Entain PLC

Entain Plc engages in the provision of online sports betting and gaming. It operates through the following business segments: Online, UK Retail, European Retail, Corporate, and Other. The Other segment comprises betting and gaming activities from online and mobile operations, Sports Brands include bwin, Coral, Crystalbet, Eurobet, Ladbrokes and Sportingbet; Gaming Brands include Casino Club, Foxy Bingo, Gala, Gioco Digitale, partypoker and PartyCasino. The UK Retail segment comprises betting activities in the shop estate in Great Britain, Northern Ireland and Jersey. The European Retail segment comprises all retail activities connected with the Republic of Ireland, Belgium, Italy and Spain (JV) shop estates. The Corporate segment includes costs associated with Group functions including Group executive, legal, Group finance, tax and treasury. The Other segment includes activities primarily related to telephone betting, Stadia, Betdaq, on course pitches and Intertrader. The company was founded on November 30, 2004 and is headquartered in Douglas, the United Kingdom.

Shares in Entain PLC (LSE:ENT), the owner of Ladbrokes, Coral and US joint venture Bet MGM, spiked on reports that it faces growing investor unrest from activist investors. Following the shares recently sinking to a three-year low below 840p, two more US activist hedge funds have 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.

Entain bounces off low as more activists voice concerns over performance

Entain (LON: ENT) share proce has been in a steep sell-off in the past few months as the company has gone through several self-inflicting wounds. The stock retreated to a low of 817p this week, the lowest level on record.

Entain share price: Time to buy this fallen angel?

Jefferies, the American investment bank, has reaffirmed its strong price target for Entain PLC (LSE:ENT), the gaming firm that owns Ladbrokes, Coral and BetMGM. The bank's analysts have set their sights on a target of £13.35 per share, a 51% premium to the current share price.

Entain worth 50% more than current valuation, says leading US bank

Flutter Entertainment PLC

When Flutter Entertainment PLC (LSE:FLTR), the betting company, reports a third-quarter update on Thursday, November 9 it will likely be hoping to echo much of the good from rival Entain's results while avoiding all of the negatives. Entain PLC (LSE:ENT), the owner of Ladbrokes and Coral, saw its shares slip by around 4.5% on Thursday after continued “customer friendly” results continued to eat away at sports margins and therefore underlying earnings.

Can Flutter echo Entain's wins while avoiding the same setbacks?

Entain PLC (LSE:ENT), the FTSE 100-listed betting company and owner of Ladbrokes, Sportingbet and Foxy Bingo, is pinning its hopes on a return to growth in 2024. The group warned in September that online gaming revenue had been softer than expected due to adverse sporting results and ongoing regulatory headwinds.

Ladbrokes owner Entain hit by customer-friendly sports results

Entain PLC (LSE:ENT) shares are down by a third this year, with the owner of Ladbrokes, Sportingbet and Foxy Bingo warning last month that online gaming revenue has been softer than expected, hit by adverse sporting results and ongoing regulatory headwinds. It said it expects its full-year online net gaming revenue (NGR) to be up low double-digit percent, while pro forma NGR rising by a low singlep-digit per cent.

Has Entain lowered the bar enough for third-quarter update?

Entain, the owner of Ladbrokes and Coral, as well as other gambling companies have experienced steep share price falls in the last few months, but analysts at Exane believe the “negative moves are mostly overdone.” Shares in Entain have slipped close to 33% since August, while Flutter, owner of Paddy Power and Sky Bet, has dropped around 15% in the same period.

Entain and Flutter may have fared the worst, says analyst

Analysts at UBS have readjusted their guidance on Ladbrokes and Coral owner Entain PLC (LSE:ENT) following last week's tepid trading update. In that update, Entain warned online gaming revenue has been softer than expected, hit by adverse sporting results during September and ongoing regulatory headwinds.

Ladbrokes owner Entain revised down following tepid trading update

DraftKings

Sportradar Group AG

We are entering week four of the NFL season and online betting just got a little busier with Fanatics and Caesars Entertainment (NASDAQ: CZR ) offering live streaming of NFL games. They are doing so on their betting apps through Betvision, Genius Sports' (NYSE: GENI ) immersive sports wagering experience.

Don't Miss the Boom: 3 Gaming Stocks Set to Explode Higher

After Entain PLC's (LSE:ENT) profit warning sent its shares tumbling it "looks an attractive time" for US partner MGM Resorts (NYSE:MGM) to make another bid, analysts at Deutsche Bank suggested. The FTSE 100-listed bookmaker, which owns Ladbrokes, Bwin and a 50% share of US-based BetMGM, plunged 13% on Monday after surprising the market with news of softer third-quarter online gaming revenue due to some unhelpful sporting results and regulatory headwinds mostly in the UK.

Entain's three-year low is 'attractive time' for MGM to renew bid - analysts

Entain PLC (LSE:ENT), the owner of Ladbrokes and Coral, sunk 9% lower on Monday after surprising investors with a warning that full-year revenues had been slowing in 2023, but despite this City analysts remain cautious to write the stock off yet. Revealing that online net gaming revenues in the third quarter were now set to decrease by a “high single-digit” year-on-year because of adverse sporting results and tighter-than-expected regulation in the UK, the gambling firm now forecasts “low single-digit growth” to full-year online revenues.

