Welcome to iGaming Stocks Update Issue 10 2023 where we catch up on the last 2 weeks of share prices.
The release of the UK’s Gaming Commission draft white paper a few weeks ago is already changing the future of the UK gaming industry.
It will ensure that land-based gambling will continue to thrive and won’t be stifled by the online market that has boomed since the last Gambling Act of 2005.
The white paper emphasizes that the sector has needed to develop for some time, and, if nothing else, this empowers a list of improvements that many in the business have welcomed. There are viewpoints and opposing opinions to be found on both sides.
In the end, it strengthens player protection, offers restrictions on the use of advertising and what youngsters can and shouldn’t see, maintains the focus on land-based gaming, and gives the Gambling Commission more authority.
Will the changes be effective once put into use?
That won’t be understood until everything is set up and operational for some time, as the next industry appraisal won’t happen for a while.
Disclaimer: For real time iGaming share prices, please check out the graphs on platforms such as Google Finance, Investing.com and/or Yahoo Finance. If you are interested in what happened a fortnight ago, head back to our iGaming Stocks Update Issue 9 2023.
Evolution (EVO) – NASDAQ Stockholm – SEK
Evolution released relatively positive 2023 Q1 data 2 weeks ago and has experienced a meagre 5% increase in share price. While revenue is up 31%, operating profit is up 31% and the EBITDA is up £61m, year on year, the market had a negative reaction to the report – undoubtedly expecting more from EVO. The RNG sector of EVO only delivered a slight increase and is not expected to contribute much to the bottom line in 2023. The share price was trading at 1,361.80 SEK and is currently seeing support at 1,353 SEK and resistance at 1,364 SEK.
- Current: 1,361.80
- 2 May: 1,376.00 SEK
- 14-Day Gain/Loss: –14.20 SEK (-1.03%)
- 2023 Market Open: 1,050.50 SEK
- Yearly Gain/Loss: +311.30 SEK
- Yearly (%) Movement: +29.62%
Entain PLC (ENT) – London Stock Exchange (LSE) – GBP
Entain continues to creep up, clawing back serious losses it suffered back in February and March. ENT hit a yearly high on February 3rd of 1,596 GBX but news of the failed buyout by MGM Resorts caused the stock price to plunge. The stock closed at 1,472.70 GBX and is experiencing resistance at 1492 GBX and support at 1,470 GBX. The company’s Chief Governance Officer will step down from the board after 18 years of service, on June 30th and leave the company on August 31st. The position will be filled by the company’s General Counsel and perhaps open a new chapter on strategic regulation in their current and future markets.
- Current: 1,472.70 GBX
- 2 May: 1,252.53 GBX
- 14-Day Gain/Loss: +220.17 GBX (+17.57%)
- 2023 Market Open: 1,350.50 GBX
- Yearly Gain/Loss: +122.20 GBX
- Yearly (%) Movement: +9.06%
Playtech (PTEC.L) – London Stock Exchange (LSE) – GBP
Two months ago, Playtech posted less than favourable news regarding their FY 2022 with profits down, but revenues up. This has not stopped bullish investors from showing their faith in the company. The stock took a dive on this news but has bounced back significantly and is up 20% since releasing that data. The stock has increased 6% in the last 2 weeks, hitting a yearly high of 620 GBX on May 12. At the time of writing, PTEC closed down at 611.02 GBX but looks poised to hit new highs in the coming weeks, seeing resistance at 614 GBX and support at 609 GBX.
- Current: 611.02 GBX
- 2 May: 520.00 GBX
- 14-Day Gain/Loss: +91.02 GBX
- 2023 Market Open: 536.00 GBX
- Yearly Gain/Loss: +75.02 GBX
- Yearly (%) Movement: +14.01%
Light & Wonder (LNW) – NASDAQ NYC – USD
Light and Wonder is up a respectable 29% over the last year but has dropped since January. The stock is only up 1.5% in the last month and is continuing a sideways pattern with no substantial movements. Several months ago, a report was posted that LNW would propose a second listing on the Australian Security Exchange (ASX). Last week the LNW board of directors approved the 2nd listing, in addition to the existing Nasdaq listing. Australia is a significant market for Light & Wonder, so doing business there will boost profitability and open up long-term investment potential for the company. The stock opened up today and is currently trading at 62.43 USD.
- Current: $ 62.43
- 2 May: $ 60.36
- 14-Day Gain/Loss: +$ 2.07 (+3.43%)
- 2023 Market Open: $ 58.12
- Yearly Gain/Loss: +$ 4.31
- Yearly (%) Movement: +7.42%
888 Holdings (888.L) – London Stock Exchange (LSE) – GBP
888 has come off 57% in the last year but has climbed 36% in the last month, signalling that investors have renewed confidence in the stock and are keen to invest. Several market analysts have raised their price targets, believing that the company’s bad run is over and the future is looking much brighter. 888 did release positive news last month, anticipating higher adjusted core profit for 2023, the probable cause for the increased interest in the company. The stock is currently trading at 80.70 GBX, seeing resistance at 82 GBX and support at 79.55 GBX.
- Current: 80.70 GBX
- 2 May: 52.94 GBX
- 14-Day Gain/Loss: +27.76 GBX (+52.46%)
- 2023 Market Open: 88.05 GBX
- Yearly Gain/Loss: -7.35 GBX
- Yearly (%) Movement: -8.35%
Companies Creating Live Casino games: Find out more about gambling firms listed on global stock markets, take a look at our casino software companies reviews.
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