888, L&W, ALL and EVO iGaming stocks are still proving profitable on 2023, while PTEC and INSE need to make up ground! (Image by Mohamed Hassan from Pixabay)
The major news coming out of the U.S. on September 20th was the announcement that the Federal Reserve wouldn’t raise the interest rates at the moment but that a hike could happen before the end of the year.
All major global indices dropped on this news, and companies in the iGaming industry suffered as well… some more than others. The pause in the rate hike is that economic activity is strong, but a future increase could be in the cards to combat inflation.
The interest rate hike will impact the iGaming industry as the price of goods and services increases, and the development and rollout of these games will also increase. Inflation also decreases the value of currencies (purchasing power), so customers will see higher costs associated with playing their favourite games.
The iGaming industry needs to constantly find ways to optimize development processes, streamline operations and manage staff salaries/increases. Inflation and interest rates remain a constant threat to the industry and companies that adapt will find sustainable solutions for continued growth and success. This report will check out where Playtech, Evolution, Aristocrat, Light & Wonder, 888 Holdings and Inspired Entertainment may be headed in the weeks ahead.
Gambling Company Share Reports: For prices from two weeks ago, visit the Gambling Share Prices 2023 – Issue 19 update.
Gambling Share Prices Update
Playtech – (PTEC.L)
- The troubled Playtech continues to sign global partnerships with local vendors to promote their gambling technology and games. The newest investment is with Sporting News Media, and PTEC announced a USD 15m round of funding. This tie-up will ensure that PTEC’s betting ads will be featured in their gambling news. PTEC invested in a Canadian company, Northstar, last February, and Northstar has now reciprocated by purchasing USD 7.4m at USD 0.13 in common shares of PTEC. While these partnerships are expected to generate more business and revenue, this has had the opposite effect on the PTEC share price. The stock has fallen 27% since hitting a yearly high of 640 GBX last May. In the previous 2 weeks, the share price has dropped almost 7% and is currently trading at 464 GBX.
Current Price: 464.00 GBX
3 Jan 2023 Open: 506.50 GBX
2023 Performance
-42.50 GBX GBX (-8.39%)
Aristocrat – (ALL)
- Aristocrat has capitalised on the release of its NFL-themed slot machines. The slots have been a big hit since their distribution in 8 U.S. states in late August as the NFL season kicks off. ALL also beat market analysts’ earnings forecasts in May, contributing to the company’s current fortunes. In the last 2 weeks, the company is up a marginal 2% but continues to reach higher highs, hitting a yearly high of AUD 43.09 on September 20th. The stock is trading at AUD 41.57, with resistance at AUD 41.85 and support at AUD 40.69. Analysts’ consensus is that the company will continue to grow and that the positive upside of ALL will endure.
Current Price: 41.57 AUD
3 Jan 2023 Open: 30.66 AUD
2023 Performance
+10.91 AUD (+35.60%)
Light & Wonder – (LNW)
- Light & Wonder’s share price has gone up 2.7% since its earnings report last month with solid Q2 2023 results, beating the bottom line and analysts’ estimates. The highlight was that the stock had only lost 1 cent per share from the same time last year. Revenues were up 16% due to a 41% growth in gaming machines and the purchase of SciPlay. The consensus for the company has changed dramatically in the last week though. LNW’s CEO has stepped down, and the head of the company is an interim replacement. Investors are unsure of the temporary leadership choice and the ‘don’t rock the boat’ approach for the company in the future. The share price has come off 8% in the last 2 weeks and is currently trading at USD 71.31. Strong support is at USD 69.17, but lower lows are expected if the price goes below this level.
Current Price: 71.31 USD
3 Jan 2023 Open: 56.95 USD
2023 Performance
+14.36 USD (+25.21%)
888 Holdings – (888.L)
- 888 Holdings’ share price has dropped considerably since the last report 2 weeks ago. The company has shed 12% in that period and appears to be in a bearish trend. The fall in stock value seems to be tied to another gambling market rival on the FTSE, Entain, who announced a gloomy outlook for Q3. On a positive note, 888 has appointed a new CFO with 17 years of experience from Superbet. The company has also signed an agreement to be the official authorised gaming operator for the CFL in Ontario. The share price is currently trading at 111.10 GBX and appears to be headed to lower lows.
Current Price: 111.10 GBX
3 Jan 2023 Open: 84.60 GBX
2023 Performance
+26.50 GBX (+31.41%)
Evolution – (EVO)
- Evolution appears to be mirroring the PTEC chart. The company hit a yearly high of 1,469 SEK last May but has shed almost 26% since then. The company is down 8% since the last report and currently trades at 1,092 SEK, with support at 996 SEK. The share price could plummet to new yearly lows if it breaks through this level.
Current Price: 1,092 SEK
3 Jan 2023 Open: 1,028.00 SEK
2023 Performance
+64.00 SEK (+6.23%)
Inspired Entertainment – (INSE)
- After releasing positive Q2 news a month ago, INSE share price experienced a nice spike in price but has been coming off in the last 2 weeks. The stock opened down at the time of writing but is trading in positive territory. While the stock is relatively flat, it appears to be in a downward trend. INSE is trading at USD 11.44, with solid resistance at USD 11.46 and support at USD 11.25.
Current Price: 11.44 USD
3 Jan 2023 Open: 12.85 USD
2023 Performance
-1.41 USD (-10.98%)
Disclaimer: The info in this ‘Gambling Share Prices 2023 – Issue 20’ and any other connected reports are for information only. We do not provide trading advice. If you would like to trade these shares, then please seek advice from a professional trading platform or advisor.
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