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Potentially higher taxes in some U.S states. Will have a big impact on expansion for the likes of flutter, won't affect entain as much.
What are the new US gambling laws?
Would expect this to hit back towards 700 before the day is out.
Thank you sellers, back in at 665
I mean they want to eat the golden goose before its even begun laying, given the level of deficits in the US, you do wonder if other states will follow suit, and if they do, the US opportunity suddenly looks overpriced, so yeah, concerning move tbh and has made me reassess the sector quite hard now
We hit 691p a while ago. No wonder when flutter is down 5 per cent today with the new gambling laws in the US
Sp remaining above 700 so far. Just takes a slow day in the markets to drag it into the 690s.
"The question is not whether Entain business is profitable because it is; its margin is tasty 🤤 already."
2023: Net Loss £835.8M, Free Cash Flow Collapsed, Net Debt Increased. Share price has halved in 12 months.
Leaderless, rudderless and clueless management - a sitting duck for a really cheap shot.
AceOfClubs
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