Shop closures drag Entain's overall revenue despite online strength


FILE PHOTO: General view inside a Ladbrokes shop in Harpenden, Britain, March 18, 2020. REUTERS/Peter Cziborra//File Photo

(Reuters) - British gambling group Entain reported a drop in total net gaming revenue for the first quarter on Thursday, as a hit from pandemic-led shop closures outweighed a bump in online betting during coronavirus lockdowns.

The company, which owns the Ladbrokes and Coral brands, said total net gaming revenue fell 13% for the three months ended March 31 even as online revenue leapt by 33%.

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