Impressive gains by EVO, L&W, and 888 with +21.92%, +16.60%, and +24.05% since January reported in this iGaming Stocks Update Issue 15 2023! (Image by Pabitra Kaity at Pixabay.com)
As the month of July comes to a close, the iGaming industry companies are preparing Q2 data for release in the coming month(s).
Companies that have weathered the adversities in the market over the last 6 months will be the leaders of iGaming’s future direction.
The industry has suffered a lot of headwinds in the first half of the year – regulation/legal (or lack thereof), inflation, staffing costs, cryptocurrency influence, macroeconomic issues, customer spending, mobile phone private policies, technological advancements, malware, etc., the list is endless.
All these factors will come into play when companies release their financial data. The companies that can address and solve these issues quickly will benefit from investor support and future growth.
This week the report will examine stock movements in the following – Playtech, Entain, 888 Holdings, Evolution Gaming, and Light & Wonder to see where they may be headed in the coming weeks.
Disclaimer: This report is not investment advice. We are simply reporting on the valuations of share prices for gambling entertainment companies we regularly cover in the news here on Livecasinocentral. You can check previous prices starting with Issue 14 – iGaming Stocks Update.
Evolution (EVO) – NASDAQ Stockholm – SEK
After releasing their Q2 financial report on July 7th, Evolution had a good run for the following week, as the stock popped 6%. All the major metrics surged, with a revenue increase of 28.2% (£97m) over the same period last year. The EBITDA rose 30.8% and the profit for Q2 was £227.5m, up from £172.3m in Q2 2022. The sector that contributed the most to boost revenue was its live casino games, which contributed 84% of the total revenues. EVO has been successful in keeping overheads under control, while at the same time investing in growth, new territories, and studios. The share price has lost all its gains since releasing its financial data and is currently at 1,281 SEK.
- Current: 1,281 SEK
- 11 July: 1,331.80 SEK
- 14-Day Gain/Loss: -50.80 SEK (-3.82%)
- 2023 Market Open: 1,050.50 SEK
- Yearly Gain/Loss: +230.50 SEK
- Yearly (%) Movement: +21.92%
Entain PLC (ENT) – London Stock Exchange (LSE) – GBX [British Pence]
Entain has bought a U.S.-based sports modelling company, Angstrom Sports for £122m. This will expand ENT’s footprint in the U.S. and will upgrade the company’s forecasting, data analytics, pricing and risk capabilities. The announcement of the purchase drove the share price up 2.5% but the stock has come off and is currently trading at 1,275 GBX. While a majority of iGaming stocks are in positive territory for 2023, Entain has struggled to recover its losses since achieving a yearly high of 1,596 GBX last February. Perhaps, when it releases Q2 data on August 2nd, investors will get a nice pump in share price.
- Current: 1,275 GBX
- 11 July: 1,213 GBX
- 14-Day Gain/Loss: +62.00 GBX (+5.11%)
- 2023 Market Open: 1,350.50 GBX
- Yearly Gain/Loss: -75.50 GBX
- Yearly (%) Movement: -5.59%
Playtech (PTEC.L) – London Stock Exchange (LSE) – GBX [British Pence]
The iGaming giant, the Playtech software provider, continues to creep up which will keep keen investors content. PTEC is up 4.2% in the last 2 weeks and looks poised to hit new yearly highs if the trend continues. The company’s share price has dropped due to lost acquisitions/partnerships over the past year, but has always bounced back. The resilience of PTEC has kept loyal investors on board and drove the stock price to new highs. Playtech is currently trading at 595 GBX and is seeing resistance at 607 GBX and support at 588 GBX.
- Current: 595 GBX
- 11 July: 611.02 GBX
- 14-Day Gain/Loss: -16.02 GBX (-2.62%)
- 2023 Market Open: 536.00 GBX
- Yearly Gain/Loss: +59.00 GBX
- Yearly (%) Movement: +11.02%
Light & Wonder (LNW) – NASDAQ NYC – USD
Light & Wonder has done conservatively well in this volatile market and is up a respectable 20% since the beginning of the year. The company announced it will release Q2 financial data on August 12th, and market analysts are bullish on LNW, suggesting a price target as high as 81 USD for Q3. The stock hit a yearly/year-to-date high of 71.86 USD July 18th. One reason could be because of the L&W and Authentic Gaming live casino release – 7’s on Fire LIVE Gameshow. The share price has dropped since the announcement, signalling that the bears are preparing for good news… buy low before a big pump in price. The stock has come off 3% since releasing the news and is currently trading at 69.67 USD.
- Current: 69.67 USD
- 11 July: 64.86 USD
- 14-Day Gain/Loss: +4.81 USD (+7.40%)
- 2023 Market Open: 58.12 USD
- Yearly Gain/Loss: +11.55 USD
- Yearly (%) Movement: +16.60%
888 Holdings (888.L) – London Stock Exchange (LSE) – GBX [British Pence]
888 Holdings has had a bumpy ride in the calendar year, but it appears that the company is turning itself around. On July 25th, the company announced that it hired a new CEO to run its operations. The new CEO, Per Widerström (from Fortuna Entertainment) will start October 16th and this announcement spiked the share price up 4%. 888 is up almost 10% since the last report and is up 23% since January. The stock opened up at the time of writing and is trading at 109.2 GBX.
- Current: 109.2 GBX
- 11 July: 97.67 GBX
- 14-Day Gain/Loss: +11.53 GBX (11.81%)
- 2023 Market Open: 88.05 GBX
- Yearly Gain/Loss: +21.15 GBX
- Yearly (%) Movement: +24.05%
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