Catch up on the latest iGaming stock prices. Spoiler alert – some slight drops in value since the previous report, but all firms remain in the green since the beginning of 2023! (Photo by MediaModifier on pixabay.com)
Most stocks have tumbled since the last report due to macroeconomic data, specifically from the U.S. The Federal Reserve wants to raise interest rates to keep inflation at a predetermined goal of 2%.
When the CPI was released last week, data indicated that inflation was double its predicted target.
The main reason behind the rise is that energy costs and mortgage rates are climbing, causing a trickle-down effect on all sectors, iGaming included. The average consumer has less money to spend on non-essentials, adversely affecting the gambling industry.
If inflation is not contained, it could lead to more severe actions by the Federal Reserve, which could trigger a recession, further stalling investment in the gambling industry. While this economic news is troubling, consumer sentiment seems more optimistic in the last few months and the public feels the economy is much better now than during the pandemic.
This week the report will look at Playtech, Evolution, Aristocrat, Light & Wonder, 888 Holding and Inspired Entertainment to examine how they have faired against the macroeconomic headwinds.
July 4th Gambling Shares Report: To get a better perspective on the market and how its performed over the past couple of month, rewind to the Gambling Share Prices 2023 – Issue 14 update.
Gambling Share Prices Update
Playtech – (PTEC.L)
- Playtech has continued a downward trend as the company has lost another 4.5% since the last report. Several weeks ago, the company Issued almost £260m in senior secured notes, which was not well received by investors and the stock plunged. The mixed economic data has increased bear investor pressure, pushing the stock down even more. After hitting a yearly high of 640 GBX in May the stock opened up today and is currently trading at 572.50 GBX.
Current Price: 572.50 GBX
3 Jan 2023 Open: 506.50 GBX
2023 Performance
+66.00 GBX (+13.02%)
Aristocrat – (ALL)
- At the beginning of July, Aristocrat came off 5% but recovered those losses since the last report. Part of the turnaround can be attributed to retail investors recently increasing their shareholdings in the company which will influence ALL management’s future financial/policy decisions. The general public now owns 52% of Aristocrat when compared to institutional holdings of 37%. The increase in company retail ownership will enable the public to influence dividend payouts, executive salaries and board members, which could be beneficial… or not. The stock reached a yearly high of 40 AUD last month and is close to breaking out. The share price is currently trading at 38.32 AUD but pushed down at the open.
Current Price: 38.32 AUD
3 Jan 2023 Open: 30.66 AUD
2023 Performance
+7.66 AUD (+25.03%)
Light & Wonder – (LNW)
- Light & Wonder (LNW) – Light & Wonder has held its own in the last couple of weeks. While some of its peers have seen their share price drop, LNW continues to push up. The leader of innovative slots has debuted several new games and teamed up with Warner Bros. to expand its market share in this sector of the business. Could this be a lead-up to positive Q2 data, due to be released on August 8th? At the time of writing, LNW was at a year-to-date high and a yearly high of 70.34 USD. The stock is seeing resistance at 71.84 USD and support at 68.76 USD and some say it looks to break out even higher.
Current Price: 70.34 USD
3 Jan 2023 Open: 56.95 USD
2023 Performance
+13.39 USD (+23.50%)
888 Holdings – (888.L)
- 888 Holdings share price has taken another battering as the stock has plunged 12% in the last two weeks, 11% of that in the last 4 days. A new investment group, FS Gaming bought 6.6% of the company several weeks ago and is in a takeover bid for top management of 888. The members of FS Group were executives at GVC (now Entain) and are under investigation over bribery allegations in Turkey. The UK Gambling Commission (UKGC), which is the regulatory authority for all platforms listed on our UK online casinos list, has initiated a review of gambling licenses for 888 and stated any change in management may risk these licenses. The stock hit a low of 80 GBX on July 17th but has bounced back and is now in positive territory and is trading at 95.41 GBX.
Current Price: 95.41 GBX
3 Jan 2023 Open: 84.60 GBX
2023 Performance
+10.81 GBX (+12.79%)
Evolution – (EVO)
- Evolution has had a spectacular 5-year run, with an 876% rise in share price, hitting an all-time high of 1,672 SEK in April 2021. EVO is up 42% since January and continues to push up incrementally. Since the last report, the share price dropped negligibly in the face of negative economic news but looks poised to break out to new yearly highs. The company regularly releases new games and pushes innovation in the industry, creating investor interest. The stock opened up today and is currently trading at 1,345 SEK, seeing resistance at 1,363 SEK and support at 1,338 SEK.
Current Price: 1,345 SEK
3 Jan 2023 Open: 1,028 SEK
2023 Performance
+317 SEK (+30.87%)
Inspired Entertainment – (INSE)
- Inspired Entertainment is down 5% in the last 2 weeks. It has edged downward as investors toil over market analysts’ data, which is both positive and negative. On the positive side, analysts believe that the share price is undervalued and the EPS will outperform the market. The negative factors are the possibility that their revenue will not outperform the market, liabilities exceed total assets, and debt is not properly managed. This situation is confusing for investors and has seen a drop in trading volume, enabling the bears to take control. LNW opened down and was trading at 13.35 USD, seeing resistance at 13.60 USD and support at 12.92 USD.
Current Price: 13.35 USD
3 Jan 2023 Open: 12.85 USD
2023 Performance
+0.50 USD (+3.89%)
Disclaimer: Here at Casinoplusbonus, we are not financial experts. We do not offer investment advice. This update is simply to inform iGaming fans how the biggest gambling entertainment companies perform in the industry.
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