Are you looking for iGaming company share prices? PTEC is close to red while Entain recovers in the latest iGaming Stocks Update Issue 16 2023! (Image by Pabitra Kaity at Pixabay.com)
This report addresses recent moves in the iGaming business and what factors drive this market transformation.
A common thread is the topic of acquisitions. The market as a whole is very fragmented, and competition is relentless in the gambling entertainment industry.
To compete in the marketplace, companies attempt to make strategic acquisitions to fill a gap in their business plans… to gain a foothold in a specific sector, giving them a brief advantage over their competitors.
Any innovation or technology upgrade can impact these iGaming companies and increase their revenue, so innovative companies are always on the radar to fill these voids. A current trend is the introduction of Augmented Reality and Virtual Reality for online casinos.
The inventive giants are pursuing these iGaming companies to deliver new online life-like experiences to customers, increasing customer base and long-term revenue. The next few years will be exciting as new technology gets released and adapted to the iGaming industry.
This week the report will look at Playtech, Entain, 888 Holdings, Evolution and Light & Wonder and examine what happened in the last couple of weeks and where they may be headed.
Disclaimer: Please do not use this report for investment advice. We are not trading experts and merely follow the price changes every 2 weeks for some of the most well-known iGaming companies. You can check previous prices starting with Issue 15 – iGaming Stocks Update.
Evolution (EVO) – NASDAQ Stockholm – SEK
After releasing positive Q2 financial data last month, the share price of ENT has continued to push down. While most key metrics were up, investors were not impressed with the Random Number Generator (RNG) stats. The company continues to release revolutionary games, most recently Dual Play Roulette which enables players from two different casinos (online & offline) to play on the same table. The cutting-edge technology will undoubtedly have competitors’ attention, but at the moment, this release has not spiked the share price. ENT has been down 2% since the last report and opened down at the time of writing, trading at 1,255.80 SEK.
- Current: 1,255.80 SEK
- 25 July: 1,281 SEK
- 14-Day Gain/Loss: -25.20 SEK (-1.97%)
- 2023 Market Open: 1,050.50 SEK
- Yearly Gain/Loss: +205.30 SEK
- Yearly (%) Movement: +19.49%
Entain PLC (ENT) – London Stock Exchange (LSE) – GBX [British Pence]
The purchase of the forecasting/data analytics firm Angstrom Sports last month has boosted the share price of Entain as it has pushed up 14%. The iGaming stock is maintaining its upward rally and trading at 1,390 GBX. The stock has strong support at 1,350 GBX and resistance at 1,402 GBX. If the share price reaches this resistance level, the secondary level is 1,444 GBX and could rally to new monthly highs.
- Current: 1,390 GBX
- 25 July: 1,275 GBX
- 14-Day Gain/Loss: +115 GBX (+9.02%)
- 2023 Market Open: 1,350.50 GBX
- Yearly Gain/Loss: +39.50 GBX
- Yearly (%) Movement: +2.94%
Playtech (PTEC.L) – London Stock Exchange (LSE) – GBX [British Pence]
The Playtech share price continues to flounder, even after recently releasing strategically popular live casino games in the U.S. Since the last report, the stock has dipped another 5%, and the bears have taken control. Market analysts expect the share price to hit new monthly lows before releasing Q2 financial data in September via the Playtech investor results centre. The stock has continued to drop since hitting a yearly high of 640 GBX last May but has remained in positive territory since January, up 2.25%. PTEC is trading at 548 GBX after pushing through the strong support of 548 GBX, signalling further downward pressure.
- Current: 548.00 GBX
- 25 July: 595.00 GBX
- 14-Day Gain/Loss: -47.00 GBX (-7.90%)
- 2023 Market Open: 536.00 GBX
- Yearly Gain/Loss: +12.00 GBX
- Yearly (%) Movement: +2.24%
Light & Wonder (LNW) – NASDAQ NYC – USD
Light & Wonder continues to outshine its peers with a 2.4% increase in price since the last report. The share price is up 34% in the previous year and 25.5% since January. The leader in gaming machines is represented in over 100 countries by almost all iGaming companies. Recent acquisitions (SciPlay/SG Digital) have expanded their reach into every aspect of the gaming industry, improving their overall growth metrics. Market analysts expect that EPS numbers for Q2 next month will be positive, and investors are expressing their interest as reflected by the share price. LNW is at a yearly high today, trading at USD 71.78 and not far from an all-time high of USD 84.90, achieved in October 2021.
- Current: 71.78 USD
- 25 July: 69.67 USD
- 14-Day Gain/Loss: +2.11 USD (+3.03%)
- 2023 Market Open: 58.12 USD
- Yearly Gain/Loss: +13.66 USD
- Yearly (%) Movement: +23.52%
888 Holdings (888.L) – London Stock Exchange (LSE) – GBX [British Pence]
888 Holdings continues to expand market share in specific regions while shedding underperforming businesses. Last week, a separate but connected entity to 888 Holdings, 888Africa, purchased BetLion in Kenya and Zambia, furthering their strategy of African expansion. A previous BetLion licensing arrangement also aids the transaction in the Democratic Republic of the Congo. The purchase will increase the 888 customer base by another 3 million players. The stock has remained flat since the last report, up only 1%. 888 opened down today and is currently trading at 110.80 GBX, with resistance at 111.30 GBX and support at 109.41 GBX.
- Current: 110.80 GBX
- 25 July: 109.2 GBX
- 14-Day Gain/Loss: +1.60 GBX (+1.46%)
- 2023 Market Open: 88.05 GBX
- Yearly Gain/Loss: +22.75 GBX
- Yearly (%) Movement: +25.81%
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