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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Entain Plc | LSE:ENT | London | Ordinary Share | IM00B5VQMV65 | ORD EUR0.01 |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| -5.00 | -0.61% | 815.00 | 538,391 | 16:35:24 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 814.40 | 814.80 | 827.00 | 810.80 | 822.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Amusement & Rec Svcs, Nec | 4.77B | -928.6M | -1.4525 | -5.61 | 5.24B |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:35:54 | O | 97 | 815.40 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 13/12/2024 | 10:39 | UK RNS | Entain PLC Board Committee Change |
| 05/12/2024 | 12:20 | UK RNS | Entain PLC Director/PDMR Shareholding |
| 02/12/2024 | 07:00 | UK RNS | Entain PLC Total Voting Rights |
| 29/11/2024 | 07:00 | UK RNS | Entain PLC TR1: Notification of Major Holdings |
| 26/11/2024 | 14:15 | UK RNS | Entain PLC TR1: Notification of Major Holdings |
| 25/11/2024 | 14:38 | UK RNS | Entain PLC TR1: Notification of Major Holdings |
| 25/11/2024 | 14:15 | UK RNS | Entain PLC TR1: Notification of Major Holdings |
| 07/11/2024 | 08:29 | UK RNS | Entain PLC Director/PDMR Shareholding |
| 01/11/2024 | 07:00 | UK RNS | Entain PLC Total Voting Rights |
| 30/10/2024 | 14:14 | ALNC |  UK BUDGET: Reeves delivers win for gambling stocks and cheer for pubs |
Entain (ENT) Share Charts1 Year Entain Chart |
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1 Month Entain Chart |
Intraday Entain Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 13/12/2024 | 08:42 | ENTAIN | 12,185 |
| 15/10/2024 | 14:58 | Enition (ENT) | 615 |
| 06/3/2006 | 13:54 | Enition - Featuring in an interesting reverse takeover deal - opportunities in t | 40 |
| 16/1/2006 | 11:00 | Enition PLC | 18 |
| 02/7/2004 | 12:17 | Interview: ENT's CEO Ray Dutton - Friday 2nd July, 11pm | 2 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2024-12-13 17:17:46 | 815.40 | 97 | 790.94 | O |
| 2024-12-13 17:16:43 | 815.40 | 9 | 73.39 | O |
| 2024-12-13 16:35:54 | 815.00 | 5,171 | 42,143.65 | AT |
| 2024-12-13 16:35:54 | 815.00 | 309 | 2,518.35 | AT |
| 2024-12-13 16:35:25 | 815.00 | 356 | 2,901.40 | O |
| Top Posts |
|---|
Posted at 13/12/2024 08:20 by Entain Daily Update Entain Plc is listed in the Amusement & Rec Svcs, Nec sector of the London Stock Exchange with ticker ENT. The last closing price for Entain was 820p.Entain currently has 639,301,666 shares in issue. The market capitalisation of Entain is £5,209,029,975. Entain has a price to earnings ratio (PE ratio) of -5.61. This morning ENT shares opened at 822p |
Posted at 28/11/2024 10:24 by davius Fortunately yesterdays fall has been quickly reversed following the Gambling Act reforms. The affects are far less punitive than the suggestion of a doubling of the levy which caused a hefty fall prior to the budget.British government executes Gambling Act reforms as statutory levy and slot stake limits come in 27th November 2024 | By Robert Fletcher Great Britain’s government has today (27 November) set out plans for a new statutory levy on gambling profits, with the aim of raising £100 million (€120 million/$126 million) for gambling-related harm prevention and also confirmed new stake limits on online slots. The announcement is billed as a major step towards reducing gambling harm in Great Britain. Both the levy and stake limits were included in the previous government’s Gambling Act white paper published last year. The rate paid by each business will range from 0.1% to 1.1% of gross gambling yield (GGY). The exact rate will be determined based on the sector, vertical and the type of gambling they offer. This will take into account licensees’ operating costs and the risk profile of the products they offer. The current voluntary system doesn’t ensure all operators pay their fair share, the government claimed. Some pay as little as £1 a year towards research, prevention and treatment, it noted. The reforms follow a consultation that ran from October 2023 to January 2024. It collected input from clinicians, academics, the industry and wider public on how the levy should be designed and implemented. The new statutory levy appears to come into effect in 2025. The government has pledged a formal review of its effect within five years, by 2030. NHS to receive 50% of new levy funds It is hoped the levy will generate £100 million for the research, prevention and treatment of gambling harms. Half of the funding, the government said, will be allocated to the NHS-led gambling treatment system. Some 30% of funding will be invested in prevention efforts, including national public health campaigns and training frontline staff. The remaining 20% will be directed to UK Research and Innovation (UKRI) to develop