Lasted just 4 months. |
Gavin Isaacs, said: "I am very excited to be joining Entain. The company's iconic brands, exceptional talent and ongoing execution of its refocused strategy will enable the business to return to a leadership position across all aspects. I am confident that Entain has an extremely bright future, and I look forward to leading the Group in capitalising on the opportunities ahead and creating value for all its stakeholders." |
Thanking him, but not wishing him well..normally the 2 paragraphs..just the 1 |
All my fault, I doubled my holding yesterday 🙄 |
What is going on… another banana skin slipped on? |
Entain plc
("Entain" Directorate Change
Entain plc (LSE: ENT), the global sports betting and gaming group, announces that by mutual agreement Gavin Isaacs, Chief Executive Officer, is stepping down with immediate effect.
Stella David, currently Entain's non-executive Chair, will again assume the role of Chief Executive Officer (CEO) on an interim basis until a permanent replacement has been found. Stella was previously Interim CEO from December 2023 until September 2024. Pierre Bouchut, currently Senior Independent Director, will become non-executive Chair on an interim basis. |
MGM q4 tomorrow. |
...and both DKNG & MGM up pre- market. |
724000 new online betting accounts opened in US over weekend
Record handle |
Well BETMGM has been a drain on resources for years. Now they say they do not expect to be funding it any more - UK anal - ysts can stop ascribing a negative value to it.
When it does get around to making a profit and returning some actual cash to Entain - they should actually get around to putting some value on it.
I say UK because I think traditionally they have been more conservative than their US counterparts.
In the US the heavily loss making Draftkings was valued on potential. Whilst they and MGM were interested in Entain , its share price rose.
As soon as the bid talk subsides back to UK style of valuation.
The disappointment is they don't give a definitive timeline for the $500m profit. |
 Entain: Plenty of progression, says Jefferies
The market valuation of Entain (ENT) effectively puts zero value on its BetMGM joint venture, meaning there is plenty of potential in the shares, says Jefferies.
Analyst James Wheatcroft retained his ‘buy’ recommendation and target price of £11.40 on the Citywire Elite Companies + rated gambling group, which was trading down 1.3% on Friday morning at 733p and has lost a quarter of its value over the past year.
‘We see a positive progression path for Entain’s equity story, with scope on estimates and valuation multiples,’ he said, adding that finals on 6 March have already been confirmed at the top end of guidance.
Entain also has a medium-term plan that will be outlined in March by the new but ‘credible’ chief executive.
Wheatcroft said BetMGM numbers are expected to provide upside, especially with further US states legalising iGaming. The positive drivers are ‘all set against a valuation that reflects zero value for BetMGM’, Wheatcroft said. |
Nor does signing off "Suet" after every irrelevant post, it's just pretentious! |
Superbowl should be good for Betmgm, any news? |
Very interesting question as I do not feel Entain value the
fifty percent stake. We just have to remember non betmgm are
making a £1bn operating profit. Then we have betmgm, in 2026/27
we could be close to £1.5-2bn. Draftkings is valued at $20bn now,
making zero I believe. ??????????
dyor |
Is there any info on how MGM values their 50% of BetMGM? |
Excellent info. |
US icasino is booming for BetMGMSignificant sea change in numbers over the past 3 months all comparing to previous yearFor exampleDec YoYNew Jersey 40m to 52m Michigan 42m to 58mSo 110m for a single month from just 2 states. 8 other states talking now about icasino. Regular income unlike sports Sports becoming less significant as this relentless increase in icasino will speed up all forecast profitability targets and make the entain 1/2 of the deal hugely attractive |
FFS - this incessant whingeing adds nothing.
Suet |
There is only one certainty about ENT share price - it is sure to disappoint! |
Here we go again - pump and dump! |
Active, hopefully there will be some good news on the 6th March. Our day will come! |
FTSE rockets and we are taken down again by the draftkings crew. Really have the management not got eyes. |
Hargreaves London:
Entain’s US joint venture BetMGM saw its second half underlying revenue growth accelerate to 19% helped by a 29% pick up in Online Sports.
That brings the full year total to $2.1bn with underlying cash losses (EBITDA) rising from $62mn to $244mn.
In 2025, revenue guidance of $2.4-$2.5bn was a bit lighter than expected, but cash profit (EBITDA) is expected to be positive, contrary to market expectations of a small loss.
Entain shares finished up 5.7% on the day.
Our view
The market has responded favourably to news that Entain’s US tie up with MGM Resorts, is heading towards profitability this year.
But the biggest contributor to Entain’s profits in the core business remains the UK & Ireland, where tighter gambling regulations have been weighing on performance. Over time, the comparatives will become easier, and there are growing signs that marketing and product development efforts are driving more players to Entain’s betting and gaming websites.
Progress at its betting shops is proving to be a slower burn. And the sector does come with some inherent risks, like the potential for more regulatory change. On top of that, gambling’s long been seen as an easy target for the taxman. Unfavourable sporting results can also cause financial results to disappoint.
The domestic market is relatively mature, and growth may never shoot the lights out. But there are more exciting opportunities overseas. One such example is Brazil, the fastest-growing market outside the United States. Entain is already well established here and was an early applicant for a license in a new regulatory framework. This opens up new commercial opportunities and creates a barrier to entry. Nonetheless, competition in Brazil is still likely to intensify.
We welcome the move to exit non-core unregulated markets like Chile and Peru, allowing investment to focus on high-growth areas, along with the core regions like the UK.
Margin expansion is also on the cards, with 'Project Romer' on track to deliver £70mn of annualised cost savings to the online operation by 2025 (c.6% of 2023 operating costs), rising to £100mn by 2026. These initiatives sound great, but we're not getting too excited until some results come through.
Entain’s hope of cracking the US rests with its joint venture, BetMGM. It's been taking a bit longer than expected to reach profitability as it spends heavily on marketing to gain a foothold in this relatively immature but potentially huge market for online betting and gaming, but there’s now hope that losses will soon be a thing of the past. We see a lot of room to run in this market, and management is confident it will hit $500mn of annual cash profit in due course. But just how quickly it can close in on that target isn’t clear.
Entain looks to be overcoming recent challenges and there are some attractive growth prospects to go for, particularly in overseas markets. And for those willing to accept the higher risk that accompanies the sector, the valuation doesn’t look too demanding.
Environmental, social and governance (ESG) risk
Consumer services companies are medium risk in terms of ESG, and very few companies excel at managing them. That leaves plenty of opportunity for forward-thinking firms. Product governance concerns are a primary driver of this risk, along with the environmental and social impact of those products and services. Additional material issues to the industry are resource use and waste, and labour relations.
Entain’s overall management of material ESG issues is strong.
Entain has established a board-level ESG committee overseeing issues like safer betting, regulatory compliance, and anti-bribery. The company has strong policies on responsible gambling, anti-bribery, and whistleblowing, but needs improvement in responsible marketing, data privacy, and political involvement |
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