Our iGaming Share Review (19-31 January)

Our iGaming Share Review (19-31 January) looks in depth at the market performance of an exciting month for investors in gambling stock! (Image by Markus Spiske at unsplash.com)

The stock market as a whole has suffered a difficult January month. Share prices in gaming stock endured a tough month, as was expected when we reported it in our previous share report. But how did the rest of the month go? We looked into it, and the rollercoaster ride continued, with some stocks having a better time than others.

888 Holdings (888.L) It turned out to be a difficult month for the 888 stock price having started the month in a positive fashion. Notably, in the past 2 weeks, 888 hit a 6-month low of 266.40 GBX on 18th January and then continued to slump to 244.20 GBX on January 25th. The stock price finished the month at 255.00 GBX, which represents a 6-month loss of 30%, and even more since the September highs of 458.00 GBX. Investors will now hope that the bottom has been touched, and they can look forward to a steady rise back to its fair value. Experts are saying that right now 888 stock is currently trading at 54.2% of its fair value. Could this be a good time to invest? Only time will tell.

Evolution (EVO) Investors of this stock were excited to see it touch 1286 SEK on 20th January, with many believing it could go past the monthly high of 1288 SEK (14th January), however, resistance proved to be the winner, and the stock fell to 1083.20 SEK by January 27th, which was surprising, as just a day earlier, the Swedish company announced that it had launched the new and unique dice game, Bac Bo. Investors may have heard the news late it would seem, as the stock duly rose past the 1100 SEK price, to finish the month with a value of 1135.40 SEK.

Aristocrat (ALL) It’s a whirlwind at Aristocrat Leisure, as it hangs in the balance with its purchase of Playtech. The Australian gambling machine manufacturer has seen its stock price hit a 6-month low when it touched 38.62 AUD, which is a huge dip on the start of the month when it was priced at 45.39 per share, which represents a 14.91% loss in value. The share price clawed its way back to 40.35 on January 31st after its uncharacteristic dip. Aristocrat has historically been a stable stock, so investors will be confident of those days returning. However, the stock is up 26% for the year, so there can’t be too many complaints.

LeoVegas (LEO) Having started the month off terribly with a 10% decrease, LeoVegas finished the month on a high note. From being valued at 31.46 SEK on January 25th, the share price value jumped to 33.74, breaking strong levels of resistance on the way. It looks as though LeoVegas stock will be testing the next level of resistance in the coming days, which is 34.70. It could well be a talking point on our next issue of, iGaming Stocks & Shares Watch.

Scientific Games (SGMS) In an up and down month, Scientific Games finished at a price of 57.70 USD which represented a loss of almost 7 USD per share from 64.44 USD. A loss of 10.46% is not what shareholders would have wanted, especially when the company does not pay a dividend. They were slightly more concerned however when the stock hit a 6-month low at 54.83 USD on 28th January, so finishing the month by knocking on the door of 58 dollars will bring a huge sigh of relief.

Entain plc (ENT) January has concluded and the month was marked with a disappointing 5.69% decrease in share price for Entain plc. The lowest point of the month came just last week (25th January) when the stock took a nosedive and hit 1521 GBX. That seems to be the point of strong support, as its share price showed healthy gains to finish the month trading at 1591 GBX, and moving in the right direction towards the next resistance level of 1724 GBX.     

Playtech (PTEC.L) Another stock that is potentially good value right now is Playtech. According to expert sources, this stock is 29% below fair value. The stock appeared to fall off the metaphorical cliff on January 20th, as the price took a dive from 730.50 GBX to 579.50 GBX following the news that F1 tycoon, Eddie Jordan, pulled out of the race to buy the company. The question still looms about how genuine Jordan was of his interest, with many saying that it was possibly a publicity stunt. There is one thing for certain though, Playtech is the subject of a bidding war, and it seems that it is only a matter of time before a takeover is complete.