a bespoke research programme on gambling. The Gambling Commission will oversee distribution of the funds. Meanwhile, the gambling industry will have no say over how money for research, prevention and treatment is spent. “Gambling harm can ruin people’s finances, relationships and ultimately lives,” Baroness Twycross said. “We are absolutely committed to implementing strengthened measures for those at risk, as well as providing effective support for those affected. “The introduction of the first legally mandated levy will be instrumental in supporting research, raising awareness and reducing the stigma around gambling-related harm.” NHS backing for new measures Claire Murdoch, NHS national director for mental health, said the organisation has long been calling for a statutory levy on gambling. “I am delighted to welcome the commitment to a mandatory gambling levy which the NHS, bereaved families and the voluntary sector have been calling for so we can treat this growing problem,” Murdoch said. “We will continue to work with government to do all we can to protect problem gamblers from this billion-pound industry.” Gambling harms can have a “devastating&# “This is why I am thrilled to support the government’s new levy, which will help us address the negative impact of gambling harms on communities using treatment, prevention and research through an independent evidence-based strategy at last.” Reform campaigners claim victory The introduction of the statutory levy was hailed by two of the most prominent reform campaign groups. Ian Duncan Smith, the Tory MP who chairs the All Party Parliamentary Group for Gambling Related Harm, pointed out the Westminster pressure group called for the measure five years ago. “For the first time the gambling industry will be mandated to pay for the harm they cause,” Duncan Smith said. “While there is much more to do, this is a seismic moment, a huge step forward, and I welcome it unreservedly.” Meanwhile Lord Don Foster argued the levy was a “damning indictment of the sector” for failing to pay enough voluntarily. “The money raised by this levy will go some way towards paying for gambling treatment, research and harm prevention but levels of payment must be reviewed over time to ensure adequate funding,” said Lord Foster, who chairs Peers for Gambling Reform in the House of Lords. “I look forward to working with the government on the implementation of this levy which is so urgently needed.” BGC – government must not “dance to the tune of anti-gambling prohibitionists̶ Betting and Gaming Council (BGC) CEO Grainne Hurst welcomed the introduction of the levy, but took exception to the tone taken in the government’s announcement. “BGC members voluntarily contributed over £170 million over the last four years to tackle problem gambling and gambling related harm,” Hurst said in a statement following the announcement. “This includes £50 million this year alone. They are funding an independent network of charities currently caring for 85% of problem gamblers receiving treatment in Britain.” However the release hinted that many licensees were not paying their fair share. Murdoch and Bowden-Jones focused on the negative effects of gambling. An increased levy on products considered higher-risk even echoes the ‘polluter pays’ line used by reform campaigners. This prompted Hurst to defend the industry. “Ministers must not lose sight of the fact the vast majority of people who enjoy a bet each month do so safely. The most recent NHS Health Survey for England estimated just 0.4% of the adult population are problem gamblers. “The tone of this announcement suggests government is at risk of losing perspective of these facts, while simply dancing to the tune of anti-gambling prohibitionists, which serves no one.” Online slot stake limit set at £5 for over-25s This tone was evident in the second part of the announcement, implementing stakes for online slots. Slots are “a higher-risk gambling product associated with large losses, long sessions and binge play” according to the government. The announcement may seem familiar. That’s because the previous Tory government announced the slot stake limits in February this year. It pledged to introduce the limits by September. That date passed without any movement. As first revealed in February, players aged 18 to 24 will be limited to spending £2 per spin. This increases to £5 a spin for over-25s. The government cited research from the Office for Health Improvement and Disparities and the Gambling Survey for Great Britain in imposing the stake limits. Research suggests young adults are particularly vulnerable to gambling related harm, with under-25s having one of the highest average problem gambling scores of any age group. “We are helping protect those at risk, with a particular focus on young adults, by introducing stake limits for online slots,” Baroness Twycross said. “These measures will help build an NHS fit for our future and strengthen protections while also allowing people to continue to gamble safely.” |