Entain plummets as analysts caution over weaker sales

Entain PLC (LSE:ENT) warned online gaming revenue had been softer than expected hit by adverse sporting results during September, and ongoing regulatory headwinds. The owner of Ladbrokes and Coral said since the summer, online net gaming revenue (NGR) has been mixed, but in aggregate, softer than anticipated.

Entain sees softer online net gaming revenue since summer

Online gambling in the US continues to boom and with new players entering the industry all the time, analysts at Barclays believe that while the top two market leaders are unlikely to lose their spots in the coming years there is set to be a battle for third place. Updating its total addressable market (TAM) estimates to US$33 billion for the US industry in the medium term, Barclays PLC (LSE:BARC) expects this figure to charge higher to US$55 billion in the longer term, having incorporated Canada into predictions.

Entain, Flutter & DraftKings battling for US sports betting dominance

MGM Resorts

The US sports betting and iGaming market are on track to top US$30 billion yearly revenue for the industry in the coming years, just five years after being stationed by the US Supreme Court. So far, 35 states have regulated some form of sports betting or online gaming activity, most of which is catered for by the 'big three' of sportsbook providers: Draftkings Inc (NASDAQ:DKNG) (Draftkings Inc (NASDAQ:DKNG)); FanDuel, which is owned by Flutter Entertainment PLC (LSE:FLTR); and BetMGM, a joint venture between MGM Resorts International (NSX:MGM) and Entain PLC (LSE:ENT).

DraftKings and Big 3 sports betting rivals 'on track' to double market in next three years

A US inflection point is emerging for Flutter Entertainment PLC (LSE:FLTR) and Entain PLC (LSE:ENT) is one of the key themes emerging from the bookmakers' recent updates. This, said broker Shore Capital, and global regulatory headwinds dissipating will “help shape the investment case” for both stocks over the next 12-18 months.

Flutter Entertainment PLC, Entain PLC nearing 'inflection point' for US sports betting

Entain PLC (LSE:ENT) shares have climbed after investment bank Jefferies highlighted the stock's attractions, despite lowering estimates and its price target for the betting operator. Jefferies noted higher interest, increased minorities (STS) and a higher share count after the recent c8% placing leads it to cut EPS forecasts by 14%, 12% and 12% for the next three financial years.

Entain favoured by Jefferies despite lower price target

Entain reported solid H1 results with a higher-than-expected provision for settlement with HMRC on legacy Turkish operations. BetMGM announced its entry into the UK market, using LeoVegas' tech stack, causing Entain shares to tumble. Despite challenges, the investment case for Entain remains intact, with a compelling discount to SOTP and appealing earnings growth.

Entain: Buy On Weakness

Fears about new market entrants threatening the positions of Entain's BetMGM and Flutter's FanDuel in the US are overdone, according to Citibank. “We've seen heightened media/investor attention on new US Online Gaming players (Fanatics, ESPN Bet) hoping to make a dent in leading operators' market shares this NFL season.

Entain and Flutter US positions secure despite new entrants - broker

Flutter Entertainment, the owner of Paddy Power and Betfair; Entain, which runs Ladbrokes, Coral and Sportingbet; and William Hill owner 888 Holdings are likely to have benefitted from a recovery in UK gambling spend during a wet July, according to Deutsche Bank data.  After the hottest ever June came the sixth wettest July on record, or the third wettest in 80 years.

Flutter, Entain and 888 singing in the rain as UK gambling spend bounces back

Entain PLC (LSE:ENT) set aside over half a billion for its ongoing Turkish bribery case blowing analysts' predictions of a £200 million hit out of the water and leaving investors wondering why such a behemoth fine is being dished out. Should the betting firm be forced to pay out all its provisions it would be the second-largest fine for a deferred prosecution agreement (DPA) dished out by the Serious Fraud Office (SFO) ever.

Why Entain is facing a enormous fine and have other firms suffered a similar fate?

Entain PLC (LSE:ENT)  is making a whopping £585 million provision as it closes in on an agreement with HMRC following a probe into potential bribery offenses at the group's former Turkish subsidiary. The betting firm said the sum would be paid over a four-year period.

Entain sets aside £585 million to cover Turkish bribery probe

Persimmon PLC

Wednesday's earnings mirror that of the day before, with a housebuilder and betting group taking centre stage in the form of Entain and Persimmon interims. US inflation figures will come later in the day, at around 1.30 pm GMT, and analysts hope that a fall in CPI will help make the Fed's most recent interest rate hike the last.

Entain and Persimmon interims on Wednesday plus US inflation

Entain faces the possibility of a new bid from partner MGM according to analysts at Citi, who suggest a second bid from the US group was “plausible.” Before a bullish trading update from US joint venture BetMGM was published at lunchtime in the UK, the broker noted Entain's shares have fallen post the STS acquisition and equity raise, sterling has weakened in recent days while MGM shares have strengthened.

Entain might face new bid from MGM suggests Citi

Entain's US joint venture BetMGM has confirmed it expects to make an underlying profit in the next six months after sales continued to rise in the first half of the year. Adam Greenblatt, BetMGM's chief executive, said: “Our financial guidance for the year remains on track - we expect to deliver US$1.8 to $2.0bn in full-year revenue, as well as to be EBITDA positive in the second half of 2023.

Entain's BetMGM venture 'in profit' and close to self-financing

Ladbrokes owner Entain had its target price slashed by Peel Hunt after the broker made amendments to some of its valuation metrics. Analysts at the brokerage said its target price is calculated “based on a sum of the parts approach we have changed three inputs.

News for Entain PLC Stock (GMVHY)