The latest LCC iGaming stock report includes two newcomers. BetMGM, the owner of LeoVegas and Flutter Entertainment, gives you 7 gambling stocks to follow. (Image by Pabitra Kaity at Pixabay.com)
The online gambling industry has experienced exponential growth in the past few years. With the increased demand, gambling platforms face the challenge of getting players’ attention. Once that is accomplished, what differentiates them from one another?
A major factor in keeping a player is the variety of payments a player can choose from. Are the payment options selections overwhelming, and are the options convenient?
The payment options must be straightforward, including deposits and fund withdrawals. Many operators use credit cards or bank transfers, and now digital wallets are becoming more popular… the selection of payment options needs to cater to the player. Ease of use will offer a positive user experience and improve player retention.
The variety of payment methods may vary depending on the territory and the target audience. The operator must strike a balance not to overwhelm the players but also offer the best payment method for that geographical location. Most online gambling sites offer modern and traditional payment methods – e-wallets, prepaid cards, cryptocurrencies, credit/debit cards and bank transfers.
Operators must find a satisfactory balance when offering payment options. Too many options may cause confusion, be difficult or time-consuming, and differ from territory to territory. Casinos must understand their audience and stay up to date on ever-changing trends. The ultimate goal is to provide a uniform gaming experience so that the player focuses on the game, which provides enjoyment… and is not concerned with managing their funds.
Disclaimer: We are not investment experts. This report is so live casino players can keep tabs on the latest stock movements in the stock markets for gambling company shares. For our previous report, visit iGaming Stocks Update Issue 6 2024.
Evolution (EVO.ST) – NASDAQ Stockholm – SEK
Evolution share price continues to be plagued by the class action suit hanging over their head. The ruling judge is to judge the case in the coming weeks. The company’s stock has dropped almost 6% in the last month, but analysts believe it is due to selling pressure on the Swedish stock market for the downturn. EVO has sustained strong strategic fundamentals in the past year, and analysts’ consensus is that EVO will grow 13% in the 3 years.It closed on the NASDAQ Stockholm on Friday with each share values at 1,297.50 SEK.
- Current: 1,297.50 SEK
- 22 March 2024: 1245.80 SEK
- 22-Day Gain/Loss: +51.70 SEK (+4.15%)
- 2024 Market Open: 1,217.40 SEK
- Yearly Gain/Loss (2024 Market Open): +80.10 SEK
- Yearly (%) Movement: +6.58%
Entain PLC (ENT.L) – London Stock Exchange (LSE) – GBX [British Pence]
Enitan has outperformed its peers in the iGaming industry. The company continues with its expansion strategy, through partnerships and acquisitions. Having stated this, ENT is considering divesting, as recent bids from Apollo Global and CVC Capital will increase their treasury funds. These companies have expressed interest in all or part of BetCity, Ladbrokes Australia, Enlabs and CrystalBet. The share price is up 13% in the last month. On Friday, the stick closed priced at 820.80 GBX.
- Current: 820.80 GBX.
- 22 March: 786.19 GBX
- 22-Day Gain/Loss: +34.61 GBX (+4.40%)
- 2024 Market Open: 985.40 GBX
- Yearly Gain/Loss (2024 Market Open): -164.60 GBX
- Yearly (%) Movement: -16.70%
Playtech (PTEC.L) – London Stock Exchange (LSE) – GBX [British Pence]
Playtech share price has been in a sideways trend for the last 2 months. After posting average results last month, investors did not sell off. Analysts agree that the PTEC had many challenges in 2023 but have maintained a consistent business model/strategy and they believe that the company will deliver strong financial results in 2024. The stock closed on Friday trading at 454.95 GBX with strong resistance at 466 GBX.
- Current: 454.95 GBX
- 22 March 2024: 458.20 GBX
- 22-Day Gain/Loss: -3.25 GBX (-0.71%)
- 2024 Market Open: 445.40 GBX
- Yearly Gain/Loss (2024 Market Open): +9.55 GBX
- Yearly (%) Movement: +2.14%
Light & Wonder (LNW) – NASDAQ NYC – USD
The introduction to this update outlined the importance of payment methods for the gambling sector. Light & Wonder launched RAPIDPLAY yesterday, which is a cashless casino deposit. LNW has teamed up with Trustly Pay, which requires the player to sign up (ID, transaction authority and KYC) for instant deposits from bank accounts in less than 10 seconds. This new payment system will increase operational efficiency as there will be less cash flow on the casino floor. Instant payments now account for 37% of all gambling transactions. LNW is up 19% since January but has come off in the last month (3.5%). The closing price on Friday was at 92.92 USD.
- Current: 92.92 USD
- 22 March 2024: 105.64 USD
- 22-Day Gain/Loss: -12.72 USD (-12.04%)
- 2024 Market Open: 81.56 USD
- Yearly Gain/Loss (2024 Market Open): +11.36 USD
- Yearly (%) Movement: +13.93%
888 Holdings (888.L) – London Stock Exchange (LSE) – GBX [British Pence]
Since announcing that their 2024 profit would be at the low end of market expectations, 888 Holdings’ share price has been in a bearish trend. The company has invested heavily in AI and marketing and expects profits to be marginal. The company has cut staff and eliminated some outsourced professional services to reduce operational overheads and follow its new growth-based strategy. 888 share price has remained flat in the last two weeks and finished trading at the close of the LSE on Friday priced in at 80.60 GBX.
- Current: 80.60 GBX
- 22 March 2024: 89.05 GBX
- 22-Day Gain/Loss: -8.45 GBX (-9.49%)
- 2024 Market Open: 91.00 GBX
- Yearly Gain/Loss (2024 Market Open): -10.40 GBX
- Yearly (%) Movement: -11.43%
Flutter Entertainment PLC (FLTR.L) – London Stock Exchange (LSE) – GBX [British Pence]
Most of Flutter’s revenue growth can be attributed to its U.S. subsidiary, FanDuel. Still, the company has reported growing losses from millions of dollars in impairment charges. Overall revenue of the Irish-based company for 2023 was USD 11.8b, with $4.5b coming from the U.S. market. FLUT had a trademark dispute with PokerStars and had to pay USD 725m. With the increase in U.S. revenues, the company has stated that it will list on the NYSE by May 1st, 2024, pending shareholder approval. The company is down almost 8% in the last month and closed on Friday at 15,220.00 GBX.
- Current: 15,220 GBX
- 22 March 2024: 17,195 GBX
- 22-Day Gain/Loss: -1,975 GBX (-11.49%)
- 2024 Market Open: 13,935 GBX
- Yearly Gain/Loss (2024 Market Open): +1,285 GBX
- Yearly (%) Movement: +9.22%
MGM Resorts International (MGM.NYSE) – New York Stock Exchange (NYC) – USD
Market analysts are very bullish on MGM and have set a price target of 46 USD by May 31st. Institutional investors have started increasing their positions in MGM – T. Rowe Price bought another 3.1m shares, Davis Selected Advisors bought 362m USD worth of shares, Morgan Stanley increased their stake by buying 764,000 shares to 6.7m shares and Capital World bought 292m USD worth of shares. This is good news for smaller investors as sentiment on MGM is very positive for 2024. MGM is up 4.8% for the month and closed trading on Friday 18 April 2024 priced in at 42.48 USD.
- Current: 42.48 USD
- 22 March 2024: 44.77 USD
- 22-Day Gain/Loss: -2.29 USD (-5.12%)
- 2024 Market Open: 44.29 USD
- Yearly Gain/Loss (2024 Market Open): -1.81 USD
- Yearly (%) Movement: -4.09%
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