Posted at 22/11/2024 21:00 by srpactive macThe UK are ensuring Ent share price is kept down.for a bid from a US predator to buy on the cheap. Like today being kept below 755p for the chart purpose, on a day all markets boom. They could even be inflating flutter to get higher valued paper to bid for cheap Entain. If left and not played with Ent would be worth 1500p minimum. Shay new the score, that is why he said accept 1385p, the lady ceo should have accepted the draftkings offer. But we are where we are. New ceo and profits building with the US and Brazil booming and no silly massive spends could lead to a very large dividend. Still stand by my ftse100 2025 stock of the year. dyor |
Posted at 14/10/2024 17:08 by gambler911 Shares in British gambling firms plummeted on Monday morning after reports that the government was eyeing up £3bn tax rises on the sector in a move that one investment bank said would “all but wipe out bookmaker profitability in the UK”.William Hill-owner Evoke saw its share price crater by over 13 per cent in morning trading, while shares in Flutter, which owns brands like Paddy Power and Sky Bet, dropped by six per cent. Entain – the owner of Ladbrokes and 888casino – took a seven per cent pummelling to its stock price, wiping over £3bn in total off the UK gambling sector’s market cap in just a few hours of trading. The sharp slump follows a report published in the Guardian on Friday which said the Treasury was weighing up introducing proposals put forward by two think tanks, and backed by one of Labour’s biggest donors, at the upcoming Budget. The Institute for Public Policy Research (IPPR) and and Social Market Foundation (SMF) have both proposed new ways of taxing the UK gambling sector in recent months, with the latter backed by casino entrepreneur turned gambling regulation campaigner Derek Webb. In September, the IPPR published a report that estimated that the government could raise £2.9bn next year – and north of £3bn by 2030 – if it doubled taxes on “higher harm” industries like online casino games, while leaving “lower harm” activities like bingo and the lottery untouched. This would see the tax levied on general high-street bookmakers hiked from 15 per cent to 30 per cent, and online gambling duty up to 50 per cent. The SMF’s proposals are more moderate, suggesting the government should double the taxation on online gambling companies specifically from 21 per cent to 42 per cent, in a move that it says would raise £900m. But several analysts have dismissed the rumoured levies as unrealistic, with one labelling them “egregiousR James Wheatcroft, analyst at the investment bank Jefferies, said: “The proposals apparently being considered would all but wipe out bookmaker profitability in the UK, per our estimates. “The headlines highlight that changing tax (and regulation) is a legitimate concern when investing in gaming companies, but the extent of these proposals seems unrealistic. The headlines have since faded to the backpages, with limited media follow-up elsewhere.” Meanwhile Barclays analyst Brandt Montour commented: “While the article appears credible, the proposed changes (a doubling of most tax rates within one of the proposals) seem egregious to us, and will likely raise realistic concerns over anti-competitive impacts (most small operators would likely close-down) as well as giving a substantial boost to the black market.” Both Barclays and Jefferies also warned the IPPR proposals – if implemented in their strictest form – would stoke a rise in black market gambling. Russ Mould, AJ Bell’s investment director, said: “Labour is desperately looking for ways to raise revenue, having ruled out increasing taxes on ‘working people’. It’s notable that the speculation suggests so-called ‘lower harm’ activities like bingo and the lottery will be untouched by any tax changes… “Today’s news is a salient reminder of the strengthening headwinds the sector faces in terms of regulation and tax and that this remains a live risk for investors to consider.” |
Posted at 13/9/2024 07:18 by suetballs Flutter buys 56% of NSX in Brazil. Competition hotting up.ent share price strong again this am. Suet |
