iGaming Stocks Watch Issue 7 (16-29 March) looks at the continuing market performance of gambling shares for the second half of March 2022 (Image by Annie Spratt at unsplash.com)
Following on from our previous iGaming Stocks and Shares Watch, we were hopeful that a new trend was starting to form after enduring quite a difficult first quarter period of 2022. There were certainly signs there, but as we all know, the signs of stock price movement can often be misleading. So, what did we find out over the past 2 weeks? Have those good investment opportunities gone, or are they still there? Here is a roundup of the stock price action.
Scientific Games (SGMS) SGMS is usually where we start because there has been so much happening with them. This time we are happy to report that SGMS has had a good solid 2 weeks. We left last time with the price of SGMS at 59.24 USD and highlighted a key price point of around 66.14 USD. This price could prove to be a make or break for the stock, as support could overpower resistance and see the stock reach new short-term highs, or resistance could prove too strong and we could be seeing a big dip. Well, there are sure signs that a good amount of support is building, and the price sits at 62.33 USD. We are guessing that in our next stocks and shares watch report we will be able to say if the stock is on an upward trend or yet another downward trend.
888 Holdings (888.L) 888 Holdings ended business on March the 29th with a stock price of 192.70 GBX. This represents not a bad little phase for 888 investors, and as we reported last time out, having a dividend payment is sure to make the stock that much more appealing. Investors may have to wait until October to receive that dividend, but dividend investing is about the long game, so that should not be any kind of deterrent. So we have seen the price increase from 189.70 GBX (15th March), to a much more pleasing 192.70 GBX. A small gain, but positive steps for sure.
Aristocrat (ALL) The steady Australian stock hardly ever lets us down, even in the face of bad news. This week is no different, and we have seen make yet more gains to a price of 37.08 AUD (29th March), from 35.63 AUD (15th March). It seems like this stock has now well and truly forgotten about its mini blip at the beginning of the month, and now it is looking to make positive upward movements.
Entain plc (ENT) Entain has certainly been keeping its many investors on the edge of their seats just recently. Earlier in the month, we saw quite a heavy correction, but that was swiftly followed up with strong gains to help ease any doubts that investors had. Last time out, following the ‘healthy’ correction, Entain sat at 1564.50 GBX (15th March). Fast forward 2 weeks, and we now see a price of 1670.50 GBX. The £1+ increase came in just 1 week after we left it, just as we predicted when we said an upward trend was forming. Excellent work indeed. We are seeing a flat line now on the graph, and a March 29th price of 1670.50 GBX. As with any flat line, it is hard to predict which way it is going, so this stock is definitely one that we will be keeping an eye on. Following news like Entain investing £100m in Ennovate, we could be seeing much more from this stock.
LeoVegas (LEO) 35.54 SEK was where we left LeoVegas on the 15th of March. This stock is historically very up and down, but over the past 2 weeks, it has made consistently positive upwards movements. As of 29th of March, LEO is trading at 37.38 SEK. A lot of investors will have appreciated the break from volatile movements, especially with such a positive one like this.
Evolution (EVO) Evolution is one of the biggest names in iGaming, and as such, it has historically been a great long-term investment. It has been a little different since October 2021, as the stock price has struggled. But is there light at the end of the tunnel? A long-term investment is all about the strength of a company and its ability to sustain the market. They don’t come much better than Evolution, so we are feeling positive that the good times will roll once more. Over the last 2 weeks, we have seen the price go from 965.60 SEK (where we expected it to improve from) to 1027.80 SEK at the close of business on March the 29th. Good solid movements there from Evolution, and hopefully the start of something bigger.
Playtech (PTEC.L) 604 GBX is the price where we last left Playtech, and the last couple of weeks have proved to be pretty uneventful for this stock in all honesty. At a price of 602.50 GBX (29th March), there has been little activity to note, although the price did take a mini-injection when it rose to 630 GBX on the 18th of March.
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