The owner of Ladbrokes will pay out £100million to investors this year despite worries about a rise in problem gambling amid the cost-of-living squeeze.
Entain, which also owns Coral and Foxy Bingo, unveiled the mammoth sum after reporting half-year profits of £246.5million, up 20 per cent year-on-year, while revenues grew 18 per cent to £2.1billion.
It is the first since the onset of Covid-19 that the gambling group has paid a dividend.
Dividend boom: Entain, led by chief exec Jette Nygaard-Andersen (pictured), unveiled the mammoth sum after reporting half-year profits of £246.5m, up 20% year-on-year
The figures were boosted by the company’s bookmakers and betting machines, which performed strongly as punters flooded back into betting shops following the end of lockdown restrictions.
The trend had helped to offset a 7 per cent decline in revenues from online gambling as people spent less time at home than the previous year.
Chief executive Jette Nygaard-Andersen said: ‘I am delighted that more customers are choosing to play with us as we focus on providing them with even better product
