Entain and Flutter Entertainment increasingly looking to the US market for growth
Both declare results in the first week of March and the smart betting is that their activities in the US will likely garner the most attention.
Company
LON:ENT
Entain PLC, formerly GVC Holdings, is one of the world’s largest sports betting and gaming groups, offering sports betting, casino, poker and bingo and operate some of the industry’s largest online brands including bwin, Sportingbet, partypoker, partycasino and Foxy Bingo. In March 2018, as GVC, the group acquired Ladbrokes Coral to become the UK’s largest high street bookmaker, adding retail and online gaming brands, Ladbrokes, Coral and Gala to the portfolio. The Group, headquartered in the Isle of Man, has licences in more than 20 countries and has been trading since 2004, when it started out on AIM as a provider of services to the online gaming industry.
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Both declare results in the first week of March and the smart betting is that their activities in the US will likely garner the most attention.
Another huge week for results ahead with US jobs data to top it all off on Friday
The bookmaker's target price was set at 2,400p by the broker, versus a closing price of 1,684.5p
The broker said it is “increasingly bullish on the size of the US prize”.
Ladbrokes owner reckons it can treble the size of its business
Net revenue from the sports betting venture is expected to be about US$850mln in 2021
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London's blue-chip index finished the day on a high note
The bookmaker plans over £100mln investment in ESG over the next five years
DraftKings is prevented from making a bid for Entain for six months unless another bidder emerges for the UK bookmaking business
A put up or shut up option has been extended until 16 November
Mining is the sector that has done best since the FTSE 100 was last at its current levels (in February 2020) while the housebuilding sector has done surprisingly badly.
The American gaming group has tabled an indicative £16.2bn bid its UK rival
Since walking away from a rejected 1,383p offer in January, MGM has accumulated more cash on its balance sheet
The FTSE 100 bookmaker and online gaming group said it rejected an earlier offer from the US company at a price of 2,500p
The FTSE 100 group rejected an all-share offer from MGM Resorts in January that was worth around £8bn at the time
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The UK's leading index closed in positive territory while US markets edge higher ahead of this week's key meeting of central bankers and policymakers
BetMGM, the US joint venture with MGM Resorts, maintained its number-two spot with a 22% market share
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Also in the diary are fund manager Abrdn, Holiday Inn owner IHG and holiday giant TUI
A lot of punters backed Harry Kane to win the Golden Boot when his odds drifted out to 50/1 before the England-Germany game.
New products around its Betbuilder concept, such as 'five-a-side', 'your call' and 'get a price' have accounted for a quarter of all UK bets in the tournament