From 2024 market open movement is as follows: PTEC.L (+3.95%), ALL.AX (+7.12%), LNW (+8.10%), 888.L (+4.84%), EVO.ST (+9.94%), INSE (-5.18%). (Image by Mohamed Hassan from Pixabay)
Technology and gambling habits are two fields that are always changing.
The growth of cryptocurrency casinos is among the biggest developments of the past few years. Hence, we also create a monthly crypto report. If you haven’t seen the latest report, see the iGaming Crypto Watch February 2024 update.
Why is crypto becoming favoured over fiat currency casinos?
An online gaming site that lets users bet using cryptocurrencies like Bitcoin, Ethereum, and Litecoin is known as a crypto casino. It should come as no surprise that more and more players are choosing cryptocurrency casinos, given the rising acceptance of cryptocurrencies.
What can we anticipate from 2024’s cryptocurrency casinos?
The following are a few major trends to watch out for:
- Growing Adoption of Digital Currency: Players may anticipate a rise in cryptocurrency casinos taking these virtual currencies as more establishments accept them. Many conventional online casinos will probably start accepting cryptocurrency payments in the upcoming years.
- Enhanced Security Protocols: Security is one of gamers’ main worries regarding online gambling. Crypto casinos already use blockchain technology, making them safer than regular internet casinos. To protect player safety and stop fraud, players should anticipate seeing even more sophisticated security measures in place.
- More titles and improved visuals: The need for new games and improved graphics will only increase as cryptocurrency casinos become increasingly popular. Crypto casinos should provide more games in 2024, including more possibilities with live dealers. Furthermore, as virtual reality technology develops, games with VR capabilities are currently very common features in cryptocurrency casinos.
- Tighter Regulation: Governments everywhere will probably impose more regulations on cryptocurrency casinos as their appeal grows. This may entail licensing, tax, and other restrictions to protect player safety and stop money laundering.
- Additional Creative Elements: Lastly, in the upcoming years, online customers should anticipate the introduction of more cutting-edge features at cryptocurrency casinos. This could include features like social gaming, skill-based gaming, and player experiences that are more tailored to them. Cryptocurrency casinos are leading this fascinating sector, and online gaming has a promising future.
The public can anticipate seeing cryptocurrency casinos continue to gain popularity in the coming years due to greater regulation, better security measures, more games and better graphics, increased adoption of cryptocurrencies, and more cutting-edge features. However, whether UKGC and MGA gambling entertainment platforms like 888Casino, 888Sports, 888Poker, and William Hill (all under 888 Holdings) and software providers like Aristocrat, Playtech, Light & Wonder and Inspired will incorporate crypto as a building block for the future remains a mystery. That’s five out six companies mentioned in this report still not adopting crypto tech, while the sixth gambling entertainment firm in this report, Evolution, has configured its entire games portfolio to accept cryptocurrency.
Gambling Company Share Price Reports: The previous report published on 7 February 2024 also covers the same stocks and price changes from 2023 market open and 2024 market open. To compare prices 15 days ago, visit the ‘Gambling Share Prices 2024 – Issue 3‘ update.
Gambling Share Prices Update Feb 2024 – Part 2
Playtech – (PTEC.L)
- Playtech has rallied since the last report and is up almost 8% in the last month. Analysts’ consensus is that PTEC may be currently overvalued, and the stock price’s intrinsic value (true value) does not reflect this inconsistency. Companies with a free cash flow tend to grow, which is not the case for PTEC. The UK-based company lost almost 21% of its share price in the calendar year and is struggling with growing operational costs. The stock is currently trading at 463.00 GBX with resistance at 470.90 GBX. Despite recent good news from Sony Entertainment, Playtech has secured a Braking Bad casino game franchise, and the gaming company also extended a deal to deliver Who Wants to Be a Millionaire game for the next 2 years. For information, visit the ‘Playtech All In On Entertainment‘ news story published here on Casinoplusbonus on 18 February 2024.
