888 Holdings stock prices rally after months of turmoil – see our brief analysis via this week’s iGaming stocks update issue 8 2023! (Image by Pabitra Kaity at Pixabay.com)
The stock market will undoubtedly have plenty of opportunities as we move into April’s last couple of weeks.
888 Holdings seems to be gaining traction as the company turns its fortunes around. The Gibraltar-based company continues to focus its efforts on core/growth markets. The U.S. and the Americas appear to be the key markets (for the big players) and are expanding rapidly as these regions institute gambling regulations. Globally, the stock market indices have been rising in the last few weeks and the iGaming industry has enjoyed the ride.
Also, if you are interested in looking back at the previous issue of this report, check out iGaming Stocks Update Issue 7.
Disclaimer: The prices in this report are not real time. For professional advice covering the topic of investing in stocks and real time prices, please see sites.
Evolution (EVO) – NASDAQ Stockholm – SEK
=Evolution had there annual general meeting on April 4th and posted balance sheets, income statements, and other financial data. Among the resolutions made at this meeting, was a dividend payable on April 17th that saw a slight increase in the share price of 1.3% at the time of writing. The stock has dropped minimally since the last report, is seeing resistance at 1,393 SEK (year-to-date high), and is currently trading at 1,367 SEK.
- Current: 1,367.00 SEK
- 4 April: 1,376.00 SEK
- 15-Day Gain/Loss: -9.00 SEK (-0.65%)
- 2023 Market Open: 1,050.50 SEK
- Yearly Gain/Loss: +316.50 SEK
- Yearly (%) Movement: +30.07%
Entain PLC (ENT) – London Stock Exchange (LSE) – GBP
Entain has also enjoyed an 8% gain since the last report and is currently trading a 1,364 GBX. The stock rose 4% since April 17th as it posted a 15% rise in 1st quarter net gaming revenue which was in line with market expectations. The company has seen robust demand from its retail betting shops (Coral, BWIN, and Party Poker), assisted by key market acquisitions. According to the trading report, retail gaming revenue increased by 14% and overall online gaming revenue increased by 16% in the three months ending March 31. The sports betting and gambling business said that first-quarter active user numbers set a record and increased by 19% year over year.
- Current: 1,364 GBX (Pence)
- 4 April: 1,252.53 GBX (Pence)
- 15-Day Gain/Loss: +111.47 GBX (+8.92%)
- 2023 Market Open: 1,350.50 GBX
- Yearly Gain/Loss: +13.50 GBX
- Yearly (%) Movement: +1.00%
Playtech (PTEC.L) – London Stock Exchange (LSE) – GBP
Playtech has done extremely well in a market that has been very volatile – bank collapses, inflation rate increases, increased regulatory issues, etc., and has held up against these obstacles. Shareholders have supported PTEC and expect the company’s fortunes to turn around in H1 because of the sound business strategies the company instituted back in 2022. Although the company suffered severe profit losses due to unrealized fair value gains on derivatives assets from 2021, it expects the European and Americas regions to fuel an impressive comeback in 2023. The company has stated that macroeconomic factors will still play, but growth opportunities in the B2B & B2C divisions will provide impressive performance going forward. PTEC is up almost 8% since the last report and is currently trading at 563 GBX.
- Current: 563.00 GBX (Pence)
- 4 April: 520.00 GBX (Pence)
- 15-Day Gain/Loss: +43.00 GBX (+8.27%)
- 2023 Market Open: 536.00 GBX
- Yearly Gain/Loss: +27.00 GBX
- Yearly (%) Movement: +5.04%
Light & Wonder (LNW) – NASDAQ NYC – USD
Light & Wonder posted less than ideal Q4 results in March and suffered an 8% drop in share price in the following few days. It has since recovered somewhat since the last report and has risen 8% and is currently trading at $61.48 USD. The share price has remained quite stable in the last 4 months, settling in between $57 and $67 USD. The stock is experiencing resistance at $63 USD and support at $58.66 USD. The company expects to get operational expenses under control in H1 to boost the year end bottom line.
- Current: $61.48
- 4 April: $60.36
- 15-Day Gain/Loss: +$1.12 (+1.86%)
- 2023 Market Open: $58.12
- Yearly Gain/Loss: +$3.36
- Yearly (%) Movement: +5.74%
888 Holdings (888.L) – London Stock Exchange (LSE) – GBP
After seeing the share price drop to over 75% in the last 7 months, 888 Holdings (you can see our 888Casino overview here for more info) is starting to see some reprieve. For months it posted bad news regarding probes into VIP Middle Eastern accounts, record fines being paid in the UK and a series of senior resignations. The company instituted new policies and procedures from January 2023 and expects Middle Eastern revenue to rise to around £30m by the end of the year. It stated that this increase would recover 40–50% of potential lost revenue in the region. 888 expects the EBDITA to be significantly higher in 2023 but the revenue will be lower than 2022, in the mid-single digits. While the company still faces market headwinds, including finding a permanent CEO, the future looks much more positive for H2. The stock opened down was trading at 77 GBX at the time of writing.
- Current: 77.00 GBX (Pence)
- 4 April: 52.94 GBX (Pence)
- 14-Day Gain/Loss: +24.06 GBX (+28.33%)
- 2023 Market Open: 88.05 GBX
- Yearly Gain/Loss: -11.05 GBX
- Yearly (%) Movement: -3.75%
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