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Which market did you mean?
From my limited experience, this fall most happens after the short opened/increased and coupled with some element of uncertainty such as announcement of UK election.
However, for specific case of Entain, I feel something positive big is coming up and thus I have dived in just a shy of £180k average 750ish now. No pain no gain, no brain no pain 🤪 Marshall Wace LLP is licking their wounds from stupidly increasing short against HL. So I hope Entain is another mistake of theirs this year.
The question is not whether Entain business is profitable because it is; its margin is tasty 🤤 already. But rather will having to share 50% of BetMGM profit annoy MGM’s strategic alignment enough to make the call and force other pe to reveal their hands? Entain won’t let their 50% go easily. MGM should have used SaaS companies for BetMGM on day one instead gone into 50/50 split partnership.
Is Friday a good time for takeover/merger announcement?
This is in absolute freefall. It's a bad sign the dip is happening when the rest of the market is trending upwards
Personally I think they have to drop to under £6 before there a chance of a takeover the predators will wait they in no hurry
Took them how long to decide to sell one minor brand and then oatbthemself on the back for everything else lol. Deary me this Barry chap is out of touch
Fair chance of a takeover based on current sp
Expecting this to shoot up to 750 today and likely 800 before the end of the week.
These are still looking very expensive on a forecast PE of over 20
Would not be surprised to see them fall to £5 or less
I believe that the board have woken up at the wheel before the impact. Ronald Kramer is a good signing and fair play to the interim, she is walking her talk with that investment, many don’t. One thing is for sure, potential suitors will know that they will have a sympathetic ear from Ricky! The potential for Entain is enormous, which is why I invested today. GLA.
Bought 20k at 739 so sitting at a loss at the moment but fingers crossed it will soon turn & hit 800 plus GLA
I've been averaging in all afternoon. Decent valuation considering potential for growth and the dividend is ok.
I have bought a fair few of these today, looks good value at current SP.
The share price weakness is not irrational. Regulation and Flutter are killing it in the UK & Ireland (with BetMGM sniping away too) and Flutter and Draft Kings are killing it in the USA.
Going the way of 888, Entain may be big but not the biggest in the gambling jungle.
AceOfClubs
I assume the interim ceo is hoping to make a quick buck when someone saves this by taking it over.
I see the interim CEO bought £1.4m worth of these about 2% below where we're sitting now. New CEO could be announced any day now and send this back in the other direction.
It does look a juicy target right now, probably yet another FTSE company taken out by the Americans.
I personally have this as my most likely 2024 takeover target. I just fail to see how this will not either be fully taken over or broken up imminently given the depressed share price, previous bids, growth opportunity and lack of CEO. The chair who stupidly turned down big money bids in the past is leaving, I think we will have to wait a matter of weeks until we see the first disposal or approach. DYOR
BoDs asleep at the wheel
Entain plc (LSE: ENT), the global sports betting and gaming group, announces the following board committee composition changes with immediate effect:
Amanda Brown is appointed as Chair of the Remuneration Committee and a member of the People and Governance Committee. David Satz is appointed as Chair of the Sustainability and Compliance Committee. Virgina McDowell will continue as a member of the Remuneration Committee and the Sustainability and Compliance Committee.
Meanwhile: Moody's on Monday lowered Entain’s (ENT.L) outlook to negative from stable, while affirming its corporate family rating at Ba1 and probability of default rating at Ba1-PD.
The rating agency said the outlook revision is based on its expectations that the betting and gaming company will not meet the Ba1 leverage guidance due to additional debt as well as board changes and the departure of Chief Executive Officer Jette Nygaard-Andersen.
Far more concerning than the indolence displayed by the Entain BoD is the declining, now third placed position, of BetMGM in the USA. Flutter (FanDuel) and DraftKings (share price up 95% in 12 months) are now the two leaders and breaking away from the "also rans". The competition in the USA is about to get even hotter. ESPNbet and a company called Fanatics are apparently geared up to enter the market and are very well funded. When they throw that funding into their marketing effort some existing participants will get damaged.
No reason to buy here, only holding on for a bid (which could be a bad bet).
AceofClubs
In corals for past 2 hours
I've seen more staff than customers
They can't be making any money when you factor in electric rent and staff
And they have tons of shops around the country all the same no customers
Someone need to ask at next earning call what the profit margins are and ask them to close the unprofitable shops
Outgoing Chair Barry Gibson had 5.36% votes against him. Just as well he's going. More worrying is new Board member Ron Kramer has 15.34% vote against him. Hardly a strong endorsement. Wonder what the shareholders who voted against him know and should we be worried? Not impressed by Virginia McDowell 4.13% votes against either. This Board really needs to step up to gain shareholder confidence. A new CEO with relevant experience and a good reputation and from outside the company would be a start. Wish they would live up to their fiduciary responsibilities.
I work in retail gambling most shops are empty
Retail revenues down 7% year on year every companies retail is down
I'd love to know which shops are profitable
Have a look at the ladbrokes and corals In your area and see if their full
Obviously someone who has no idea about the rerail business. The shops are thriving.
Yes. very odd it has taken so long to find another CEO. Maybe old Chair was the block? Him going probably a positive, but concern new Chair is an insider and will be same old same old. Need new CEO, New Board, New Chair, new strategy.
Uk and Ireland retail is cooked only a matter of time before shops are getting shut or sold