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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Entain Plc | ENT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 9.00 | 1.41% | 649.00 | 16:35:18 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 639.40 | 638.60 | 650.80 | 649.00 | 640.00 |
| Industry Sector |
|---|
| TRAVEL & LEISURE |
| Top Posts |
|---|
Posted at 16/7/2024 06:37 by italianofacile Most investors would agree MGM want and need the other half of Betmgm..19 more years of sharing the US igaming and SB market is not going to work for MGM on so many levels ..however it's quite possible for Entain to keep MGM at bay..in that scenario MGM have few options,one of which is to bid for Entain ..MGM are between a rock and a hard place.Entain in a hard place .something will give..when and what anybody's guess.. |
Posted at 05/7/2024 07:58 by drk1 Positive note from Berenberg this morning -"Entain looks cheap - Entain (ENT) is facing several headwinds, which have been reflected in the shares, but Berenberg says the company is cheap given its transformation plan. Analyst Jack Cummings retained his ‘buy’ recommendation and target price of £11.40 on Citywire Elite Companies + rated gambling group, which inched up 0.2% to 633.2p on Thursday. Shares in the owner of Ladbrokes and Coral have fallen 36% year to date and Cumming said that he understood the hesitancy of investors ‘to own the shares given the lack of a permanent chief executive, consistent earnings downgrades over the past 18 months, and elevated leverage that will remain over three times in the next few years’. However, he said the valuation of full-year 2024 is 18.3 times the price to earnings and 12.6 times full-year 2025 means that the shares ‘remain cheap’. ‘As we move through what is a transition year for Entain, we continue on a path to solid growth, robust margins and good cashflow generation,’ Cummings said" |
Posted at 27/6/2024 13:36 by tas11osc In their monthly update issued on 11 June AVI Global Trust (AGT) said this:"Entain was the most significant detractor, with the shares declining -14% in May. During the month the company's capital allocation committee provided an update to the market. For investors expecting major asset sales or changes this was something of a damp squib, with Crystal Bet in Georgia the only asset to be sold. We believe patience is needed as steps taken over the last year start to pay off, and that improved fundamentals - both for Entain's wholly owned assets and at BetMGM - will open up numerous paths to unlock and grow value. Other investors are seemingly losing patience, and we have been modestly adding to the position. We note that several board members have been buying shares in the market and like our alignment of interest with several thoughtful and engaged shareholders" |
Posted at 15/6/2024 21:14 by srpactive Well MGM offered 1385p, the city keep talking entaindown as they have been for years. The board has said no more spending so they will concentrate on the existing business and cost cutting. This will take a little time, but with £1bn operating profits we could already be on our way turning things around. The board buying will hopefully support this. The 2600p draftkings bid was turned down due it undervaluing Entain. The move is still to suppress Entain, what investor would just a day after the temp ceo buys say they are looking to upset the apple cart, not a very good one or long one. It is obvious and has been for years, any good news and it is followed swiftly by a negative release by someone somewhere. We will have our day one day again, just need a very high profile US investor to go long. dyor |
Posted at 13/6/2024 17:34 by loganair On Wednesday (11 June) law firm Fox Williams announced it was seeking to recover more than £100m in compensation for the operator’s institutional investors.Entain Plc is facing a pending lawsuit aimed at compensating institutional investors affected by the FTSE100 firm’s £585m penalty related to a bribery investigation of its former Turkish business by HMRC. The claim against Entain is being prepared by Andrew Hill and Matthew Reach, the litigation team of London law firm Fox Williams, “on behalf of institutional investors, targeting autumn 2024.” A claim period has been launched by Fox Williams, accusing Entain of failing in its regulatory duties to report bribery and corruption charges related to its Turkish subsidiary, Headlong Limited. It is asserted by the litigation that Entain shareholders are entitled to compensation for transparency failures, as section 7 of the UK Bribery Act 2010 was violated by Entain. Section 7 states that “a company can commit an offence under section 7 of failure to prevent bribery if an employee, subsidiary, agent or service provider (‘associated persons’) bribes another person anywhere in the world to obtain or retain business or a business advantage.” “This claim will allow institutional investors to recover substantial losses." Responding to questions from iGB, Fox Williams said it was anticipating the compensation to total more than £100m (€118.3m/$127. |
