MGM Resorts hits Japan, and there could be openings in Southeast Asia for large casino brands and slot machine/game cabinet suppliers. Could MGM and Playtech have their eyes on Thailand, and how will this affect stock prices? (Image by Mohamed Hassan from Pixabay)
We’ve changed the name of our Gambling Share price update to reflect the Casinoplusbonus brand and the fact that this is a monthly report by our finance expert (me – Luke Weber).
As gambling becomes more popular globally, countries and territories have been targeted by some of the biggest gaming companies for expansion. Countries see legalized gambling as a new source of tourism and revenue to boost the country’s coffers, and gaming corporations have an opportunity to increase their stock price.
Some Middle Eastern countries have strict anti-gambling laws because of strong religious beliefs that forbid it, but a handful of countries allow it in the form of sports betting and online casinos.
Gambling has been a mainstay in Asian countries like the Philippines, Macau, Cambodia and Singapore. Japan will open its first casino in Osaka in 2030 through MGM Resorts Osaka.
The gross gaming revenue (GCR) is estimated to rival Macau in regional dominance at approximately $25 billion USD annually. Thailand is now trying to fast-track casino development and has the majority backing of Thai lawmakers.
The Thai Prime Minister recently stated that Thailand will introduce gambling in the country with ‘lightning speed and efficiency.’ Thailand’s number one revenue stream – tourism, has suffered since COVID-19, and tourism has dropped considerably.
Government officials are betting that the introduction of gambling will boost them to draw more tourism dollars to the country. The country will also benefit from investment and thousands of jobs for the local population. The question is, which brands will come into the country? Playtech is already positioned well in Asia, as is Evolution, and MGM Resorts, with its Japanese venture, could also decide to jump into the Thai land-based gambling market.
Reports/studies on local gambling have concluded that Thai casinos would generate more average tourist spending by 51%. The country averages around 40 million tourists annually, a substantial increase in foreign tourist dollars.
For Thailand to succeed in this momentous venture, it must attract top gaming companies, utilize its unique culture, blend it with world-class entertainment, and monitor how neighboring countries step up their game to attract the same number of tourists. With the political clout needed to bring this to fruition, it will only be a matter of time before they start breaking ground on the first casino.
Previous Gambling Company Share Price Reports: Track back through our previous gambling share price reports starting with last month’s prices issued on the ‘Gambling Share Prices 2024 – Issue 10‘ update.
Gambling Company Price Movements
London Stock Exchange (LSE)
Playtech – (PTEC.L)
Playtech has signed a several key partnerships since the last report. They have signed with Kaizen Gaming to release the bespoke game ‘Pig Champions,’ signed with Betfair and LeoVegas to promote live ‘Collect Roulette,’ and inked a deal with QTech to supply online gaming technology.
While these new partnerships will contribute to their bottom line, the biggest joint venture was signed in early July with MGM Resorts. The partnership with MGM will stream live single/double roulette and baccarat games from their MGM Grand and Bellagio casinos in Las Vegas.
The share price of PTEC has surged 21% in the last month and is currently trading at 554.44 GBX.
Current Price: 554.44 GBX
2 Jan 2024 Open: 445.40 GBX
(+109.04 GBX | +24.48%)
3 Jan 2023 Open: 506.50 GBX
(+47.94 GBX | +8.95%)
Australian Securities Exchange (ASX)
Aristocrat Leisure Limited – (ALL.AX)
Aristocrat will attend the APAC industry trade show next month to present some of their technology that will enhance casino floors. The company stated that they will introduce their software on cashless payments, present an update on their reporting software and introduce their new managed services team.
The share price moved in positive territory in July, up 2.6%, but has been flat for the last ten days. Shares are currently trading at 52.59 AUD with strong resistance at 53.66 AUD.
Current Price: 52.59 AUD
2 Jan 2024 Open: 40.60 AUD
(+11.99 AUD | +29.54%)
3 Jan 2023 Open: 30.66 AUD
(+21.93 AUD | +71.53%)
(Nasdaq Stock Market)
Light & Wonder – (LNW)
Light & Wonders’ share price continues to edge up. The stock hit an all-time high on July 12th of 108 USD. Investors seem bullish on LNW but a few institutional investors have pulled some of their stock, signaling a rise in short selling.
