Gambling Share Prices 2023 (Issue 6) scours the stock markets of Australia, Stockholm, USA & London for the latest gambling shares movements! (Photo by MediaModifier on pixabay.com)
Welcome to the sixth edition of our 2023 iGaming stocks and shares price update.
Although its not all doom and gloom, the iGaming industry continues to be plagued by negative, industry-specific news, and this week’s most important news story comes from the U.S. banking industry.
The collapse of the of regional Silicon Valley Bank (SVB) has sent the global markets reeling, with local investors pulling out of U.S. banks.
Overseas banks have also been affected as they are heavily invested in U.S. banks and are scrambling to stop the downward spiral of their stock prices. In the U.K., HSBC bought the British division of SVB and customers are be able to carry out bank transactions without interruption.
The fallout has affected tech companies globally (credit lines/deposits) and the damage to the online gaming industry has yet to be ascertained and ramifications may not be visible for months. Market analysts have speculated that the long-term impact could be higher financing costs, slowing new tech features – actual gaming elements and payment processing. Lack of “access to funds” may hamper product improvement, significantly slow down the development process, or completely halt projects that are highly dependent on expensive investments.
This week the report features Playtech, Evolution, Aristocrat, Light & Wonder, 888 Holdings, Inspired Entertainment and Entain and examine their movements over the previous two weeks in the current unstable market environment.
Previous iGaming Stocks & Shares Price Updates: This report is bi-weekly, so you can check this highlight box section on each one to move back and check historical iGaming stocks movements. Here’s our iGaming Stocks Report 2023 (Issue 5) for those of you that want to rewind a little.
Gambling Share Prices Update
Playtech – (PTEC.L)
- Playtech has held up admirably in the wake of the market sell-off and is down only 4% in the last 2 weeks. The stock was in a downward trend but has bounced back in the last 2 days. The positive move could be the partnership announcement with Hard Rock Digital in the U.S. and Canada. PTEC products (slots, live dealer tables and RNG) will be offered through HRD’s platform on a shared revenue basis. Playtech has also invested $85m in HRD, which is a single digit minority stake. The stock opened down today and was trading at 525.65 GBX at the time of writing.
Current Price: 525.65 GBX
3 Jan 2023 Open: 506.50 GBX
2023 Performance
19.15 GBX (+3.78%)
Aristocrat – (ALL)
- Aristocrat is down almost 5% since the last update. The company is a victim of the fallout of the market downturn and is seeing signs of recovery. As of the close today, the stock was trading at $34.49 AUD, down from its yearly high of $38.49 achieved on March 9th.
Current Price: 36.82 AUD
3 Jan 2023 Open: 30.66 AUD
2023 Performance
+3.83 AUD (+12.5%)
Light & Wonder – (LNW)
- Light & Wonder has come off since the SVB news and hasn’t demonstrated signs of recovery. The stock trading volume is down substantially, suggesting a lack of investor interest. The company has struggled to stay in positive territory since reporting respectable Q4 financial results on March 1st, but it still has a long way to go before hitting a year-high of $68 USD on February 3rd. LNW opened down today and is currently trading at $54.34 USD.
Current Price: 54.34 USD
3 Jan 2023 Open: 56.95 USD
2023 Performance
-2.61 USD (-4.59%)
888 Holdings – (888.L)
- Since the last update, 888 has pushed down agaun and is trading at 62.90 GBX. The troubled online gaming/betting company has suffered many setbacks in the last 6 months, with no signs of improvement. Although the company continues with its strategy to expand market share in fewer markets, this game plan has not succeeded thus far. Surprisingly, many market experts are bullish on 888, and think that this may be the bottom and that the share price will rise in the near future.
Current Price: 62.90 GBX
3 Jan 2023 Open: 84.60 GBX
2023 Performance
-21.70 GBX (-26.66%)
Entain – (ENT)
- While Entain started 2023 with positive momentum, the company still faces regulatory headwinds… and recently announced an expected decrease in core profit margins for 2023. The EBITDA dropped 8% in 2022, due to regulatory issues in the UK, and regulations are expected to become more rigid as the industry awaits the government white paper. The share price has dipped almost 8% in the last 2 weeks but is expected to bounce in the coming weeks, bearing any negative market news. The analysts base this expectation on the company’s long-term strategy of diversification, increase of customer base of 7%, anticipated revenue from 5 acquisitions in 2022 and exiting unregulated markets. The stock opened up today and is currently trading at 1,205.65 GBX.
Current Price: 1,205.65 GBX
3 Jan 2023 Open: 1,328.50 GBX
2023 Performance
-122.85 GBX (-9.25%)
Evolution – (EVO)
- Evolution has not been unaffected from external market forces and has dropped 4% in the last 2 weeks. The stock is currently trading 1,209 SEK but is up 17.6% since its January opening price. The company has seen an industry growth of 6.9% over its peers and this is based on its earnings per share. Also, efficient investing has assisted the impressive growth in EPS and has paid out impressive dividends to shareholders. The continual reinvestment of profits has historically demonstrated a high rate of return and market analysts remain positive on EVO.
Current Price: 1,209 SEK
3 Jan 2023 Open: 1,028 SEK
2023 Performance
+181 SEK (+17.6%)
Inspired Entertainment – (INSE)
- Inspired Entertainment has dropped considerably since posting their Q4 report on March 13th. The company missed EPS by $0.13 and dropped 11% on the announcement. Although it surpassed EPS consensus in the previous 3 quarters, it failed to achieve the EPS of $0.29 and has suffered a sell-off in wake of the dismal results. Market analysts are still positive on INSE and shares are expected to gain ground as revenues were up a modest $10.2m USD over Q3. The stock is currently trading at $13.03 USD and is not far off a monthly and yearly high of $15.72 USD.
Current Price: $ 13.03
3 Jan 2023 Open: $ 12.85
2023 Performance
+$ 0.18 (+1.4%)
Disclaimer: This report is for those looking for information on stock market movements related to iGaming gambling share prices via bi-weekly updates. We are not expert traders and do have no advice to offer on whether to trade in iGaming stocks and shares. For expert advice, seek out advice from professional financial experts.
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