The latest share prices for 888, Evolution, Playtech, Entain, and L&W. The markets are down but the yearly stats look great! (Image by Pabitra Kaity at Pixabay.com)
The iGaming industry took a bit of a hit on July 5th, as the markets assessed global economic factors and U.S. data. Several negative macroeconomic factors are in play and pulling the market down.
The Chinese economy has not rebounded as much as expected and growth is slow, affecting overseas supply chains. China has also restricted the export of specific metals & chemicals necessary to produce everything from plastics to computers.
The most damaging announcement from the Chinese government is the export controls of gallium and germanium (from August 1st), which are necessary metals necessary for the production of semiconductors and electric vehicles. The export restrictions of these metals will most certainly affect the production and output of U.S. and European companies manufacturing EV’s and computers/phones.
Market analysts in the U.S. expect the Fed to raise interest rates by a quarter percentage point sometime in July, which will most certainly drive the market down. The hike will prop up the U.S. dollar against other currencies but it signals that inflation is still not under control. The rest of this week will be interesting as CPI, Initial Jobless Claims, PPI and the Import Price index results will be released. It will most certainly be a rollercoaster ride in the coming week(s).
This week’s report will examine how Playtech, Entain, 888 Holdings, Evolution and Light & Wonder have faired in the last couple of weeks and where they may be headed.
Disclaimer: We do not offer investment advice. This report is for online gambling expert interested in how iGaming companies are performing financially. For the previous version of this report, please check out the Issue 13 – iGaming Stocks Update.
Evolution (EVO) – NASDAQ Stockholm – SEK
Evolution continues to creep up, when its peers around them are struggling to stay in positive territory. The share price has fallen 1.3% in the last 2 weeks but is rebounding and is currently trading at 1,331.80 SEK. After hitting a yearly high last month, the share price has come off due to external market factors. Market analysts continue to support EVO and are confident that new yearly highs are imminent.
- Current: 1,331.80 SEK
- 4 July: 1,346.40 SEK
- 7-Day Gain/Loss: -14.60 SEK (-1.08%)
- 2023 Market Open: 1,050.50 SEK
- Yearly Gain/Loss: +281.30 SEK
- Yearly (%) Movement: +26.77%
Entain PLC (ENT) – London Stock Exchange (LSE) – GBP
The share price of Entain has not fluctuated much in the last 2 weeks, currently trading at =1,213 GBX. Investors seem to be sitting on their hands as the Turkish bribery scandal plays out in the U.K. and as ENT withdraws from a recent acquisition deal. While the company has expanded in Central Europe, it has recently pulled out of the Sportna Loterija purchase in Slovenia. A major investor in ENT has also voiced its disapproval of the recent purchase of STS, which has seen the stock fall 8% since the acquisition.
- Current: 1,213 GBX
- 4 July: 1,263.50 GBX
- 7-Day Gain/Loss: -50.50 GBX (-4.00%)
- 2023 Market Open: 1,350.50 GBX
- Yearly Gain/Loss: -137.50 GBX
- Yearly (%) Movement: –10.19%
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
- 4 July: 597.91 GBX
- 7-Day Gain/Loss: +13.11 GBX (+2.19%)
- 2023 Market Open: 536.00 GBX
- Yearly Gain/Loss: +75.02 GBX
- Yearly (%) Movement: +14.00%
Light & Wonder (LNW) – NASDAQ NYC – USD
Light & Wonder has done very well in the last calendar year, up 46% and achieving a yearly high of $69.53 USD at the beginning of July. Since January, the share price is up a respectable 11.6% and looks poised to hit new yearly highs in the near future. Although the CFO is scheduled to step down in August, the stock price continues to rise. The company continues to focus on selling off low-performing assets and investing in technology. LNW is opened up today and is currently trading at $64.86 USD.
- Current: 64.86 USD
- 4 July: 68.99 USD
- 7-Day Gain/Loss: -4.13 USD (-5.99%)
- 2023 Market Open: 58.12 USD
- Yearly Gain/Loss: +6.74 USD
- Yearly (%) Movement: +11.60%
888 Holdings (888.L) – London Stock Exchange (LSE) – GBP
Clearly 888 Holdings is on the road to recovery. It has clawed back approximately 40% of its share price in the last 10 months but has faltered in the past month, giving up almost 8.5%. The subsidiary, William Hill, which is the retail arm of the company, has done exceptionally well in the past year. WH is up 53%, but the online and international businesses have dropped 19% and 23% respectively. As the company continues to consolidate its businesses and reduce operational costs, investors are patiently waiting for good news. The share price is opened up yesterday and is currently trading at 97.67 GBX.
- Current: 97.67 GBX
- 4 July: 107 GBX
- 7-Day Gain/Loss: -9.33 GBX (-8.71%)
- 2023 Market Open: 88.05 GBX
- Yearly Gain/Loss: +9.62 GBX
- Yearly (%) Movement: +10.94%
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