Posted at 07/8/2024 15:57 by gambler911 Analysis: Entain’s Gavin Isaacs appointment points towards high-profile mergerIndustry veteran brings big-name status, but track record of B2B and retail success suggests potential M&A. So it turns out Entain still has a surprise or two up its sleeve. When the operator’s search for a new CEO began following the departure of Jette Nygaard-Andersen, there were a number of ‘obvious’ Star Sports even opened a betting market on who could succeed the Danish executive, with the frontrunners being former Sky Bet CEO Richard Flint, BetMGM CEO Adam Greenblatt and a select few others. Not many would have had money on Gavin Isaacs, the Australian-born B2B expert who effectively made Light & Wonder what it is today (via a few twists and turns well-documented within gaming history). As an industry name, he carries serious credence – with over 25 years of experience – most recently being involved with Games Global and, prior to that, being Chairman of SBTech during its high-profile merger with DraftKings. But, as a leader of a predominantly online operator in today’s dynamic market, Isaacs’ years of experience in retail circles – and mainly in the US – make him a left-field choice. Given that his prior success came primarily in the retail sector – and with suppliers – the chances of him being brought in to find Entain the optimum buyer seem far likelier How has the market reacted? Very early indications, though, are that the market is reacting well to the new CEO’s appointment. Entain stock was up 4.3% at its peak this morning, at the time of writing sitting at £6.66 ($8.61) – up 3.4%. The fact Entain’s stock is that low, of course, is a sign of the difficulties it has had in recent years, having once surpassed £20 a share. That came in 2021, when DraftKings submitted a $20bn offer to purchase the operator, one it has perhaps lived to regret turning down. But there is a reason the market is reacting well to what, on the surface, may seem like a mismatch between a B2B veteran and a dwindling B2C giant. M&A: An Isaacs speciality Following Nygaard-AndersenR And Isaacs’ appointment will do little to dispel that notion. The executive is a specialist in M&A, having overseen several large-scale deals and, at SBTech, being brought in primarily with its DraftKings merger in mind. In short, if you want to sell your gaming company, there is a short list of names to turn to. One used to be Tony Rodio, who oversaw transitions at the Tropicana and, most notably, Caesars Entertainment as it merged with Eldorado Resorts for £$17.3bn. Rodio is now retired, of course, but a name of equal stature is that of Isaacs. Very early indications, though, are that the market is reacting well to the new CEO’s appointment. Entain stock was up 4.3% at its peak this morning, at the time of writing sitting at £6.66 ($8.61) – up 3.4% If Entain has indeed decided that a high-profile sale is its ultimate destiny – and perhaps the only chance of regaining full shareholder value – Isaacs’ contact book, especially when attracting an American buyer, is perhaps the best way to go. In it to sell it Maybe Entain has turned to Isaacs to re-steer the ship and give him the chance to lead a B2C giant back to its former glory. He certainly has the experience and adaptability. But given that his prior success came primarily in the retail sector – and with suppliers – the chances of him being brought in to find Entain the optimum buyer seem far likelier. Isaacs will be on a basic salary of £875,000, but with bonus opportunities of 2-4 times that. One would think his main remuneration may come when a deal to sell Entain (either as a whole or some of its main divisions) is complete. All in all, Isaacs is back in the big time. Will we be saying the same about Entain in the years to come? |
Posted at 01/8/2024 05:09 by italianofacile Search for Symbols, analysts, keywordsTranscripts MGM Resorts International (MGM) Q2 2024 Earnings Call Transcript Jul. 31, 2024 8:51 PM ETMGM Resorts International (MGM) Stock SA Transcripts profile picture SA Transcripts 148.01K Followers Follow Q2: 2024-07-31 Earnings Summary Play Call 10-Q EPS of $0.86 beats by $0.27 | Revenue of $4.33B (9.77% Y/Y) beats by $120.33M MGM Resorts International (NYSE:MGM) Q2 2024 Earnings Conference Call July 31, 2024 5:00 PM ET Company Participants Andrew Chapman - Director of Investor Relations Jonathan Halkyard - Chief Financial Officer William Hornbuckle - Chief Executive Officer and President Gary Fritz - President, MGM Resorts International Interactive Corey Sanders - Chief Operating Officer Hubert Wang - COO and President, MGM China Holdings Conference Call Participants Joseph Greff - JPMorgan Shaun Kelley - Bank of America Carlo Santarelli - Deutsche Bank David Katz - Jefferies Stephen Grambling - Morgan Stanley Brandt Montour - Barclays Daniel Politzer - Wells Fargo Barry Jonas - Truist Securities John DeCree - CBRE Robin Farley - UBS Chad Beynon - Macquarie Steven Wieczynski - Stifel Jordan Bender - Citizens JMP Operator Good afternoon, everyone, and welcome to the MGM Resorts International Second Quarter 2024 Earnings Conference Call. Joining the call from