The share price has been flat since the last report (after reaching an ATH) and is currently trading at 103.89 USD with strong resistance at 108 USD and support at 101.55 USD.
Current Price: 103.89 USD
2 Jan 2024 Open: 81.56 USD
(+22.33 USD | +27.38%)
3 Jan 2023 Open: 56.95 USD
(+46.94 USD | +82.42%)
London Stock Exchange (LSE)
EVOKE PLC – (EVOK)
On July 18th Evoke plc released second quarter earnings for 2024. The company posted flat international revenue growth of 2%.
The company said that increased internal costs, leadership changes, rebranding (March 2024) and low retail sales in the UK were attributed to the poor earnings report. As a result, the share price has fallen almost 30% since July 18th.
The stock is currently trading at 58.30 GBX and at a 5 year low.
Current Price: 58.30 GBX
2 Jan 2024 Open: 91.00 GBX
(-32.70 GBX | -35.93%)
3 Jan 2023 Open: 84.60 GBX
(-26.30 GBX | -31.09%)
(Nasdaq Stockholm)
Evolution AB – (publ) (EVO.ST)
Evolution posted disappointing 2nd quarter earnings on July 18th. The share price dropped 9% on the news, analysts stating that the Random Number Generator (RNG) was flat and that the company relied on unregulated Asian markets for growth.
Revenue was up 15% over last year but the strategy of diversification and lowering of risk did not deliver. The share price is down 7% since the last report and is currently trading at 1,033 SEK.
Current Price: 1,033 SEK
2 Jan 2024 Open: 1,217.40 SEK
(-184.40 SEK | -15.15%)
3 Jan 2023 Open: 1,028.00 SEK
(+5.00 SEK | +0.49%)
(Nasdaq Stock Market)
Inspired Entertainment, INC – (INSE)
The troubled Inspired Entertainment continues to flounder as the share price dropped another 1% since the last report. The stock has been in the red for over a year and is down 28% from last year.
The company continues to launch new games and partnerships but has not excited investors, and short-selling is quite high as the company prepares to post its Q2 earnings report on August 8.
The share price currently trades at 9.13 USD with strong resistance at 9.54 USD.
Current Price: 9.13 USD
2 Jan 2024 Open: 9.84 USD
(-0.71 USD | -7.22%)
3 Jan 2023 Open: 12.85 USD
(-3.72 USD | -28.94%)
London Stock Exchange (LSE)
Flutter Entertainment plc (FLTR.L)
Flutter’s share price continues to rise as the company outperforms its peers and the overall market. The stock is up 6% in the last month and up 11% since January.
Many analysts are currently recommending FLUT as a ‘buy’ and the company has seen a substantial inflow of capital from institutional investors in the past week.
The share price is currently trading at 15,350 GBX and is very bullish before posting the Q2 earnings report on August 13th.
Current Price: 15,350 GBX
2 Jan 2024 Open: 13,935 GBX
(+1,415 GBX | +10.15%)
3 Jan 2023 Open: 11,405 GBX
(+3,945 GBX | +34.58%)
New York Stock Exchange (NYSE)
MGM Resorts International (MGM)
The fallout from last year’s cyber-attack on MGM continues to hamper the rise of the share price. It is estimated that the cost of the attack will be upwards of 100m USD, which will continue to effect the bottom line.
Just recently a second suspect in the case was arrested in the UK, but arrests won’t reverse the damage done. Visit the MGM cyber-attacker arrest news report for more information.
A consensus of 15 analysts have recently posted their ratings of MGM and have the casino owner at a ‘buy or strong buy’ as the stock is at a 2-month low. This optimism has not brought investors back as the share price continues its bearish movement.
MGM stock is currently trading at 41.84 USD and is down 3.5% in the last month.
Current Price: 41.84 USD
2 Jan 2024 Open: 44.29 USD
(-2.45 USD | -5.53%)
3 Jan 2023 Open: 33.93 USD
(+7.91 USD | +23.30%)
Disclaimer: Please do not use the advice on this page to make investment decisions. This is simply a report that speculates future deals and confirms partnerships, and although this may seem like useful information, it is always best to get advice from a professional trading platform or financial advisor.
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