Posted at 13/6/2024 17:28 by loganair Mark Kleinman: Entain’s new CEO will be gambling with career:Talk about a glutton for punishment. I hear that Entain, the FTSE-100 gambling group, is on the brink of putting its chips on its next chief executive. Industry sources tell me that the anointed individual won’t be Henry Birch, the former Rank Group and Very Group boss, who made it to the final stages of the recruitment process. For the moment, the identity of Jette Nygaard-AndersenR Make no mistake: Entain is in a mess. From huge compliance failings to misguided takeovers, the company has become the gambling equivalent of Royal Bank of Scotland 15 years ago. Its share price has fallen by more than 40 per cent over the last year, and by even more since it rejected a takeover bid from MGM Resorts in 2021. Little wonder, then, that shareholders are shedding few tears over the departures of either Nygaard-Andersen or Barry Gibson, its chairman. Leading investors want its new leadership to restore the stock market’s confidence in the company’s ability to deliver against its targets each quarter without a nasty surprise. Entain’s travails have drawn the attention of a string of activist investors, with Eminence Capital’s Ricky Sandler joining its board in January. Others lurk in the shadows, as well as in plain sight. One shareholder said the perception of both the industry and fund managers is that Entain has run out of growth outside the US, while it faces losing out to Flutter Entertainment and DraftKings in the US. The company has been trying to accelerate its clean-up, firstly by agreeing a £615m settlement over its failure to prevent bribery at its Turkish operations; and secondly by outlining potential disposals of non-core assets alongside exits from unregulated markets. Investors don’t appear to believe, though, that either of those priorities can be executed smoothly while also restoring growth to the pace shown by industry rivals. Whoever lands the top job will also be taking a massive gamble – with the fate of Britain’s best-known bookie, and their own career. |
Posted at 16/3/2024 09:36 by loganair Beyond its dire results, Entain was shocked by a year of negative headlines, revealing leadership conflicts and investor doubts, as noted by Paul Richardson, Partner of global gambling M&A Advisory Partis Solutions.“Unfortunately for Entain 2023 was characterised by what seemed to be a never ending sequence of bad luck and bad news.” Richardson said. “Coming on top of the HMRC settlement and the advent of activist investors onto the register, management’s credibility was further undermined by the devastating article which appeared in the Financial Times – ostensibly from well informed disgruntled insiders.” Recognized in the investor update, Entain faces a precarious situation in which its corporate recovery hinges on rejuvenating its investment strategy aimed at enhancing its core market performance and improving tech integrations. Noted as a steep challenge for a PLC that has grown to date via an aggressive M&A playbook, as Ivor Jones detailed: “Management has to convince shareholders that the refocusing of investment in product and marketing in core markets has not come too late to stop the rot.” Furthermore, City analysts opine that the underlying leadership conundrum and strategy must be addressed to execute a recovery, as Paul Richardson noted: “A real issue for Entain this year has been the brain drain of top talent. The under-performance of the core businesses such as Bwin has perhaps unfairly pushed the spotlight onto the success of the M&A strategy with more pressure for instant wins.” Consecutive M&As have obscured the reality that Entain has not successfully integrated its brands and platforms—a fact laid bare by the company’s admission of lagging performance in its UK apps and declining market presence in Brazil.” Shrinking an Unsustainable Portfolio: As 2024 unfolds, Entain’s corporate governance states a ‘laser focus on corporate recovery’ in which it has assigned a Capital Allocation Committee to begin its review of disposable assets of an unsustainable portfolio spanning 35 individual brands. However, the initiative of shrinking the portfolio will once more highlight the flaws of Entain’s growth strategy and its likely discounted impact on the valuation of individual brands. As noted by Richardson: “You might expect them to sunset brands, but it’s easier said than done. Historically, Entain has operated a strategy of localised brands across markets with little-to-no-integra Peel Hunt views the shrinkage as a blunt measure required to reorganise Entain: “The focus required in core markets implies less attention being paid to peripheral businesses, even large ones if they are not integrated onto the core technology platform. “There will be disposals, probably of businesses which require the most time and/or cash investment to realise their potential.” |
Posted at 18/12/2023 00:22 by pj84 Entain is definitely in play and this time the activist investors are more likely to decide Entain's fate than Entain.This is the the link referenced by srpactive The Sunday Times: The Ladbrokes and Coral owner Entain is to appoint an activist investor to its board as it fights to quell a growing shareholder rebellion. A few snippets from the article ... "Sandler, founder of Eminence Capital, is expected to be unveiled as an Entain director by the end of the year, according to sources familiar with the situation. Eminence owns about 5 per cent of Entain and is one of four activist investors to have emerged on the company’s share register this year." ... "Entain’s other activist investors include Sachem Head Capital Management, Dendur Capital and Corvex, the latter of which disclosed a 4.4 per cent stake last week. Corvex is run by Keith Meister, a former deputy of the billionaire activist investor Carl Icahn. Corvex said that Nygaard-Andersen&rsq City sources said that Entain had ruled out appointing Meister to the company’s board because of a conflict of interest. He is on the board of both MGM Resorts and the joint venture BetMGM and would be conflicted should any corporate activity with the two entities arise, they explained. Entain declined to comment. Eminence Capital did not respond." |
