iGaming Stocks & Shares Watch (Issue 9 2022)

iGaming Stocks Watch Issue 9 (13-26 April) looks at how the market has performed for the middle of April. More slumping means more opportunity? (Image by Wance Paleri at unsplash.com)

Following on from our iGaming Stocks and Shares Watch (Issue 8) which noted a massive surge in price for 888 Holdings, as well as significant gains for LeoVegas, the last two weeks have been difficult for multiple sectors, and as a result, prices have dipped all across the board. But how about the iGaming industry? Were 888 Holdings and LeoVegas stocks able to continue increasing in value, or have they too succumbed to the pressures of the market? Also, how have Entain, Aristocrat, SGMS, Playtech, and Evolution reacted to the current climate? Here is what happened between 13-26 April.

888 Holdings (888.L) 888 Holdings investors might well be feeling a little bit disappointed with the market performance of the past couple of weeks. All of that hard work which saw the price per share skyrocket by more than 20% has been undone. We left the stock last time at a price of 213.20 GBX, but fast forward 2 weeks and you will see it priced at 185.90 GBX. A real fall from grace, it may seem. It is not all bad news though, as what potential investors can learn from this is the sheer amount of movement capability this stock has. Right now, the stock is trading at around 64% below fair value according to expert analysts.

Aristocrat (ALL) Aristocrat has been going through an April rough patch. This stock was priced at 32.78 AUD on the 12th of April, and since then there have been further declines, but at a much slower rate. Just like the majority of the market, Aristocrat is struggling right now, but its price is putting up a tough fight. As of the 26th of April, one ALL stock will cost 32.35 AUD. Current investors will take comfort in the fact that the rate of the decline has slowed, which would indicate a strong level of support for Aristocrat.

Entain plc (ENT) 1539.50 GBX was the price that one share of Entain was on April the 12th, and there have been further declines since. In the past 6 months, Entain has dropped around 28% in value. Its price at the end of trading on Tuesday was 1474.50 GBX. Analysts have projected a strong future for Entain, which could well make this a solid long-term investment, with some analysts offering a high 12-month price target of 2700.00 GBX. That would be one great investment, and would easily clear away the losses of the past 6 months.

Scientific Games (SGMS) SGMS had gone through a brief price surge, as we reported in our previous report, but then it saw those gains wiped out. The past 2 weeks have seen the stock behave in almost an identical fashion. From 57.66 USD on the 12th of April, the price shot up to 62.69 USD by April 19th. Since then, the price tumbled to 58.71 USD, then back up to 60.99 USD, and finally closed at 57.38 USD on the 26th of April. Looking at the SGMS 1 month graph, it looks like a map for a big dipper rollercoaster.

LeoVegas (LEO) 39.80 SEK is where LEO was at last time following an exciting increase in price for investors. The big question was, was the stock able to at least hold its ground to give itself a solid position from which it could begin a convincing upward trend? Well, the answer to that was a resounding ‘yes’, and investors will be even happier with what they have witnessed in the past couple of weeks. From 39.80 SEK, LeoVegas found a strong level of support at 38.80 SEK, and pushed on from there. It levelled off around 40.20 SEK, then found more support at 39.40, and has since pushed on to a price of 39.86 SEK (26 April). This is a textbook sign of strength. What is even more impressive is that LeoVegas is 25% up over the past 6 months. Could this continue?

Playtech (PTEC.L) Following a bit of a slump, Playtech was priced at 589.00 GBX on the 12th of April. When you consider that Playtech Casinos are regarding as one of the best available, this stock clearly has a lot of potential, so it seems like just a matter of time before the tides start to turn. Investors may have to wait a little while longer for that to happen, it would seem, as the past 2 weeks have not been overly kind to them. So much so that it hit its lowest price of 2022 on the 22nd of April, with a price of 547.00 GBX. The signs are showing that there could be more of a dip yet to come, but lower prices make for bigger future returns.

Evolution (EVO) Evolution has been fairly resilient of late, and we left it just as it had fallen below 1,000 SEK, to a price of 991.10 SEK. Since then, EVO stock has fallen even further, and gone as low as sub-900 SEK, falling to a price of 897.80 SEK on the 26th of April. Like Playtech, that is the lowest price that Evolution has been this year. It is hard to imagine not seeing a bounce from this point, as traders recognise such great value which will bump the price up. We will see what happens, and no doubt report about it in our next iGaming Stocks & Shares Watch.