Bright news for iGaming stock investors in Entain, Aristrocrat, L&W & Evolution. However, 888 Holdings stocks continue to crumble – full report! (Photo by Anna Nekrashevich on pexels)
The iGaming industry has had its share of good news and bad news since the start of 2023. It faces headwinds from regulators, compliance issues, inflation, interest hikes and government macro-economic reports. These factors can rapidly effect stock prices and companies have to scramble to alleviate these negative circumstances.
On the positive side, the industry had made huge jumps forward in AI. Some companies have embraced AI and VR and implemented these systems, which include the Metaverse. Payment channels/options, security of systems and use of digital coins have also made considerable leaps because of technology.
This week the iGaming report includes Aristocrat, Evolution, Light & Wonder, 888 Holdings, Entain and Playtech. The report will look at the last couple of weeks and try to identify where they may be headed.
Looking for previous iGaming Stock Prices? This is the third issue of the year so far, and you can find more info about the previous two reports via the iGaming Stock Prices 2023 (Issue 2) here.
What Happened in the latest iGaming Stock Prices 2023 (Issue 3)?
It is a busy period for the accounting teams and analysts as most iGaming companies are beginning to publish their yearly performance reports publicly. Also, there have been some shifts in high level positions, most notably news of 888 CEO Itai Pazner stepping down. On top of this, 888 Holdings are taking a bow out of the Middle East due to compliance issues – it looks like this could be the cause of a huge drop in stock prices.
Playtech – (PTEC.L)
- As the impending 2022 yearly financial report looms, analysts expect PTEC to post strong earnings. An impressive revenue rebound is being credited to results from its B2B businesses and partnership with Snaitech. EBITA is expected to climb to 26%, resulting in a 73% increase in revenue to €792.3m. The 2022 sale of Finalto has also contributed to its positive financial coffers. PTEC opened down today but is up 5% in the last two weeks and is currently trading at 561 GBX.
Current Price: 561 GBX
3 Jan 2023 Open: 506.50 GBX
2023 Performance
+54.50 GBX (+10.76%)
Aristocrat – (ALL)
- ALL is massive in the slot machine market and currently boasts a 20% share in the U.S. With its dominance in the market, analysts believe that Aristocrat could pursue acquisitions that will expand its digital share/footprint globally. Over the last few years, ALL has returned solid quarterly results, possesses a solid balance sheet and substantial liquidity, signaling possible buyouts. While the last 2 weeks of trading were lackluster, the stock has gained 11% in the last month and is currently trading at $33.96 AUD.
Current Price: 33.96 AUD
3 Jan 2023 Open: 30.66 AUD
2023 Performance
+3.30 AUD (+10.76%)
Light & Wonder – (LNW)
- LNW has made incremental gains in the last month. This could be attributed to insider buying… insiders bought more stock than they sold. It should be stated that these transactions do not signal long-term investing but it is a positive sign, if LNW executives are buying. The stock is up almost 9% in the last month but has moved horizontally in the last 2 weeks. LNW is currently trading at $63.26 USD and is not far from its yearly high of $68.84, realized back in November 2022.
Current Price: 63.26 USD
3 Jan 2023 Open: 56.95 USD
2023 Performance
+6.31 USD (+11.08%)
888 Holdings – (888.L)
- The troubled 888 Holdings, the operator behind 888Casino (reviewed here), William Hill and Mr Green, is not about to change its sliding stock price anytime soon. The stock price plummeted 29% on January 27th, its biggest intraday loss since 2010. The cause of the crash was over compliance issues with VIP accounts (which were suspended indefinitely) in the Middle East. The CEO has since resigned and an investigation into money laundering has begun. The troubled iGaming company was scheduled to lose its CFO at the end of March, but it has been announced he will remain at 888 until the end of 2023. Prospects for the company look bleak for the near future but if a strong CEO can be secured quickly, the company may be able to turn things around rapidly. The stock opened down today and is currently at a new yearly low of 70.84 GBX.
Current Price: 70.84 GBX
3 Jan 2023 Open: 84.60 GBX
2023 Performance
-12.76 GBX (-16.26%)
Entain – (ENT)
- Entain announced several months ago that it would pullout of markets that weren’t regulated… grey markets that are currently in the process of regulating. A recent example is Brazil, where government legislation has failed many times to regulate the industry, even though sports betting is a national pastime. ENT has had great success in regulated countries, apparently 99% of its revenue. Will this move to leave unregulated markets start a chain reaction with other operators following suit or perhaps speed up the process of regulation as these countries don’t want to lose their share?? Time will tell… The last couple of weeks has seen ENT rise almost 5.5% and is currently trading at 1,517 GBX and is not far off reaching its previous yearly high of 1,725 GBX.
Current Price: 1,725 GBX
3 Jan 2023 Open: 1,328.50 GBX
2023 Performance
+396.50 GBX (+29.85%)
Evolution – (EVO)
- Evolution AB continues its horizontal direction with no sharp positive or negative movements. Although EVO reached a yearly high of 1,180 SEK last week, it has come off and is down 1.5% in the last 5 days. The stock opened down today and at the time of writing was trading at 1,159.40 SEK.
Current Price: 1,159.40 SEK
3 Jan 2023 Open: 1,028 SEK
2023 Performance
+131.40 SEK (+12.78%)
Disclaimer: This report is not for trading or for anyone to make a decision on whether to buy stocks. It is in the interest of our readers who gamble at online casinos and would like to know how certain companies are performing financially.
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