Posted at 29/11/2023 15:35 by loganair Salix Research:Ongoing Activism - Entain has attracted growing investor concerns as two other US-based activist investors (in addition to Ricky Sandler’s Eminence Capital): namely Sachem Head Capital Management (founded and led by Scott Ferguson, ex-Pershing Square) and Dendur Capital have accumulated shares and expressed their disapproval of the current CEO’s performance. According to persons familiar with the situation, it is likely that the CEO will be dismissed soon, and activist investors prefer Mr. Sandler to be appointed to one of the board seats and also help with scouting the new board members. While there is no public statement on this, we would certainly view this development positively. We believe a team of seasoned activist investors with a successful track record could certainly help turn things around and unlock value for shareholders at Entain. We are currently neutral on the CEO, but if Entain keeps disappointing any further, we believe a new CEO will be needed. More pressure from activists would be necessary if the board doesn’t act accordingly in that instance. Risks - Risks include but are not limited to a potential failure of the management team to turn the company around, continued operational underperformance, lower/no growth for longer, deteriorating macroeconomic conditions, slower adoption in the US, market share losses in the US, adverse regulatory changes, penalties on legacy operations in unregulated countries, suboptimal capital allocation, etc. |
Posted at 22/11/2023 17:02 by speedsgh Activist investors pile pressure on Ladbrokes owner Entain - Hedge funds take aim at chief executive of UK gambling company Entain faces growing investor unrest after two more US activist hedge funds voiced concern over the gambling group’s languishing share price and the ability of chief executive Jette Nygaard-Andersen to revive the FTSE 100 company’s performance. New York-based funds Sachem Head Capital Management and Dendur Capital have built positions in the owner of Ladbrokes and Coral brands, according to five people familiar with the situation. They join Eminence Capital, a Wall Street activist that also owns a stake and went public with its grievances in June. The activists are concerned about flagging sales in Entain’s core markets, including the UK, where regulators have cracked down on the online betting industry, as well as a series of management mishaps and costly deals, the people said. The highest-profile of these was an equity raise this summer that helped fund the takeover of a Polish gaming company but hurt Entain’s share price. After 23 straight quarters of double-digit growth in online revenues, Entain in September warned it expected a “low single-digit per cent” fall in pro forma online gaming revenues this year. Its share price has tumbled this year by more than a third to a three-year low. By contrast, the share price of rival Flutter has climbed 11 per cent this year. The activist investors have met regularly with Entain’s top executives in recent months. Nygaard-Andersen has become a lightning rod for criticism. A former non-executive director at Entain, with little experience in the gambling sector, she was drafted into the top job in January 2021, after her predecessor suddenly quit during a takeover bid. One person familiar with the activists’ thinking said Entain had suffered from “a lot of self-inflicted wounds”. Shareholders had “lost faith” in Nygaard-Andersen and would seek her removal in the coming months, they added. Entain earlier this month pledged to install four new non-executive directors to its board to fill gaps following departures this year. The activists want Eminence’s founder, Ricky Sandler, appointed to the board and to have a role in filling the outstanding vacancies, according to people familiar with their thinking. In a statement to the Financial Times, Entain said it was “committed to constructively addressing any questions or concerns” of shareholders, adding that it recently laid out “a clear plan” to expand the business organically, improve margins and win market share in the booming US betting market. A person close to Entain pointed to the re-election of Nygaard-Andersen with more than 99 per cent of shareholder support at the group’s annual general meeting in April. Sachem Head, Dendur and Eminence all declined to comment. Under Nygaard-Andersen, Entain has made 11 bolt-on acquisitions of gaming companies, with varying degrees of success. In June, Eminence published a letter criticising Entain’s decision to raise £600mn of equity to help bankroll the £750mn takeover of Polish betting operator STS. The share price slump has pushed Entain’s market capitalisation to £5.2bn, well below the value of 2021 takeover offers the group received from Las Vegas-based casino group MGM International and Boston-based sports betting operator DraftKings. A person close to Entain said its response to the bids had been driven by shareholders’ feedback. Eminence first took a stake in Entain in late 2020 and now owns between 4 and 5 per cent of the stock, according to a person close to the firm. Sachem Head and Dendur bought stakes following the flurry of takeover approaches in 2021, betting that the FTSE 100 group would attract more suitors. The pair’s shareholdings are below the UK disclosure threshold of 3 per cent. Entain’s chair Barry Gibson has encouraged the investors to be patient with their demand for board seats to avoid derailing the group’s negotiations over an estimated £585mn settlement with UK authorities relating to historic bribery charges linked to a former Turkish subsidiary. The agreement could be reached as soon as next month. Adding to the pressure on Entain, two London-based hedge funds, Martin Stapleton’s Perbak Capital Partners and Ilex Capital Partners, have taken short positions against the company worth more than £25mn each in recent months, according to public filings. Perbak and Ilex declined to comment. One bright spot for Entain is its joint venture with MGM — BetMGM — which is the third most popular betting app in the online US market. While some shareholders still hope that MGM will return with a bid for Entain, MGM’s chief executive Bill Hornbuckle earlier this month downplayed the prospect of a second approach in the near future. |
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