Current Price: 463.00 GBX
2 Jan 2024 Open: 445.40 GBX
(+17.60 GBX | +3.95%)
3 Jan 2023 Open: 506.50 GBX
(-43.50 GBX | -8.59%)
Aristocrat – (ALL.AX)
Aristocrat – (ALL.AX)- The Australian pokies and gambling machine giants’ share price has crept up incrementally over the last year, achieving a yearly high of 44.91 AUD early this week and just off an all time high of 48 AUD, however it has dropped off slightly. ALL.AX currently trades on the Aussie stock market at 43.49 AUD. The company has successfully expanded in the U.S. and shifted their focus to mobile video games and social casinos. The mobile gaming division currently accounts for approximately 42% of their overall revenue.
Current Price: 43.49 AUD
2 Jan 2024 Open: 40.60 AUD
(+2.89 AUD | +7.12%)
3 Jan 2023 Open: 30.66 AUD
(+12.83 AUD | +41.87%)
Light & Wonder – (LNW)
- Light & Wonder’s continuous growth could be attributed to its stable growth fundamentals – low debt, profitability and visibility in the market. Since the last earnings call, the company has revised their EPS expectations upwards, driving up the stock price. Analysts have stated that this trend will continue in the medium term and then pull back and level off unless they sign more strategic partnerships in their ongoing expansion. LNW continues to hit all time highs in 2024 and hit an all time high this week of 90.57 USD, but has pulled back slightly since to 88.17 USD. The company continues to grow, and this is evident in our latest news report ‘Light & Wonder Forges New Partnerships‘. In particular, a news deal with 1×2 Gaming that takes Light & Wonder games into Michigan.
Current Price: 88.17 USD
2 Jan 2024 Open: 81.56 USD
(+6.61 USD | +8.10%)
3 Jan 2023 Open: 56.95 USD
(+31.22 USD | +54.80%)
888 Holdings – (888.L)
888 Holdings – (888.L)- 888 Holdings’ share price has done very well since the start of February and is up 9%. The troubled company is still up 26% year-on-year but has been in a horizontal trend for the last week. On February 15th, 888 agreed to pay the Gibraltar Gaming Commission a settlement of £3m for KYC and EDD (Enhanced Due Diligence) failings. The KYC issues were that address details were not taken/recorded correctly, the EDD checks were not carried out quickly enough, and suspicious accounts were not flagged. On the other hand, the company dampened news of more fines as it expanded into the Irish horse racing market. See the ‘UK William Hill Expands in Ireland‘ news report for the full report. The company is trading at 95.40 GBX.
Current Price: 95.40 GBX
2 Jan 2024 Open: 91.00 GBX
(+4.40 GBX | +4.84%)
3 Jan 2023 Open: 84.60 GBX
(+10.80 GBX | +12.77%)
Evolution – (EVO.ST)
- The class action suit by investors against Evolution has not stopped the share price from rising. The company is under investigation for making false or misleading statements (EPS and growth strategies) to investors between 02/2019 and 11/2023. Since filing the suit, the share price is up 20% and close to 2023 highs. The stock price has benefitted from its businesses in South East Asia where the company received 33% of its overall revenue. The stock is currently trading at 1,338.40 SEK with resistance at 1,340 SEK and weak support at 1,282.60 SEK.
Current Price: 1,338.40 SEK
2 Jan 2024 Open: 1,217.40 SEK
(+121.00 SEK | +9.94%)
3 Jan 2023 Open: 1,028.00 SEK
(+310.40 SEK | +30.20%)
Inspired Entertainment – (INSE)
- Inspired Entertainment is also under investigation for not filing their Q3 2023 financial report. Nasdaq has agreed that the INSE case has to be resolved this month and the deadline for submission is February 28th, 2024. Additional financial irregularities dating back from 2021 to 2022 shouldn’t be relied upon, stated a Nasdaq spokesman. The share price has fallen 39% in the last year and is currently trading at 9.33 USD.
Current Price: 9.33 USD
2 Jan 2024 Open: 9.84 USD
(-0.51 USD | -5.18%)
3 Jan 2023 Open: 12.85 USD
(-3.52 USD | -27.39%)
Disclaimer: For those of you that are looking to invest in iGaming stocks, please seek professional advice from a broker from a platform that specialises in trading. As for the information and any opinions on this page, they are not for investment advice.
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