Formerly GVC Holdings, the FTSE 100 Index firm Entain PLC reports 3.6 Billion Sterling 2020 revenue figures after a year of change, new partnerships, and a pandemic that swept the globe.
Since 2012, when GVC Holdings floated on the London Stock Exchange, its share prices ended the year at £233.50. Fast forward to 2021, and under the new brand name of Entain, the cost of an individual share is £1464. In the space of 9 years, the firm’s stern growth strategy has seen its share levels rise 627%, and the PLC’s revenues match the rise!
In August 2020 GVC Holdings PLC, prior to Entain’s rebranding in September 2020, the firm already reported £1.6 billion in revenue pre-IFRS up to 30 June. Its gross profit at that time was £1 billion.
Awards: In the same year Entain also picked up the EGR Safer Gambling Operator of the year award and the SBC Awards 2020 Socially Responsibly Sportsbook of the year award!
In the space of just 6 months, Entain has increased the numbers by another £2 billion in revenue. Since the report shares rose another £14 (1%), and since the beginning of February share prices have continued to rise from £1431 to the current £1464—a gain of 2.3%. And the shares have risen 3.09% since the turn of 2020.
Price Watch: Entain shares rose 1% since its 2020 revenue report hit business news wires while the share are up over 3% since the turn of 2020!
Expansion of Entain Continuing Via Enlabs iGaming Deal
Currently, Entain is in the process of an attempted acquisition of Enlabs (Entertainment Laboratories) to add to the PLC’s already growing number of verticals and brands. Just recently the company increased its original offer by 32.5% raising the bar to SEK53 per share and are current worth 52.4 SEK!
When Entain made its original offer 6 months prior, share values for Enlabs were valued at SEK39.55. However, the rise in share value has meant a renewed offer is now in place!
How much influence Entain’s interest in the brand has had on Enlabs share prices is a key factor in not over-inflating the offer well over the current share value. Meanwhile, much like Entain, 2020 was a significant year for Enlabs as its entire casino games and betting operation is online. With the global pandemic in place, its sports division suffered, but its iGaming vertical rose sharply, contributing to the firm’s increase in value.
Enlabs recently took a 29.9% holding in Global Gaming 555 in June 2020. In August 2020 it then took over 50% of Global Gaming purchased more shares, bringing its shareholding up to 54% instigating a takeover bid to purchase the remaining shares. The acquisition has also been a contributing factor to Enabs rising share prices, as Global Gaming 555 has seen its shares on the Nasdaq Stockholm Ab almost double in value since the beginning of 2020!