entain
Entain PLC (LON:ENT) saw its full-year Net Gaming Revenue (NGR) rise 10% to £4.3bn, ignoring the effect of exchange rates and excluding the BetMGM joint venture in the US. That reflected a 66% rise in Retail and a 2% decline in Online as comparative periods lapped Covid lockdowns. BetMGM reported NGR of $1.44bn, an increase of 71%, and is on track to be cash positive in the second half of 2023. Including Entain’s 50% stake in this joint venture, Entain’s NGR grew 15%. Q4 2022 hedge fund letters, conferences and more The number of active online customers rose to record levels, up 7% on last yea...
ValueWalk
Sports betting and gaming company Entain PLC (LON:ENT) is set to invest $133 million in an innovation lab to develop immersive gaming in the metaverse. The initiative, known as Ennovate, will include partners the likes of Verizon Communications Inc (NYSE:VZ), BT Group (LON:BT.A), and Theta Labs. Q4 2021 hedge fund letters, conferences and more Metaverse AmbitionsAs reported by CNBC, gaming company Entain is launching Ennovate, a project conceived to develop immersive gambling and entertainment in the metaverse. The initiative comprises the funding of several start-ups and the development of ap...
ValueWalk
US-based betting firm Draftkings Inc (NASDAQ:DKNG) has announced it will not be making an offer to acquire Entain PLC (LON:ENT). Q3 2021 hedge fund letters, conferences and more Entain management confirmed the two were ending discussions and said it would remain committed to the growth and sustainability strategy as laid out this summer. The shares fell 6.7% following the announcement DraftKings Will Not Be Acquiring EntainLaura Hoy, Equity Analyst at Hargreaves Lansdown: “DraftKings closed the door on a possible Entain acquisition, which disappointed the market. Shares fell as investors diges...
ValueWalk
Entain PLC (LON:ENT) has confirmed that it’s received two approaches to buy the company from Draftkings Inc (NASDAQ:DKNG). The first at £25.00 a share was rejected. The second mixed cash and shares deal offer values Entain at £28.00 per share, reflecting a 46.2% premium from the group’s closing share price on 20 September. Q2 2021 hedge fund letters, conferences and more Entain management confirmed they are considering the offer. The shares rose 8.7% following the announcement. DraftKings Offers To Acquire EntainLaura Hoy, Equity Analyst at Hargreaves Lansdown: “US sports betting company Draft...
ValueWalk
Entain PLC (LON:ENT)’s net gaming revenue (NGR) rose 11% at constant currency to £1.8bn, as strong growth in online gaming offset weakness in retail, due to Covid-related shop closures. [soros] Q2 2021 hedge fund letters, conferences and more Underlying profits fell 12% to £205.6m, as a good result in the core business was offset by a £78.2m loss related to Entain’s stake in BetMGM. Underlying cash profits rose 12% to £401.5m, with guidance for the full year unchanged at between £850m and £900m. The board did not propose an interim dividend, but expects to be in a position to start paying divi...
ValueWalk
Travel sector flies into brighter skies but global recovery concerns weigh on FTSE 100 Q2 2021 hedge fund letters, conferences and more Airlines and travel stocks set off on a flight path to recoveryFTSE 100 falls 1.8% but began afternoon climbing back upFTSE 250 falls 1.2% but claws back some lossesMining, house builders and financial stocks in the redInternational Consolidated Airlns Grp SA (LON:IAG), Entain PLC (LON:ENT) and Just Eat Takeaway.com NV (LON:JET) on a small island of risersGood News For The Travel Sector"After months of stomach turning turbulence, the travel sector has flown in...
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