Join the ride – an up-to-date analysis of the current share prices of dealer platforms online – iGaming Stocks (WK46) review! (Photo by petre_barlea on pixabay)
In the last couple of weeks, the major market indices have increased between 4% and 8.4%… the best gains in several months. This rise has been attributed to the positive U.S. inflation report last week that the CPI has softened and that the U.S. midterm elections “Red Wave” didn’t materialize. The next few days could see a sell-off as investors take their marginal gains.
Over in the cryptocurrency market, most coins have again suffered a huge sell-off as FTX/Alameda has filed for Chapter 11 bankruptcy after a possible bailout from Binance didn’t transpire. Cryptocurrencies all took a dive and Bitcoin lost 4.6% of its value in the last 5 days and 12% in the last month.
The iGaming stocks have all seen declines in the last two days, and it could be endemic of a market correction. Plus, there are some saying that there is a ripple effect of the cryptocurrency meltdown that has been hit with a new industry catastrophe which many say is due to a lack of transparency in an unregulated market. As many hedge funds and wealth funds, well-known for diversification, have been hit by widespread crypto asset declines.
Previous iGaming Shares Report: Rewind to our 2 November iGaming report where we also give you stats from the beginning of the year for each stock, plus, you can double check changes in valuations from then until now. Let’s check out the current stock prices below…
Disclaimer: The stock prices shown is report should not be used to make a purchase. These are guideline prices taken at the time of writing. The prices will have changed since the report was published. Please check with a reputable trading platform for up-to-the-minute valuations.
Evolution (EVO) – NASDAQ Stockholm – SEK
Evolution has remained relatively flat over the last 2 weeks, with a modest loss of 0.35% and currently trading at 1,012.60 SEK. Market analysts forecast this stock to have annual earnings growth of 16.7% compared to historical earnings of 52%. This comparison may see the stock dwindle in share price over the coming weeks.
- 2 November: 1.039 SEK
- Current: 1,012.60 SEK
ENTAIN PLC (ENT) – London Stock Exchange (LSE) – GBP
This iGaming stock has been on a bit of a run in the last month and spiked up in the last several days. ENT has risen almost 7.2% in the last few days but is starting to decline, currently at 1,237 GBP. If the stock continues to decline, it may break through the floor of 1,326 GBP and lose all of its previous gains to signal new lows.
- 2 November: £ 1,263
- Current: £ 1,326
Playtech (PTEC.L) – London Stock Exchange (LSE) – GBP
PTEC has also enjoyed a 5.5% run in the last two weeks but has started to come off. It is currently at 552 GBP and has seen some volatility in the last 5 days. It could be because of the recent partnership with BetVictor (casino content) and investors are waiting to access what this could mean for PTEC. PTEC has also shaken up one top executive in the company with the CFO leaving on Nov.1st and will be succeeded by the Deputy Chief Financial Officer, Chris McGinnis. This new appointment may also be a factor in the recent volatility.
- 2 November: £ 732
- Current: £ 552
888 Holdings (888.L) – London Stock Exchange (LSE) – GBP
888, the owner of the 888Casino live, has enjoyed a 6.8% rise since the beginning of November and looks like it is going to break 2-month highs. With a current price of 101.86 GBP, market analysts are putting out “buy” signals on this stock. With earnings poised to grow at 54.76% in the coming year and earnings growing at 1,668% in the past year, this stock looks like a rising star.
- 2 November: £ 95.85
- Current: £ 101.86
Light & Wonder (LNW) – NASDAQ NYC – USD
LNW stock price increased 6.9% over the last couple of weeks leading up the release of the third quarter earnings report. This run up could be that the market expected the earnings to be positive. Light & Wonder released their 3rd quarter on November 11th and beat analysts’ estimates on revenue by 3.6% which was up 20% from a year ago to $648m USD. It should be noted that although LNW beat 3rd quarter earnings, the company’s earnings are expected to decline an average of 140% over the next 3 years. I’m sure the coming weeks be very interesting for LNW and how the market reacts to the analyst’s report.
- 2 November: $ 57.26
- Current: $ 64.05
Read iGaming related financial news here: If you are looking for more financial news, take a look at the recent Evolution revenue report in which the company reported increases of 37% in Q3 of 2022, plus you’ll find industry specific news such as the latest UK Gambling figures covering the current economic climate of the UK’s overall gambling market.
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