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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
  -4.00 -0.26% 1,553.00 1,246,007 16:35:20
Bid Price Offer Price High Price Low Price Open Price
1,553.50 1,554.50 1,583.00 1,550.50 1,553.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 3,830.00 393.20 45.10 34.4 9,144
Last Trade Time Trade Type Trade Size Trade Price Currency
17:57:49 O 5,829 1,565.432 GBX

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Entain (ENT) Discussions and Chat

Entain Forums and Chat

Date Time Title Posts
06/2/202312:21ENTAIN7,673
01/9/202121:49Enition (ENT)614
06/3/200613:54Enition - Featuring in an interesting reverse takeover deal - opportunities in t40
16/1/200611:00Enition PLC18
02/7/200412:17Interview: ENT's CEO Ray Dutton - Friday 2nd July, 11pm2

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Entain (ENT) Top Chat Posts

Top Posts
Posted at 07/2/2023 08:20 by Entain Daily Update
Entain Plc is listed in the Travel & Leisure sector of the London Stock Exchange with ticker ENT. The last closing price for Entain was 1,557p.
Entain Plc has a 4 week average price of 1,411.50p and a 12 week average price of 1,265.50p.
The 1 year high share price is 1,725p while the 1 year low share price is currently 994.60p.
There are currently 588,782,083 shares in issue and the average daily traded volume is 3,257,554 shares. The market capitalisation of Entain Plc is £9,143,785,748.99.
Posted at 05/2/2023 20:44 by cheshiremoggie
Mmmm...

Entain current p/e based on H1 is 167.

Of course ENT has been buying companies and investing huge sums into BetMGM - you have to interpret accounts and see the potential.

However when comparing US p/es against ENT, you can't fiddle one side (ENT) without doing the same for the US side.

ENT p/e should come down massively as the BETMGM investment stops or eventually turns positive but currently ENT is valued at 167 p/e.

i.e. very high.

CM

Btw you don't usually give a p/e for loss making companies. Overall p/e isn't a great way to value companies that are investing large sums into growth.
Its one reason why US companies are far better than UK ones - not afraid to invest for growth rather than give out dividends. Just look at the FTSE and Dow to see which method works best.

Posted at 24/1/2023 22:26 by maddox
If there is any logic in combining ENT and MGM Resorts - it makes far more sense as a reverse takeover of MGM Resorts by ENT - retaining the US quote. ENT is more highly rated than MGM whilst MGM is heavily leveraged with debt (secured against its bricks and mortar).

ENT have a successful track record of acquisitions - nine in the last 18 months - of successfully integrating them and turning around underperforming brands. Also, of making audacious takeovers of firms twice and more their own size:

>> Sportingbet (2013);

>> BWIN (2016); and

>> Ladbrokes Coral (2018).

ENT have the superior management, expertise in what are the important future oriented aspects of international gambling, betting, gaming, and now eGaming as well as running physical retail.

I doubt that ENT would have to pay much of a premium to takeout MGM either.

Posted at 10/1/2023 16:42 by srpactive
The near term resistance for them is $37.8, once through
next target $41 plus. I just feel the closer their
share price gets to $45 the more likely the city will
expect an approach for us. In turn ent share price rising.

dyor

Posted at 22/11/2022 11:12 by speedsgh
Doesn't appear the market is very convinced by this 'rumour'...

HTTPS://www.osga.com/wordpress/from-the-rumor-mill-mgm-prepared-to-step-up-to-buy-entain/

... MGM ready to make a move

According to a source with strong connections to MGM, the company realized the partnership mistake almost immediately and near the start of the pandemic felt the best option to get full control of BetMGM was to purchase Entain. While it’s not certain what MGM wants with the non-North American portion of the company, there are many at MGM who believe that online gambling will grow exponentially in Europe, Asia, Australia and South America in the near future and in those countries the brand name Ladbrokes, Bwin and SportingBet are more recognized than BetMGM, plus staff in those countries will have more local knowledge of how to attract new bettors. More importantly staff in those countries would know the political landscape there. So, MGM is hoping that by buying Entain it could have a larger international online presence and at the same time cut out the competition.

Consequently, MGM tried to buy Entain in January 2021 offering a little over $11 billion to purchase the company. Entain rejected it immediately saying the offer wasn’t adequate. Several months later DraftKings doubled that offer to $22 billion USD, which was clearly more than Entain was worth, so much so that Entain’s stock price rose sharply while DraftKings stock plummeted. The partnership agreement between MGM and Entain, however, allows MGM to veto any partnership deals between Entain and another North American company and according to all reports MGM CEO Bill Hornbuckle threatened to use that veto if Entain took the DraftKings offer, so Entain turned it down using the excuse that it still wasn’t enough.

Since that offer was made, MGM apparently realizes that the threats of takeover by other entities will continue. So, according to my source, MGM now is prepared to step up to the plate and “do whatever it takes” to acquire Entain or, at the very least, buy out the North American operations of Entain. It won’t come cheaply, however, since in a 2021 shareholder’s meeting Entain said that BetMGM has generated five times the revenue it was expecting when it made the deal.

