iGaming Stocks Update Issue 3 2023 – Entain + 888 Shares Slip While

In this week’s iGaming Stocks Update Issue 3 2023 Evolution skyrockets with a 21% yearly gain, while Entain & 888 stocks fall -2.15% and -22.32%, respectively, on their 2023 Jan 3 marketing opening prices! (Regular photo by Mediamodifier on Pixabay)

It’s time for another iGaming stocks update keeping you informed on how the top online and land-based gambling companies are performing on global stock exchanges.

This is the third report of the year following Issue 1 and Issue 2. You can find both those reports by rewinding back a fortnight to the iGaming Stocks Update Issue 2 2023 update.

iGaming Stocks Update Issue 3 2023 Quick View!

As we move into the 2^nd week of February, it’s that time of year again and iGaming companies have released or will be releasing their full year financial reports in the coming month(s).

While many companies have seen considerable growth post-Covid, some are suffering as they let their eye off the ball and concentrated or focused on the insignificant internal sectors, while overlooking growth sectors.

As a recent example, successful iGaming companies prioritized developing extensive distribution networks that covered the majority of their potential market ahead of the commencement of the men’s World Cup. This led to significant profit from this tournament. These iGaming enterprises will be able to expand into other markets and create new initiatives because of robust short-term cash flows.

The iGaming companies featured this week are Playtech, Evolution, Light & Wonder, 888 Holdings and Entain. This article will look at these stock movements and where they may be headed.

Disclaimer: This report is purely for your information only. It is not for you to make an informed decision in whether to invest in iGaming stocks. If you are interested in any of the iGaming companies in this update, please seek advice from a professional financial trading platform.

Evolution (EVO) – NASDAQ Stockholm – SEK

EVO recently released an impressive Q4 report on February 2^nd and the stock has jumped 14% in the last 5 days!! The company has faced the same challenges (inflation, lower consumer confidence, supply chain issues, war in Ukraine, etc.) as its peers and has succeeded because of a long-term strategy that it has adhered to. The company promised a target of 88 new games in 2022 and delivered… many of these were top games in the market. EVO’s EBITDA increased by 35% for the Q4 and profits amounted to £757m for the full year. Although EVO opened down today and is trading at 1,270.40 SEK, 2023 looks very bright for this iGaming company.

Entain PLC (ENT) – London Stock Exchange (LSE) – GBP

Entain saw its shares jump 6% since posting a glowing 2022 year-end financial report a week ago. ENT’s online net growth revenue (NGR) rose approximately 12% to £990m from previous expectations of between £925m to £975m. The financial report’s success was also attributed to an increase of 14% over the prior year in the number of new active consumers. The company’s sound strategy of global expansion, new games/technology and embracing a safe gambling environment (regulatory initiatives) lead the exceptional growth. However, it’s not all rosy on the stock markets because MGM Resorts CEO Bill Hornbuckle decided not to make another offer to purchase Entain. As the news leaked, so did the value of the ENT stock, which is currently trading at 1,321.50 GBX. In fact, since the market opened today at 1569 GBX on 8 Feb, the stock value has plummeted -15.77%, and it could continue to slide as investors in hope of a takeover back out of the stock.

Playtech (PTEC.L) – London Stock Exchange (LSE) – GBP

Playtech continues to make incremental gains in the market as it maintains a stable position with its peers. The stock is down 8% for the year and up 3.61% in the last 2 weeks. A month ago, the company said it expected earnings to rise by 25% because of its Snaitech business to business partnership. This translates to adjusted core earnings of approximately £400m from £317m last year. Investors don’t appear to be motivated by the news and are instead choosing to wait until the year-end financial report is out. PTEC has also recently hired Samy Reeb, as an Independent Non-Executive Director, to assist in carrying out the group’s strategy of reviewing options for refinancing their £432m debt. At the time of writing, the stock opened down and is currently trading at 569.50 GBX.

Light & Wonder (LNW) – NASDAQ NYC – USD

LNW broke new yearly highs last Friday and is currently trading at 65.26 USD and is up 3.4% in the last 12 months (since 10 Feb 2022). Although that number isn’t astronomical, it is still one of the best performing (most consistent) stocks in the iGaming market. The company is still riding high on its Q3 results and it would appear that the trend could continue in 2023. Let’s see what happens!

888 Holdings (888.L) – London Stock Exchange (LSE) – GBP

In the case of 888 Holdings, sometimes the house might lose, as it has suffered considerable misfortune over the last year, some of it due to its own internal executive decisions, poor strategic vision, and UK regulatory issues. The company’s share price is down 72% for the year, and had a good run in the last 4 days, but is currently trading at 68.40 GBX. This is the 68.75 GBX back in April 2012, while its all-time low point was 28.75 GBX on 26 August (my birthday) in 2011.

Figures continue to fall despite a not-so-bad year overall according to the recent 888 Live Casino Operator Financials – Q4 2022 results. Its overall loss was a 2.6% year-on-year reduction with a £ 1.85 billion down from £ 1.9 billion. Therefore, you may wonder why the stock price has fallen so much. Well, the company has increased debt due to the William Hill reverse takeover, and recently CEO Itai Pazner left the company. On top of this, regulatory issues in the middle east have hit 888 Holdings, plus the company is no longer operating in the Netherlands.

iGaming Stocks & Financial Reports: For those of you that like to crunch numbers, then our casino company financial news might be just the place for you to stay up to date with financial reports covering land-based and online gambling financial figures. Check out the ‘Economy and Finance’ category or ‘Financial’ tag below for your blast of iGaming financial news.