Since the year began, the main online casino brands floated on the stock market and covered in our report remain up on 2023 market open! (Photo by MediaModifier on pixabay.com)
As we move into the month of July, there are plenty of opportunities in the iGaming industry stocks. Whether you are bullish or bearish, there is something for everyone.
While most stocks covered in this report have remained quite flat, there are a couple of gems worth investigating. Their short-term outcome will depend on internal and external factors that will have to play out in the public space – takeovers, corporate member changes, debt re-structuring, technology advancements and regulations.
All of these factors will be at play and the well-seasoned investor will have his work cut out for him.
In this week’s report, the iGaming stocks that will be reviewed are Playtech, Evolution, Aristocrat, Light & Wonder, 888 Holdings and Inspired Entertainment.
Check the prices a fortnight ago? For the report covering the same software providers on 20 June 2023, check out the Gambling Share Prices 2023 – Issue 13 update.
Gambling Share Prices Update
Playtech – (PTEC.L)
- Playtech has not improved at all since the last report. The share price has come off another 3% in the past two weeks and appears the downward trend will continue. The stock isn’t making any excessive moves but it would seem that the bears have control at the moment. The big news a few weeks ago was PTEC issued £258m senior secured notes (payable in 2028), to repay outstanding debt/expenses and this has rattled investors. After reaching a yearly high in May of 640 GBX, the share price has fallen 8% and is currently trading at 589.29 GBX.
Current Price: 589.29 GBX
3 Jan 2023 Open: 506.50 GBX
2023 Performance
+82.79 GBX (+16.34%)
Aristocrat – (ALL)
- Aristocrat has done well in a very fragmented market in the past year. The share price hit a yearly high of 40.10 AUD two weeks ago but came off and is currently trading at 39.35 AUD. The stock is up 13% in the last year and beat the market with a 28.5% rise since January. The company has a strong balance sheet, low debt and the EPS has exceeded a 5-year average, making this an attractive investment in the short term.
Current Price: 39.35 AUD
3 Jan 2023 Open: 30.66 AUD
2023 Performance
+8.69 AUD (+28.35%)
Light & Wonder – (LNW)
- LNW shareholders have something to cheer about as the company announced that their 1.4b USD EBITDA is on track for the Q2 report. The share price has crept up incrementally since January, rising almost 17%, achieving a yearly high on July 3rd of 69.53 USD. The company has shown strong financial performance in all key sectors and should beat the market predictions. LNW is currently trading at 68.99 USD and may breakout to new yearly highs.
Current Price: 68.99 USD
3 Jan 2023 Open: 56.95 USD
2023 Performance
+12.04 USD (+21.10%)
888 Holdings – (888.L)
- After having a phenomenal start at the beginning of June, 888 share price has dropped 20% since the last report. The stock has come off as the head of FS Gaming Investments (took a 6% stake in 888 last month), Kenny Alexander has made a play for the CEO position at William Hill on June 18th. He is currently in talks with investors and board members but if these talks fail, it is expected that he will try a hostile takeover. The interim chairman Lord Jonathan Mendelsohn, is supported by major shareholders, including the Shaked family from Israel. This showdown will only hurt the stock price and cause more grief for investors. To complicate matters even more, Mr. Alexander is under investigation by U.K Revenue & Customs for his previous role in GVC (now Entain) which has alleged corporate misconduct (bribery of Turkish officials). It will be interesting to see how this narrative plays out in the coming weeks… and how investors will react to the takeover bid for the CEO position… 888 drama continues. The stock price, at the time of writing, opened up and was currently trading at 100 GBX.
Current Price: 100 GBX
3 Jan 2023 Open: 84.60 GBX
2023 Performance
+15.40 GBX (+18.23%)
Evolution – (EVO)
- Evolution is also another stock that has not faired well since the last report. The share price has fallen almost 5% and is currently trading at 1,338 SEK, well below its calendar year high of 1,469 SEK, which it achieved at the beginning of June. Two factors can be attributed to the sell-off – the dividend payout was quite low when compared to its industry peers and EPS is below a 5-year average. But… the company is debt free and earnings and cash flow cover dividend payments, so these positives should offset any negatives for the share price in the near future.
Current Price: 1,338 SEK
3 Jan 2023 Open: 1,028 SEK
2023 Performance
+310 SEK (+30.15%)
Inspired Entertainment – (INSE)
- Since coming off of a yearly high of 16.44 USD last March, INSE has regained some of the losses and is trading at 14.74 USD. The company continues to quietly sign new deals and extend former partnerships, the latest extension is with bet365. Many market analysts have increased their EPS 2023 consensus target for INSE, as the company continues to outperform the market.
Current Price: 14.74 USD
3 Jan 2023 Open: 12.85 USD
2023 Performance
+1.89 USD (+14.71%)
Disclaimer: We do not offer investment advice, and the information provided in this report is not created for investment purposes.
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