has committed to a net-zero carbon emissions target by 2035, which will be verified by the SBTi.

In an official statement, Jette Nygaard-Andersen, who was appointed as CEO in 2021, becoming the first female CEO of a UK-listed betting and gaming company, said: “Over the past year we have continued to make great progress in all areas of ESG, which is fully-embedded throughout all of our operations.”

We are committed to providing the safest possible betting and gaming platform, taking a leading role in supporting the communities in which we operate, reducing or environmental impact and in doing so, making Entain the best place to work for all of our people,” she added. “By delivering on this ambition, we will create long-term, sustainable growth for all of our stakeholders.”


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