the company today are Bill Hornbuckle, Chief Executive Officer and President; Corey Sanders, Chief Operating Officer; Jonathan Halkyard, Chief Financial Officer and Treasurer; Gary Fritz, President of MGM Interactive; Kenneth Feng, Executive Director and President of MGM China Holdings; Hubert Wang, COO and President of MGM China Holdings, and Andrew Chapman, Director of Investor Relations. Participants are in a listen-only mode. After the company's remarks, there will be a question-and-answer session. [Operator Instructions] Please also note, today's conference is being recorded. At this time, I'd like to turn the floor over to Andrew Chapman. Andrew Chapman Good afternoon, and welcome to the MGM Resorts International Second Quarter 2024 Earnings Call. This call is being broadcast live on the internet at investors.mgmresorts On this call, we will make forward-looking statements under the Safe Harbor provisions of the federal securities laws. Actual results may differ materially from those contemplated in these statements. Additional information concerning factors that could cause actual results to differ from these forward-looking statements is contained in today's press release and in our periodic filings with the SEC. Except as required by law, we undertake no obligation to update these statements as a result of new information or otherwise. During the call, we will also discuss non-GAAP financial measures when talking about our performance. You can find the reconciliation to GAAP financial measures in our press release and investor presentation, which are available on our website. Finally, this presentation is being recorded. I will now turn it over to Jonathan Halkyard. Jonathan Halkyard Thanks, Andrew, and good afternoon, everyone. Before I get into our quarterly results, I would like to congratulate and thank all of our employees for another great quarter across all of our businesses. Their high level of execution is clearly evident in our results, and I couldn't be more proud of the team for our performance this quarter. Turning to our second quarter results. In Las Vegas, we achieved both top and bottom line growth year-over-year against a strong comparison. Net revenues grew 3%, driven by both higher rate and occupancy. Our strategic relationship with Marriott contributed to our performance this quarter now with over 410,000 room nights booked. The future for hotel bookings in Las Vegas is bright. Looking ahead at our pace, room rates on the books in Las Vegas are up year-over-year for every month in the third quarter and group rooms on the books are pacing up mid-single-digits for the rest of 2024 and 2025. Our success in the quarter was underpinned by our luxury resorts, which are responsible for the vast majority of our top line growth in Las Vegas. We invest meaningfully in our strip luxury offerings as this is where we see the most opportunity for profitable growth. In fact, 75% of our 2024 domestic property capital budget will be focused on these properties. This includes room remodels, which are underway now at the MGM Grand and suite updates across our Las Vegas portfolio. On the technology side, we've now completed the integration of the Cosmopolitan of Las Vegas into our MGM Rewards program, which will now allow our MGM Rewards members to enjoy full benefits at the Cosmopolitan and vice versa. In the regions, net revenues remained stable, driven by relatively flat year-over-year handle with our market share holding steady across each of our markets. We also have seen a full recovery at MGM Detroit, which we all know it faced headwinds since midway through last year. Margins were within our targeted range of the low 30s as we remain vigilant on improving our variable labor effectiveness and executing on revenue initiatives such as our expanded air charter program, just one of many examples. In Macau, MGM China net revenues grew 37% year-over-year, achieving a market share of 16%. Adjusted property EBITDAR reached $294 million for the quarter, marking a 40% increase with margins at 29%. During the quarter, we strengthened MGM China's balance sheet by extending our maturity profile with the issuance of a new $500 million seven and eight notes due 2031. The proceeds of this offering were used to pay down outstanding borrowings under the revolving credit facility. I'll conclude my remarks with some thoughts on the free cash flow algorithm we introduced last quarter. An algorithm that enables us to achieve a mid-teens free cash flow per share compound annual growth rate through 2028. Simply put, we expect to grow our EBITDAR at a faster pace than our rent escalators, interest payments, maintenance capital and taxes, while investing for growth and reducing our share count. First, we'll generate recurring free cash