In this latest biweekly iGaming Stocks Update Issue 5 2023, there were plenty of ups and downs across the 5 iGaming stocks we have been tracking. Most are up on the year with the exception being 888 Holdings. (Image by Pabitra Kaity at Pixabay.com)
Welcome back to our biweekly iGaming stocks report, where we give you an update on how the stocks of some major iGaming brands have been performing recently. As you will find out when reading through, there has been quite a lot of interesting movements.
Also, if you love to monitor stocks, check out the iGaming Stocks Update Issue 4 2023 here. Using the link in the article, you can also go back to the one before. Essentially, you can track your way through all of them just by using the links in each.
iGaming Stocks Update Issue 5 2023 – What’s the Latest?
The iGaming industry continues to deal with significant challenges – data security, credibility issues in territories where websites do not have proper regulatory guidelines, unfair online casino gambling standards (and targets for online scammers) and macroeconomic news in major countries (inflation, interest rates & regional disputes). Nevertheless, despite these obstacles, most market analysts are very positive about 2023.
The industry is expanding significantly due to the rising demand for mobile gaming. The penetration of smartphones in the market continues to drive growth as prices for these devices decline. Players moving from computers to mobile devices is a significant factor. The ease of payments on mobile devices is another component of the incredible growth of online gaming.
Technology will continue to drive this exponential growth. The introduction of AI into the iGaming industry is still in its infant stage. It will be interesting to see how AI analyses player habits and casino operations and how AI can assist in maximizing profits and forecasting.
This week we will review Entain, 888 Holdings, Playtech, Evolution and Light & Wonder to see how they have performed as we enter the month of March.
Disclaimer: We just want to point out that we’re not financial experts here at LiveCasinoCentral. We post these stock reports for informational purposes only. If you’re thinking of purchasing or selling stocks, please seek expert advice from a financial website that specialises in stocks.
Evolution (EVO) – NASDAQ Stockholm – SEK
Evolution continues to launch innovative and traditional games as they expand its territories, catering to the tastes of its players. In India, a traditional card game has been reintroduced and players have an abundance of betting options with multipliers paying out a possible 4,000x!!! In Vancouver, 6 live casinos have been launched (5 with French presenters) through Loto-Quebec and enable players to play alongside each other at tables of their choice. This technological upgrade could be the new technological advancement to push the limits of existing digital/streaming games. The stock has declined somewhat in the 2 weeks but opened up today and is trading at 1,288 SEK. It is just shy of its yearly high of 1,357 SEK (attained in early February) and analysts expect the stock to break out in the coming week.
- Current: 1,288.20 SEK
- 22 February: 1,321.20 SEK
- 14-Day Gain/Loss: -33.00 SEK
- 2023 Market Open: 1,050.50
- Yearly Gain/Loss: 237.70 SEK
- Yearly (%) Movement: +22.63
Entain PLC (ENT) – London Stock Exchange (LSE) – GBP
Ladbrokes, a brand owned by Entain, was fined in Australia recently for 3 gambling offences regarding a customer that wasn’t properly assessed. These red flags were ignored and the company was fined $17,000 AUD, a decision handed down by the NT Racing Commission. This news hasn’t affected the share price and ENT is slowly pulling back the losses it suffered after the UK government announced a probable interest rate hike on February 8. In the last couple of weeks, the stock is up 1.6% but needs to achieve a target of 1,567 GBX, the Feb. 8th level to start breaking out. It opened at 1,399 and is currently trading at 1,403 GBX.
- Current: £1403.50
- 22 February: £1,383.00
- 14-Day Gain/Loss: +£20.6
- 2023 Market Open: £1,350.50
- Yearly Gain/Loss: +£53
- Yearly (%) Movement: +3.92%
Playtech (PTEC.L) – London Stock Exchange (LSE) – GBP
Even though Playtech adjusted its FY2022 outlook a few weeks ago, with EBITA rising 26%, it has not affected the share price and PTEC continues its horizontal movement. It would appear that investors are content to sit on the sidelines and wait for March 23rd results. Trading volumes are down considerably, displaying a disinterest from investors. The stock opened down today but has bounced back and is currently trading at 578.50 GBX.
- Current: £ 578.50
- 22 February: £591.70
- 14-Day Gain/Loss: -£ 13.2
- 2023 Market Open: £ 536.00
- Yearly Gain/Loss: +£ 42.50
- Yearly (%) Movement: +7.34%
Light & Wonder (LNW) – NASDAQ NYC – USD
Light & Wonder missed its quarterly earnings by $0.25 USD, when results were released last week. This represents a 67% decrease from last quarter. Although LNW didn’t make a profit in the last year, it reported higher year-on-year revenue. Revenues rose in Q4 to $682m USD from $580m from the previous year quarter. Product sales also grew 39.4% to $216m USD. This data was offset by increases in operating income and tax expenses. It would appear that shareholders consider revenue trends to be very meaningful to growth as the stock is up 2.26% since releasing the mixed results. LNW is currently trading at $62.49 USD and is up 18% in the last year.
- Current: $ 62.49
- 22 February: $ 68.00
- 14-Day Gain/Loss: -$ 5.51
- 2023 Market Open: $ 58.12
- Yearly Gain/Loss: + $4.37
- Yearly (%) Movement: +7.51%
888 Holdings (888.L) – London Stock Exchange (LSE) – GBP
The struggling UK-based company 888 Holdings, continues to suffer at the hands of regulators. In Austria, where the 888 operates several gaming websites, have been sued by 2,500 gamblers to recover their losses but the 3 highest courts in Austria have been on the side of the state-owned company Casinos Austria. The courts have ruled that these websites are operating illegally and are by law, bound to pay back the losses. In accordance with EU law and their Malta license, 888 argues that gambling monopolies violate basic rights protected by EU law, including the freedom to offer services. As 888 Holdings’ troubles continue, it has realised gains of 2% in the last 5 days and is trading at 71.30 GBX, but has a long road ahead to recoup 63% in yearly losses.
- Current: £ 71.30
- 22 February: £71.32
- 14-Day Gain/Loss: -£0.02
- 2023 Market Open: £ 88.05
- Yearly Gain/Loss: – £ 16.75
- Yearly (%) Movement: – 19.02%
iGaming Financials: By keeping an eye on our casino news stories, you will catch plenty of other news covering iGaming financials. We also cover the latest iGaming partnership deals, awards and events, new casino games, and more.
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