iGaming Stocks Week 11 Report

Catch up with the latest movers & shakers in our iGaming Stock Market Watch (Week 11) covering NASDAQ Stockholm, NASDAQ NY & LSE exchanges. (Photo by geralt on Pixabay)

In our first review of live casino stocks and shares, we are going to look at the performance of such companies over the past two weeks. We are going to be covering 5 of the main players in live casino on a bi-weekly basis, giving you a round-up of how the shares have performed.

The brands you see here are all live casinos covered here on ‘Live Casino Central’ in our Live Casino Software section.

Here is what we have discovered in the past two weeks. If you enjoy playing the live table games, maybe you will also enjoy a bet on their stock market shares, and as such, our stock market expert has come up with a short report for iGaming software provider platforms Playtech, Evolution, and Scientific Games, as well as online casino brands LeoVegas and 888.

Check out the latest below:

Evolution (EVO) NASDAQ Stockholm: This stock took a pretty big tumble in the opening days of March, falling to a price of 902.70 SEK from 1,100.80 SEK at the end of February. Investors should worry not, as this live casino giant is showing decent signs of resilience, and clawed its way back to 1,012.80 SEK on 11/03/2022. This is quite a large move in such a short space of time, so investors might see a dip in price over the next few trading days. Hopefully, for them, this will be just a healthy correction, which could turn into the start of an upward trend. The next few days will be important, and investors will want to see good levels of support building. If nothing else, investors can be content with how stable the Evolution brand is, meaning that it is almost guaranteed to be a growth stock.

LeoVegas (LEO) NASDAQ Stockholm: LeoVegas is one of the most entertaining iGaming stocks around, as you can guarantee that there will be significant movements in short periods of time. LeoVegas finished February with a price of 33.64 SEK, and the Swedish stock has shown positive movements throughout the first 2 weeks of March. After initially dropping to 31.12 SEK, the stock hit a massive level of support, and subsequently, the price rocketed to 35.16 SEK in almost one swift movement. The stock is still significantly undervalued by around 65%, meaning that this could be a buy-and-hold for the long term. On top of it being potentially a healthy growth stock, LeoVegas pays a quarterly dividend of 1.66 SEK, which works out as an annualised yield of 4.72% at the current price – making this stock a double winner.

Playtech (PTEC.L) London Stock Exchange: Playtech can be accused of being one of the most volatile iGaming stocks at this very moment. We can kind of expect this behaviour for as long as the takeover deal hangs in the balance. The stock finished the month of February on a high after it showed good signs of recovery from the hit it took in January following the collapse of the Aristocrat deal. This was mainly due to the interest shown from a Hong-Kong based group that was backed by the Playtech CEO. However, this proved to be not enough, as the stock took an immediate crash the second that the calendar had turned its page to March. The stock plummeted from a price of 664.40 GBX to 561.49 GBX after just the first week–a staggering 15% fall. So, the stock returned to the lows of January, but investors have been given hope as the stock is currently showing strong signs of support, as it ended at a price of 619 GBX at the close of business on 11/03/2022.

Scientific Games (SGMS) NASDAQ NY: SGMS has suffered greatly in March. After bouncing off its support level when it hit 57 USD, the stock rose to 63.50 USD in a bullish 2 days, but the bounce was swiftly followed by a nosedive, as SGMS dropped to 52.85 USD just a few days later.  SGMS is currently on a 5-month downward trend, with it failing to break through important levels of resistance along the way. We can’t really see that trend changing anytime soon, and many investors are reported to have already sold their stock. SGMS finished at a price of 58.94 USD as the business closed on Friday the 11th of March.

888 Holdings (888.L) London Stock Exchange: You’ll have heard of 888 because we have the famous 888 live casino already reviewed. 888 Holdings has gone through a pretty torrid time of late, with the stock finishing in February at a price of 240.38 GBX. If you thought that things couldn’t get any worse, well, then you would have been wrong. The Russia- Ukraine war has not helped this stock, but in truth, it has been on a downward spiral since September 2021. The stock continued on its path of devastation to hit a price of 186.13 GBX on the 10th of March, which is the lowest it has been for 18 months. Just a few days ago, 888 Holdings launched its ‘Made to Play’ strategy, which could perhaps be the lifeline that this stock needs. We will see over the next few weeks what will happen, and we will no doubt be covering it in our next live casino shares report.

Stay tuned for more: Next Monday we will cover the current progressive jackpots available across the live casino sphere. This will include a look at the Age of the Gods Bonus Roulette title to see how high the Age of the Gods jackpot has reached, while we will also look at Evolution Gaming’s progressive jackpot poker titles so we can keep tabs on just when these live table game jackpots might drop!

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