flow from our resort operations by optimizing the operating model to achieve incremental revenue growth and realize cost savings. We'll grow our market share in Las Vegas through reinvestment into our properties with a focus on luxury. We'll maintain our market-leading positions in the regional markets, including an expansion in New York and generating a growing dividend from MGM China. Next, we anticipate generating free cash flow from our digital businesses in the coming years as BetMGM reaches an inflection point and LeoVegas delivers on its numerous market entries. We'll also be investing for long-term growth in Japan and other markets where our development expertise and brand awareness provide a distinct advantage. Finally, we'll repurchase our own shares. Through our strategy of using excess cash for share repurchases, our share count has decreased to around 300 million shares from close to 500 million, an approximately 40% reduction in our float in just three years. Taken together, the increase in free cash flow and reduction in share count would result in a mid-teens free cash flow per share compound annual growth rate by 2028, even without a contribution from MGM Japan. Bill, over to you. William Hornbuckle Thanks, Jonathan, and good afternoon, everybody. I'd like to start by doubling down on Jonathan's comments on congratulating all of our employees. Their continued attention to detail in guest service, has been amazing, and it continues to show through in our NPS scores and also just take a second to identify and thank our management teams into a challenging wage inflation environment. I think you've seen through our margins, they've all done a great job managing their way through the first part of 2024. And I will remind everybody that most of those increases now lapse as we go into the second half of this year. Turning to the quarter, we had excellent results against a strong '23 comparison. We see continued strength, as Jonathan mentioned, in Las Vegas, driven by transient group demand. The Marriott integration is going exceptionally well and Mandalay Bay is fully leveraging on its updated space. MGM China continues to hold its market share and margins against a very competitive and evolving market. And our regions continue to hold top line and operating efficiency and it's great seeing Detroit finally returned to its earlier prowess in that marketplace post-strike post cyber last year. In Las Vegas, we believe Las Vegas growth continued its top line and maintain margins in the mid-30s. Group pace, as mentioned, is up in '24 and '25, anchored again by the refreshed space at Mandalay benefits from the Marriott program will only continue to increase, particularly on the group side, unique to MGM. We have a favorable supply dynamic with the closing of the Mirage and Tropicana taking approximately 1.5 million room nights off of the circuit. Again, we'll see lower years two through five labor contract increases. And organic same-store growth driven by a further database optimization is just stepping in, particularly now with the integration of the Cosmopolitan, which we finally got on yesterday. So we're very excited by that. Noting in the third quarter, I think all of you know this, but remembering back, we had the cyber-attack last year in the third quarter, and that should prove to be successful for us. However, in the fourth quarter, and I think many of you see this through our room rates, Formula One is showing some softness. We are hoping and believing that this race will continue to pace up. But I think you can see that and so we're a little focused on trying to make that the best event that it can be, but that presents a potential headwind in the fourth quarter. Overall, though, given where we are to think about records into the second quarter of Las Vegas at this point is pretty compelling and pretty exciting for all of us. To the regions, business remains stable with margins holding at 30% plus against an established and a consistent promotional environment and we continue to have best-in-class properties with leading market share providing a real steady free cash flow generation. Macau, the story continues, where outstanding performance and the drivers of strength in that market, starting, I believe, with our leadership team. We have Kenny and Hubert on the phone. Pansy has clearly leaned in on many things that impact the property in our market and ultimately our market share. And so we're thankful for that. And there are many tactics that they deploy. I think the thing that's most compelling is they truly understand our customer, our customer base and their wants and needs. And without any real capital enhancements from where we left this market in 2019, we're obviously outperforming. MGM Macau is now the top