Catch up on the latest iGaming Stocks & Shares Week 47 report with Aristocrat, Entain, 888 Holdings, and Light & Wonder all in the running. (Photo by Michael Steinberg on pexels.com)
Thanks to popular demand, you get to full yourself in on the latest iGaming stocks and share prices. Once again, we’ll be covering software providers and reputable online casinos with companies operating on the London Stock Exchange, Australian Stock Exchange and NASDAQ.
Big brand names floating on major stock markets around the globe are perhaps some of the most stable stocks out there right now as the online gambling scene has proven resilient time and again in the harsh world of financial downfalls.
In particular, there is the looming recession and obscene inflation hikes which have come right after the pandemic and then the conflict in Ukraine. Not only that, a crash over in the world of cryptocurrencies tends to affect stock prices.
With all that being said, it seems that iGaming stocks are still suffering from the current financial fallout but there are also still some positive gains to report in amongst all the doom and gloom.
FTX Fallout & Marginal Gains Highlighted as Market Uncertainty Looms
It would appear that the fallout of FTX and the decline of Bitcoin has affected the technology-based industries, and this includes the iGaming industry. Many of the iGaming stocks such as are in a slump today or seeing marginal gains. This financial/technological crisis has created a lot of uncertainty in the entire market. As we move into December, which is historically a very volatile month, we could see stocks push even lower as the year comes to a close. Could the iGaming industry buck this tradition and see large gains as we near 2023?
Let’s take a look at the performance of some of the live casino stocks:
- Playtech (PTEC.L) – Playtech is still down almost 26% since January but has bounced back 3.6% in the last month but has been flat for the last two weeks. The stock did get a bit of a boost with the announcement of a partnership with BetVictor and will provide content to all BetVictor brands in the UK. It is currently trading at 543.88 GBP and is looking bearish and still may be adjusting to the new appointment of the CFO on November 1st and the future plans he may have for the company. You can read more about the Playtech casino software provider here.
- Aristocrat (ALL) – Aristocrat released its full year 2022 results last week and the stock dropped 8% on the announcement. Although the company has been successful with its expansion strategy (market share gains/emerging markets) in 2022, it has suffered lower growth in profit/bookings from one of its major partners and this is expected to decline. ALL is currently trading $35.79 AUD and it would seem that earnings growth is concurrent with the yearly returns which appear will affect short-term stock price increases.
- 888 Holdings (888.L) – 888 is down 67% since the start of 2022 and it looks like this trend will continue. Although the gaming company has launched many new innovative games, casino content and opened new markets, it doesn’t seem to be helping the top line. The company continues to lose share price and although it rose 12% in the last month, it has lost almost half of those gains in the last 2 weeks. It is currently trading at 98.70 GBP and it appears it will continue its downward trend.
- Light & Wonder (LNW) – Light and Wonder continues to defy the other companies that occupy this particular industry. Where other iGaming stocks have lost 30% to 67% of their value since the beginning of 2022, LNW has only lost 5% of its share price! LNW has increased in share price for the last 6 months and has had strong gains in the last couple of weeks… almost 15%!! The stock is trading around $63 USD and needs to breakthrough $64.13 USD to continue its push upwards.
- Entain plc (ENT) – Yesterday Entain was granted gaming and poker licenses for all of Germany for the next 5 years. This will enable ENT to provide all gaming, online betting and online poker, which is a first in Germany. This announcement did not push the stock upward… it opened lower but is now trading around 1,360 GBP. Whether recent news restricting sports advertising on Entain in Australia will have a negative on stock prices remains to be seen.
- Evolution (EVO) – EVO is another iGaming stock that has performed very considering it’s peers in the industry. It is down 21% from January 2022 and has made modest gains since then. At the time of writing, the stock was trading at 1,012 SEK and needs to breakthrough 1,016 SEK to breakout to new highs.
Diclaimer: This iGaming Stocks & Shares Week 47 2022 is only here for guidance only. The prices were correct at the time of writing and will have changed already as global stock markets carry out normal business activities, open, and close. We never suggest whether you should invest in any of these stocks and leave the decision to do so entirely in your hands. For the latest stock prices, check out Yahoo Finance here.
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