In this latest bi-weekly iGaming Stocks Update Issue 4 2023 all 5 companies turned out with 12 day gains since the previous report. Only 888 Holdings is down on its 2023 market opening! (Regular photo by Mediamodifier on Pixabay)
Welcome back to the bi-weekly iGaming stocks report. We are now on issue 4 and we are seeing some interesting movement.
Also, if you are a number guru and want to look at some historical data, check out the iGaming Stocks Update Issue 3 here. You can even rewind back through issues 1 and 2, and to 2022’s reports!
iGaming Stocks Update Issue 4 2023 – What’s been happening?
As we move into the final week of February, there are some interesting movements in the iGaming industry. The British market is still in recovery mode after the government stated an interest rate hike was probable in the coming weeks in an effort to rein in rampant inflation. This caused an immediate overall drop in all sectors, companies fearing declines in future earnings reports.
The overall market benefited from sports betting on the FIFA World Cup, with some retail providers posting increases of 145% over the previous year. As the industry expands to new markets and permits betting on newly introduced sports, this sector of the iGaming industry is set to attain new quarterly and yearly targets. These targets would include hard figures (bets, users, retail shops, etc.) and translate into possible higher revenues and earnings per share in the coming year.
Disclaimer: Just so you are aware, we are not financial experts. We are simply folk interested in what’s happening with stock prices for companies in our industry. If you would like to invest in these stock, my suggestion is to seek out advice from a financial website that specialises in stock investments.
Evolution (EVO) – NASDAQ Stockholm – SEK
Evolution has consistently posted strong earnings in the challenging iGaming market across all key financials and it is anticipated this trend will persist. When compared to its competitors, the company has increased an incredible 38% in the past year!! EVO’s performance can be attributed to sound fundamentals and a stable executive board that has regularly responded to challenging market situations with noteworthy, well-thought-out decisions. Although the stock is flat for the week, it is still in positive territory and is currently trading a 1,321.20 SEK.
- Current: 1,321.20 SEK
- 10 February: 1,270.40 SEK
- 12-Day Gain/Loss: +50.80 SEK
- 2023 Market Open: 1050.00
- Yearly Gain/Loss: +271.20 SEK
- Yearly (%) Movement: +25.83%
Entain PLC (ENT) – London Stock Exchange (LSE) – GBP
Entain was riding high on earnings news from a few weeks ago. The company stated that full year Net Gaming Revenue (NGR) was up 15%, customers were up 14% year-on-year and the joint venture with BetMGM posted NGR of $1.44b. This positive news was abruptly interrupted by the Bank of England’s statement that they were going to raise interest rates. ENT has since gained 5% of the 14% decline it took on the announcement and has traded in positive territory since then. Entain is currently trading at 1,383 GBX and analysts are bullish on this stock breaking 1,688 GBX in the next quarter.
- Current: £ 1,383.00
- 10 February: £ 1,321.50
- 12-Day Gain/Loss: +£ 61.50
- 2023 Market Open: £ 1,350.50
- Yearly Gain/Loss: +£32.50
- Yearly (%) Movement: +2.40%
Playtech (PTEC.L) – London Stock Exchange (LSE) – GBP
Playtech is still making small but steady gains in the market. When the market tumbled in September 2022, the stock trading at 390 GBX, PTEC has been on the road to recovery, with the stock recovering 32% of its losses. Through innovation and acquisitions, the business has maintained consistent growth. Two weeks ago, it signed a collaboration agreement with NorthStar in the Canadian market. Market analysts have stated that the £7,593,000 investment equates to a 16% stake and a seat on the board. At the time of writing, the stock was in positive territory and trading at 591.70 GBX.
- Current: 591.70
- 10 February:£ 569.50
- 12-Day Gain/Loss: +£22.20
- 2023 Market Open: £ 536.00
- Yearly Gain/Loss: +£55.70
- Yearly (%) Movement: +10.4%
Light & Wonder (LNW) – NASDAQ NYC – USD
LNW is another company that has held up well in the last year, up 6.65%. The stock price has come off in the last two weeks but it could be the result market makers manipulating the market, as LNW will post Q4 2022 results on March 1st. Average trading volume is somewhat lower as investors could be sitting on their hands, indicating that they may be waiting for the earnings report. Earning results are expected to be in line with previous forecasts, which were positive. LNW is currently trading at $64.32 USD and is not far from breaking a one year high of $68 USD.
- Current: $ 68.00
- 10 February: $ 65.26
- 12-Day Gain/Loss: +$ 2.74
- 2023 Market Open: $ 58.12
- Yearly Gain/Loss: +$9.88
- Yearly (%) Movement: +17%
888 Holdings (888.L) – London Stock Exchange (LSE) – GBP
Troubled 888 Holdings continues to feel the negative market reaction to the money laundering allegations several weeks ago. Middle Eastern VIP client accounts were closed and the CEO resigned, causing the stock to crash 26% in one day and there are no clear indications of recovery. Although the 888-share price is up 1.9% in the last couple of days, it has a long road ahead to recover the 70% loss in the last year. The stock has moved sideways since the news and is currently trading at 71.32 GBX, just above a yearly low of 65.25 GBX last week.
- Current: £ 71.32
- 10 February: £ 68.40
- 12-Day Gain/Loss: +£2.92
- 2023 Market Open: £ 88.05
- Yearly Gain/Loss: -£16.73
- Yearly (%) Movement: -18.98%
iGaming Financials: You can find more news covering iGaming financials via our casino news stories pages. We also cover topics such as promotions, B2B partnerships, B2C gambling news, regulatory news, and more industry-related topics.
Leave A Comment