producer on the Peninsula side, something we're proud of and a position we'd like to keep and so we're going to continue to invest into that property. And ultimately and overall, remembering the market has only returned to 80% recovery. Well, MGM is well above that. We still see opportunities not only for growth in the market, but ultimately for us to steal additional share. Before I turn this over to Gary Fritz, who you've not yet met to talk more about MGM Interactive, I'd like to comment on Entain's recent announcements and BetMGM's domestic business. First, I'm excited by the relationship that we've created with Stella David as the Interim CEO and now the Chair. I'm equally excited by the progress that's been made by the team and BetMGM's product enhancements with a key focus by the Entain Group. And now the recent addition of Gavin Isaacs as CEO is comforting, someone MGM and I have not known for a long time, have a great relationship and I think he'll do wonders for that business and ultimately the market. |
Posted at 23/6/2024 17:17 by pj84 Agreed and unless the uncertain litigation produces an unexpected result the market is fully aware of the litigation and hopefully it is now more than priced in at the current share price and I am hoping the interim CEO and her partner have invested millions of their own money for a reason. |
Posted at 29/5/2024 14:43 by wunderbar I must admit, up until recently I knew nothing about this stock. It caught my attention couple weeks back when it fell 5.5% in one day. My interest was piqued when I discovered Entain is the owner of gambling brands such as Ladbrokes, Coral, Party Poker and Foxy Bingo, to name a few.The more I delved into this company the more I liked about it. A major sports betting/gambling company [£4bn+ market cap], share price looking increasingly appealing, and notably the fact it turned down a takeover bid of £8.1bn [equivalent to 1383p per share] from its US joint venture partner MGM Resorts in January 2021. To me, this looks like a growth stock [having made numerous acquisitions in recent years] which has struggled to fire on all cylinders these past 12 months and consequently fallen out of favour. Having no permanent CEO for five months certainly doesn’t help, and you’d have to say, if they haven’t filled this vacancy by Interims [8 Aug 2024] then surely the board’s credibility will be called into question. I usually opt for income stocks at low prices with the aim of eventually netting decent capital gains over long term, but occasionally a company catches my eye and entices me to take a calculated punt. Needless to say ENT is one such stock. With such a paltry dividend yield of 2.69% [total 17.8p] it certainly isn’t an income play but does have potential for significant capital growth in medium term. My immediate concerns are; 1]. Given the FTSE is near record highs c.8200, if it drops to say to c.7500, will ENT hit new lows noting share price has already fallen 33% this year, down 52% over 12 months, and for good measure has fallen 70% since peaking at 2500p in Sept 2021. 2]. Impact on share price if ENT demoted from FTSE 100. 3]. Interims disappoint market - these are key to determining where we are heading short term. 4]. Regulatory headwinds I’m pinning future hopes on; 1]. Imminent appointment of CEO 2]. Interims warmly received by market 3]. MGMBet gaining market share in US market 4]. General market/sector turnaround 5]. Outside chance ENT getting taken over. There comes a point when you have to go from being a spectator to becoming an investor. I was initially tempted at 750p, 700p, 675p, but there’s only so long you can keep watching before FOMO [fear of missing out] kicks in. And so today I finally cracked and made an initial purchase @ 660p. Whether or not this turns out to be my one and only purchase remains to be seen. I will consider adding if it drops another 10-15% [c.560-600p]. Ultimately, I’m looking to double my money c.1320p. If I end up averaging down I’ll likely change my strategy and opt for a 50% gain, c.900-1000p. Either way, I’m looking to achieve my price target in 24-36 months. On a final note, according to latest FT data, the 17 analysts offering 12 month price targets for Entain PLC have a median target of 1,070p. Let’s see how that pans out. |
Posted at 03/4/2024 14:00 by macarona Ladbrokes owner ENT share price is #32LeoVegas BetMGM owner MGM share price is #4 |
Posted at 26/3/2024 14:01 by pj84 "Berenberg advises being patient with EntainPatience is needed to invest in Entain (ENT) but Berenberg says there is still value in the gambling group." ... "‘That being said, at the current share price, we still forecast good upside to our new price target of 1,140p and we remain “buy”-ra |
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