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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 33,399 · FY2024 23,375 — 3-yr total 56,774
Entain Georgia LLC is the local operating company of Crystalbet, the leading gaming and betting brand in Georgia, owned by LSE-listed Entain plc (acquired in two steps in 2018 and 2021). Entain recently flagged Crystalbet as 'non-core' and earmarked for sale.
igamingbusiness.comproactiveinvestors.co.uk
Group parent — controls 1 company · ownership
| Ratio | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Margins | ||||
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% |
| EBITDA Margin | 49.9% | 43.9% | 45.9% | 41.0% |
| EBITDAR | 226,334 | 183,036 | 205,859 | 206,843 |
| EBITDAR Margin | 49.9% | 43.9% | 45.9% | 41.0% |
| EBIT Margin | 49.3% | 43.3% | 44.7% | 40.4% |
| Net Profit Margin | 37.8% | 25.8% | 29.9% | 30.2% |
| Operating Expense % of Sales | 50.2% | 56.2% | 54.2% | 59.1% |
| Returns | ||||
| Return on Assets (ROA) | 181.3% | 122.3% | 243.5% | 241.1% |
| Return on Equity (ROE) | N/A | N/A | N/A | N/A |
| ROIC [EBIT / Invested Capital] | N/A | N/A | 2311.7% | N/A |
| Leverage & debt balances | ||||
| Debt-to-Assets | 744.0% | 715.6% | 897.4% | 577.4% |
| Debt-to-Equity | -1.09x | -1.12x | -1.07x | -1.09x |
| Debt-to-EBITDA | 3.11x | 3.44x | 2.40x | 1.76x |
| Equity-to-Assets | -679.9% | -640.1% | -838.1% | -528.0% |
| Net Debt | 632,536 | 562,463 | 470,520 | 331,378 |
| Cash & Equivalents | 70,901 | 66,416 | 24,024 | 32,892 |
| Total Debt | 703,437 | 628,879 | 494,544 | 364,270 |
| Liquidity & working capital | ||||
| Current Ratio | 0.12x | 0.13x | 0.10x | 0.14x |
| Quick Ratio | 0.12x | 0.13x | 0.10x | 0.14x |
| Cash Ratio | 0.10x | 0.10x | 0.05x | 0.08x |
| Total Current Assets | 87,369 | 82,545 | 49,586 | 53,466 |
| Total Current Liabilities | 736,609 | 650,325 | 515,885 | 395,272 |
| Inventory | 79 | 28 | 191 | 20 |
| Trade Receivables | 5,828 | 7,634 | 10,446 | 10,484 |
| Trade Payables | 11,628 | 12,515 | 11,889 | 15,648 |
| Net Working Capital | -649,240 | -567,780 | -466,299 | -341,806 |
| Net Working Capital % of Revenue | -143.1% | -136.3% | -103.9% | -67.7% |
| Trade Working Capital | -5,721 | -4,853 | -1,252 | -5,144 |
| Trade Working Capital % of Revenue | -1.3% | -1.2% | -0.3% | -1.0% |
| Change in Trade Working Capital | N/A | 868 | 3,601 | -3,892 |
| Turnover & efficiency | ||||
| Inventory Turnover | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A | N/A |
| Receivables Turnover | 77.82x | 54.56x | 42.94x | 48.12x |
| Days Sales Outstanding (DSO) | 4.7 | 6.7 | 8.5 | 7.6 |
| Payables Turnover | N/A | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | N/A | N/A | N/A | N/A |
| Cash Conversion Cycle | 4.7 days | 6.7 days | 8.5 days | 7.6 days |
| Asset Turnover | 4.80x | 4.74x | 8.14x | 8.00x |
| Cash flow & dividends | ||||
| Operating Cash Flow | 180,478 | 91,788 | 122,491 | 166,698 |
| Free Cash Flow (OCF − Capex proxy) | 185,387 | 96,854 | 126,156 | 162,846 |
| Cash Conversion (OCF / EBITDA) | 79.7% | 50.1% | 59.5% | 80.6% |
| Dividends Declared | N/A | 0 | 33,399 | 23,375 |
| Dividend Payout Ratio | N/A | 0.0% | 24.9% | 15.4% |
Money rows — EBITDAR, net debt, cash, total debt, operating and free cash flow, dividends declared — are in GEL, thousands. Margins, returns and payout are percentages; turnover and leverage are multiples; DIO/DSO/DPO are days. Hover a metric name for its definition.
Shareholders, directors and group links from the companyinfo.ge public register — as filed, so stakes need not sum to 100% where a holding is undisclosed.
Ownership & directors from companyinfo.ge (public corporate registry).
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