MGM feels that it now has the skills, technology and personnel to run BetMGM on its own and doesn’t need the resources provided by Entain. And Hornbuckle has insinuated that it’s not in the company’s philosophy to rely on others for help. So, while the source didn’t know how much MGM would offer, he felt it would be similar to DraftKings’ offer and with the British Pound’s decline in the last year, that may be too much for Entain shareholders to turn down. The dollar is currently worth approximately 85 cents against the Pound Sterling, compared to 70 cents when MGM made the original offer. Thus, an offer of $22 billion is worth far more in the UK local currency today than it was a year ago.

North America

If Entain still does not want to take the offer, then MGM is prepared to pay handsomely for the North American rights for all of BetMGM. The figure was not known at this time, although the source laughed and said “it will be a hell of a lot more than the $100 million they paid in 2018.” Numbers that have been thrown around are upwards of $2 billion. If Entain agrees to it, then MGM will effectively do the exact same thing that Caesars did with William Hill. Acquire all the North American assets of Entain, while either continuing to run the non-North American portion of Entain on its own or selling it off to another company, as Caesars did when they sold the non-North American assets of William Hill to 888.

If MGM is only interested in North America, would DraftKings still be interested in the non-North American part of Entain? Probably, but not at the valuation they offered previously. There is no doubt that DraftKings’ offer was to help lower the competition in the United States and this deal wouldn’t help that. Then again, DraftKings would love to make an impact in the rest of the world to compete with Flutter and a purchase of Entain and sell-off of EU assets by MGM may be the golden opportunity.

Posted at 10/11/2022 15:26 by gambler911
Entain a buy for BetMGM growth reckons UBS
The UK businesses are also better placed than their peers to withstand the regulation risk

Entain PLC -
Entain, owner of bookmakers Coral, Ladbrokes and Bwin, is a buy for UBS, which has started coverage with a price target of 1,770p.

US online sportsbook joint venture BetMGM underpins the Swiss Bank's bullish view, with the broker predicting it will “triple revenues by 2025 and turn profitable by 2023”.

The UK businesses are also better placed than peers to withstand the regulation risk due to the recreational customer base, implementation of tighter checks on affordability and recent market share gains, though the potential £2 online slot limit might impact earnings by 3%.

UBS predicts medium-term growth of 7% online due to current exposure to regulated markets, exposure to younger high-growth markets and a “strong track record of double-digit growth and market outperformance.̶1;

Shares in Entain rose by 3% to 1,342p.

Posted at 06/10/2022 14:20 by drk1
Contrary to the above from Shriber - today's shares magazine touts ENT as a prime potential takeover target............."Entain (ENT) and Playtech (PTEC) have both been subject to bid interest in the past. For example, MGM Resources (MGM:NYSE) offered $11.06 billion or 0.6 shares per Entain share in January 2021 for the UK business, based on the closing price on 31 December 2020. That valued Entain at £13.83 per share or $18.90 based on the exchange rate at the time of the offer. Entain currently trades at £10.72 per share and reports suggest MGM is still interested in buying the British business because that would enable it to own their BetMGM joint venture outright.If MGM came back with a new offer pitched at 50% above the market price – the type of bid premium that should excite investors – then it would have to pay £16.08 per share. At today’s exchange rate that equals $18.02 per share, so
approximately 5% less than it offered nearly two years ago despite representing a substantially bigger bid premium than the 20% it made last time.
Naturally this is pure speculation and a hypothetical example, but it is another illustration of how the latest currency movements would work in the favour of someone funding a UK takeover in dollars."

Posted at 05/10/2022 20:02 by gambler911
MGM Unlikely to Bid Anew for Entain as Economy Crimps Financing

Posted on: October 5, 2022, 02:44h.
Last updated on: October 5, 2022, 02:55h.
Todd Shriber
Todd Shriber
Read More
The deteriorating global macroeconomic environment is crimping financing avenues, indicating a pause in large-scale mergers and acquisitions could be a result.

MGM Entain
MGM Grand on the Las Vegas Strip. MGM Resorts could encounter difficulty if it again tries to buy Entain. (Image: MGM Resorts)
Some analysts believe that’s relevant to suitors considering gaming industry targets, including MGM Resorts International (NYSE: MGM) potentially revisiting a takeover bid for Entain Plc (OTC: GMVHY). Even with the US dollar ranking as the world’s best-performing major currency this year and the British pound flailing, the Bellagio operator would likely still need to procure significant financing for another run at the Ladbrokes owner. That could be a dicey proposition with interest rates rising and lenders skittish about the broader economy.

If you want to go and raise money to buy something right now, it’s nigh-on impossible whatever market you’re in,” said M&A expert Paul Richardson in an interview with iGaming Business. “Leveraged finance is pretty much a driver and the costs are high right now – that then makes it harder.”

In January 2021, the Las Vegas-based casino operator bid $11.06 billion for Entain. The British bookmaker said the offer wasn’t adequate. MGM didn’t publicly up its offer, and the talks ultimately fell apart.

