Are you looking for the next best UK gambling stocks to invest in? Entain and Flutter pose as potentially profitable bets on the stock market! (Photo by Matt Flores on Unsplash)
Both online gambling giants Entain and Flutter Entertainment release their latest set of figures this week with many investors hoping that both firms show another uptick in profits. The share prices for both these UK iGaming companies are under a watchful eye as investors and tipsters are expecting movement from both.
Both companies are based in the UK with listings on the London Stock Exchange. Flutter Entertainment was formerly Paddy Power Betfair plc, which from the name, you can already guess which sports betting and online casino sites fall under the brand’s operations.
Entain also has some of the UK casino scene and sports betting area’s most formidable brands under its wing with the likes of BetMGM, Bwin, Ladbrokes & Coral, Party Poker, Casino Club, Foxy Bingo, Foxy Game, and Part Casino its flagship operations.
Thanks to heightened online gambling during long periods of lockdown, both Entain and Flutter’s iGaming divisions have performed well. This showed resilience as the losses caused via the brief setback in the sports betting division due to closed land-based venues and lack of odds due to the closure of global sports leagues were all cushioned by the iGaming sectors.
With both Entain and Flutter also focusing on the US markets, and land-based casinos coming back online, we should see a huge rise in revenues for both firms and inevitably, positive results should ricochet back to the share prices with more positive movement.
First, let’s take a look at the stock performance of both companies:
- Entain Share Prices: From 11 July to 11 August Entain PLC (ENT) share price has risen from 1,865 GBX to 1957 GBX and has had a 52-week low of 723.20 GBX and a high of 1999.80 GBX. Its current market cap is 11.46 billion GBX. Currently, trade volumes are at 69,992. An early morning rally has seen the stock rise 1.99% since market close yesterday.
- Flutter Share Prices: From 11 July to 11 August Flutter Entertainment (FLTR) share price has risen from 12,630 GBX to 13,785 GBX. Its 52-week low was 10,946 GBX while it as a staggering high of 17,130 in March this year which we hope to see current stocks recover to. The current market cap for Flutter Entertainment is 24.17 billion GBX, and it is trading at a volume of 227,442. An early morning run has seen the stock up 7.81% since yesterday’s market close.
Entain Positive Outlook
Formerly known as GVC Holdings, Entain recently refinanced for $1.12 billion in a move that will sure up the company and inject some extra capital. This move keeps finances in order and appears to have helped share prices rise. Entain investors, in particular, will be watching with hope as MGM Resorts is again touted to make a play for the online company that runs Ladbrokes and Coral, among others. Since the last attempt by the US casino giant over six months ago, allowing now for the rule on failed bidding to leave a six-month space prior to another bid. But MGM will now have to dig deep to win Entain shareholders over. January Entain refused an £8 billion offer from MGM and since then shares have risen to value the company at over £11 billion.
Will MGM go for that? Possibly with the latest valuation of the sports betting market in the US by Ibis World stating it could be worth more than £40 billion a year when it matures.
Flutter Doubles Revenue For First 6 Months of 2021
One of the key acquisitions for Flutter Entertainment was its shrewd takeover of The Stars Group (TSG); a company that seems to change hands regularly for some of the market’s highest billion-dollar deals. Since Flutter acquired TSG, we have seen the firm’s revenue skyrocket 99%. Overall, Flutter’s revenue doubled over the course of the first 6 months of 2021. Its revenue figures now show a staggering £3.05 billion from January to June which is partly because of TSG and due to Flutter’s ever-increasing sports betting division showing immense recovery and growth up 58% year-to-year proforma comparison.
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