Yearly stock price movements since the 2023 market open show ENT (-37.50%), EVO (+2.71%), PTEC (-20.52%), L&W (+49.63%), and 888 (-8.06%). (Image by Pabitra Kaity at Pixabay.com)
The landscape of online gambling has changed dramatically over the years, with the popularity of cryptocurrency casinos emerging as one of the newest trends.
Nowadays, a lot of people want top casinos that accept cryptocurrencies. The distinct benefits these cutting-edge platforms provide have made them popular with gamblers. In this bi-monthly post, we’ll examine the reasons behind the rise in popularity of cryptocurrency casinos and the main drivers of their development.
The increased security and anonymity that cryptocurrency casinos provide to their users is one of the main factors contributing to their popularity. Players at traditional online casinos must submit personal data, including their name, address, and banking information. However, players can maintain anonymity and conduct transactions with their cryptocurrency wallets without disclosing who they are while playing at crypto casinos.
Because cryptocurrencies are decentralised, this anonymity is made possible. The blockchain, a distributed public ledger that securely and openly records all transactions, is where cryptocurrency transactions are handled. This lowers the possibility of fraud and identity theft because players can now make deposits and withdrawals without using middlemen like banks.
Additionally, cutting-edge encryption technologies are used by crypto casinos to safeguard player data and secure their platforms. These technologies include two-factor authentication (2FA) and SSL encryption, which encrypts all data transferred between the player’s device and the casino’s server. By requiring an additional verification step, 2FA gives the player’s account an additional layer of security.
The two main elements of crypto casinos are improved security and anonymity. These factors have contributed to the growth in the popularity of cryptocurrency casinos. These benefits have proven popular with gamers looking for a safer, more equitable, thrilling gaming experience. The popularity of cryptocurrency casinos is expected to grow as cryptocurrencies are accepted and widely used.
This week, we will look at the price movements of Playtech, Entain, 888 Holdings, Evolution and Light & Wonder for the last two weeks and see where they are headed into December
The two main elements of crypto casinos are improved security and anonymity. These factors have contributed to the growth in the popularity of cryptocurrency casinos. These benefits have proven popular with gamers looking for a safer, more equitable, thrilling gaming experience. The popularity of cryptocurrency casinos is expected to grow as cryptocurrencies are accepted and widely used.
This week, we will look at the price movements of Playtech, Entain, 888 Holdings, Evolution and Light & Wonder for the last two weeks and see where they are headed into December
Disclaimer: For specialist advice on crypto investment please visit a portal similar to Livecasinocentral, but one that focuses on giving you professional advice regarding cryptocurrency and/or stocks investments. Also, for our previous gambling company share price update, please see Issue 23 – iGaming Stocks Update.
Evolution (EVO) – NASDAQ Stockholm – SEK
Evolution has been in an incremental decline since January but has only suffered a 23% drop. The company is at a similar level to a year ago. The stock is trading at 1,079 SEK and has been flat since the report two weeks ago. EVO authorised a share buyback program on November 24th to improve the company’s capital structure by reducing debt and, therefore, creating added shareholder value. The next month should be interesting as the share price should bounce.
- Current: 1,079 SE
- 14 November: 1,026 SEK
- 14-Day Gain/Loss: +53 SEK (+5.17%)
- 2023 Market Open: 1,050.50 SEK
- Yearly Gain/Loss: +28.50 SEK
- Yearly (%) Movement: +2.71%
Entain PLC (ENT) – London Stock Exchange (LSE) – GBX [British Pence]
Entain has been in a downward spiral for the last year. There has been a steep sell-off in the past few months as the company battles internal issues. Last week, the company settled with the Royal Courts of Justice over the Turkish bribery case from 2019, which also will affect the share price. ENT will pay a financial penalty of £585.0m, make a charitable donation of £20m and pay HMRC and CPS costs of £10m. The share price is currently trading at 844 GBX after touching a low of 815 GBX a few days ago
- Current: 844 GBX
- 14 November: 892.40 GBX
- 14-Day Gain/Loss: -48.40 GBX (-5.42%)
- 2023 Market Open: 1,350.50 GBX
- Yearly Gain/Loss: -506.50 GBX
- Yearly (%) Movement: -37.50%
Playtech (PTEC.L) – London Stock Exchange (LSE) – GBX [British Pence]
Playtech has rebounded in the last month after posting a mixed Q3, battling legal action in Mexico by Caliplay and losing a possible acquisition in Italy. PTEC is up 9% since October but has been flat for the last two weeks. Insiders have bought up shares recently, perhaps signaling that the bear run is over and the stock has bottomed out. The CEO and other insiders have purchased over 64K shares of PTEC at higher than market prices, which reflects positively on other shareholders. The company stock price is currently trading at 426 GBX with strong resistance at 436 GBX and support and weak support at 420 GBX.
- Current: 426 GBX
- 14 November: 415.20 GBX
- 14-Day Gain/Loss: +10.80 GBX (+2.60%)
- 2023 Market Open: 536.00 GBX
- Yearly Gain/Loss: -110.00 GBX
- Yearly (%) Movement: -20.52%
Light & Wonder (LNW) – NASDAQ NYC – USD
Light & Wonder posted Q3 earlier this month and bounced 9% on positive financial news. The stock has been flat since then and trades at USD 86.95. The company is up almost 50% since the start of 2023 and has outperformed all its peers. LNW finished the purchase of SciPlay last month, and it was an immediate growth driver for the company. The company continues expanding its territory in 185 international gaming jurisdictions, significantly contributing to revenue growth. These factors will continue to drive the company’s current revenue strategy.
- Current: 86.95 USD
- 14 November: 86.48 USD
- 14-Day Gain/Loss: +0.47 USD (+0.54%)
- 2023 Market Open: 58.12 USD
- Yearly Gain/Loss: +28.83 USD
- Yearly Percentage Movement: +49.63%
888 Holdings (888.L) – London Stock Exchange (LSE) – GBX [British Pence]
888 Holdings is another company that has struggled since posting its Q3 financial report. The Q3 reported a drop in revenue of 8% and trimmed their full-year 2023 guidance. The share price has fallen 41% since September and is flat (down 0.6%) in the last two weeks. The current price is 80.95 GBX with resistance at 83.10 GBX and strong support at 78.65 GBX.
- Current: 80.95 GBX
- 14 November: 77.90 GBX
- 14-Day Gain/Loss: +3.05 GBX (+3.92%)
- 2023 Market Open: 88.05 GBX
- Yearly Gain/Loss: -7.10 GBX
- Yearly Percentage Movement: -8.06%
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