Next Steps for MGM, Entain
MGM has made no secret about its desire to control BetMGM — the iGaming and sportsbook entity that’s a 50/50 joint venture between the casino company and Entain.

Likewise, the Las Vegas-based company is displaying a willingness for deal-making and said it may eye future acquisitions. All that said, a couple of issues make acquiring Entain difficult. First, last October, Entained declined a $22.4 billion offer from DraftKings (NASDAQ: DKNG). Some analysts view that as the bar, making it unlikely the Coral owner would consider a takeover proposal at a lower price.
Second, Entain is on an acquisition spree of its own – one that some industry observers believe makes it difficult for a suitor to acquire the company. Some of Entain’s recent purchases may be appealing to MGM. Others not so much.

Then there’s the matter of potentially taking on debt as rates are rising and MGM sports junk credit ratings.

“If MGM were to try to buy Entain today, they’d still have to find a lot of money to pay for it — I would say it would be a challenge. They clearly have a good relationship with the banks over in the US, but they would need a lot of funds for their approach,” Richardson told iGaming Business.

Don’t Expect Much UK Gaming M&A
Although sterling is in a downward spiral against the greenback, it’s unlikely other British gaming companies are on the radars of US-based suitors.

As Richardson noted in the interview, FanDuel parent Flutter Entertainment (OTC: PDYPY) is too large to draw credible takeover bids. Likewise, Bet365 isn’t viewed as a contender for an acquisition offer.

888 Holdings has been the subject of takeover speculation, but its debt burden could be off-putting to suitors. Gaming technology company Playtech was nearly acquired by Aristocrat Leisure, but that deal collapsed earlier this year.

Posted at 04/10/2022 07:42 by jullesorel
Well that wont happen. We have seen how low value MGM puts on Entain...There is no way they will add 78-80 % premium to the current share price...
Posted at 01/9/2022 18:49 by gambler911
AUGUST 11TH
Entain: Little change to estimates expected; interesting move in CEE region
THE DAVY VIEW
Entain’s newly introduced 2022 EBITDA guidance range (£925-975m) suggests we are unlikely to make material changes to our estimates (Davy: £953m). That is despite its H1 performance being modestly behind our expectation. A strong balance sheet position has allowed the group to reinstate its dividend (six months earlier than expected) and also to strengthen its position in Central & Eastern Europe with the creation of Entain CEE (and the accompanying acquisition of 75% of an attractive looking SuperSport business).
Existing forecast at middle of newly introduced guidance range
Entain has stated that its outlook for the remainder of the year is unchanged and that it expects 2022 EBITDA to be in the £925-975m range. Our current forecast of £953m (reduced by 6% from £1,014m at the time of its July trading update) therefore sits at the mid-point of the range. Visible Alpha (VA) consensus is at £963m. Our forecast implies +£71m growth year-on-year (yoy), including Online (£833m, - £66m yoy; consensus £844m), Retail (£251m, +£185m; consensus £252m) and New Opportunities (-£50m, -£41m yoy).
H1 EBITDA slightly behind expectation
H1 EBITDA of £471m is slightly behind our expectation (-2.5% versus £483m) but in line with VA consensus (£472m). Group revenue for the period was £2,118m (top-line growth rates already disclosed), resulting in an EBITDA margin of 22.2% (Davy: 22.9%). Its divisional performance is different to our forecasts with Online EBITDA, at £385m, below our expectation (£414m) and with Retail almost offsetting at £141m (Davy: £128m). There is little incremental detail on the US following its own and MGM’s recent updates. Leverage at the end of H1 was 2.3x, and it has reinstated its dividend with a proposed interim payment of 8.5p/share. Announces creation of Entain CEE and acquisition of SuperSport
Separately, Entain has announced the creation of Entain CEE (it will own 75% of the vehicle alongside EMMA, a regional investment firm). Entain CEE will acquire SuperSport from EMMA for an implied EV of €920m, or 9.6x 2022 EBITDA (pre- synergies). The vehicle will be led by the current SuperSport CEO and will position Entain to consolidate other local leading operators in the structurally attractive region. SuperSport has 54% market share in Croatia, has grown net revenue at a 17% CAGR rate since 2016 and is said to have a sustainable EBITDA margin of c.52%. Synergies should add €5m per annum. The transaction is expected to close in Q4 2022 and add 0.4x to Entain leverage.
Rating: Neutral (13/12/17

Posted at 06/8/2022 16:08 by coxsmn
Jupiter's Veteran fund manager Richard Buxton on how he's taking advantage of inflation29th July 2022"We haven't lost money but it has been really sad to see the share price of Entain, the betting company, fall by 50pc over the past 12 months. I am amazed because it has a joint venture with MGM Resorts in America. Online gaming is only just starting to be legal there and is opening state by state.The creation of an entire market is a phenomenal opportunity for this business. Partly, the reason the shares have fallen is that people don't gamble as much in tougher times. It has been a successful business across Britain, parts of Europe and Australia. It also has big operations across Latin America. I reckon you could justify the current share price just on the 50pc stake in the MGM joint venture, so you are effectively getting its other international operations free."
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