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Share price drop is way overdone, hopefully back to £12 ish by Friday.
Top-upped @906.9. Now my break even has come down to 929.1, hoping for a good recovery tomorrow. GLA
Took a punt and bought some @943. Let's hope it will climb its way back soon. Good luck everyone and have a nice day.
It’s brave to buy now unless you feel there is a takeover offer on the cards. The dividend is very poor and the growth isn’t there based on the update
Drop is way over done and I have just bought another £2k.
Wow, this is free fall. Can see £8 coming or even £7.
Given that announcement I can see this falling below £10 soon.
Update - mixed so I am hoping sp will recover part of the recent large fall.
I have idea why, but the drop is nonsensical. 17.5% down since I have sold and still falling. Could well see this under £10 next week. I am getting ready to buy it back, lol 😁😁
Starting to make me feel really anxious with the relentless falling.. what's going off ?????
Still dropping, it's heading towards my buying range.
More than 12.5% down since I sold mine a couple of weeks ago. Will buy them back if it drops to around £10 or lower.
Lots of huge sells there has too be a buyer
MGM or Draftkings or maybe Flutter
Maybe an institution getting in ready for the bid ??
Whoever it maybe there is a buyer out there !!!!
I agree with you , When MGM agreed to set up a joint company to trade in the US and Canada it was on the basis the they would use the On line betting skill of Entain. I hope MGM are not using the information gained from Entain to trade in competition with Entain in the Euro market.
Below is my post from 29 December 2022 - I think this could get ugly.
"ENTAIN is my largest holding in a UK listed business, largely organic growth from the GVC days; so far so good.
The future is, as always, uncertain. The 50% share in BetMGM is seen as the big growth driver but I am unclear about the relationship with MGMResorts, the other 50% "partner".
In September 2022 MGMResorts acquired the Stockholm listed LeoVegas:
"In outlining the rationale for the deal, MGM said the acquisition of Nasdaq Stockholm-listed LeoVegas will provide a “unique opportunity” for the group to create a scaled global online gaming business. It said the deal will offer strategic opportunities to accelerate growth and product offerings and a commitment to continued profitable growth."
MGMResorts may be a "partner" in the USA but they clearly have no compunction about being a competitor everywhere else.
My personal experience of dealing with executives of US businesses is that they are untrustworthy, 100% focused on self-interest and are your "partner" until the day it suits them not to be. I do hope ENTAIN management is up to the task of protecting the interests of ENTAIN shareholders; but I have my doubts."
AceofClubs
Off topic but for those looking for other gambling opps also, 888 tipped as a buy in Seeking Alpha today:
https://seekingalpha.com/article/4629849-888-holdings-ltd-a-below-the-radar-sports-betting-
This news is probably the cause:
MGM RESORTS LAUNCHES BETMGM IGAMING AND ONLINE SPORTS BETTING BRAND IN UNITED KINGDOM
AUGUST 17, 2023
BetMGM-branded offering in the UK leverages the technology and platform of LeoVegas
LAS VEGAS, Aug. 17, 2023 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") announced today the launch of its BetMGM iGaming and online sports betting brand in the United Kingdom, kicking off MGM Resorts' strategy of expanding the BetMGM brand into international markets. The new international BetMGM-branded offering leverages the technology and platform of LeoVegas, the Swedish-based gaming company acquired by MGM Resorts last year.
"BetMGM is a proven brand in the sports betting and iGaming space, and we look forward to welcoming international players into our platforms designed specifically for them," said MGM Resorts CEO and President Bill Hornbuckle. "Today's announcement represents a key step forward in our international growth strategy, which has been advancing rapidly since our acquisition of LeoVegas."
The BetMGM UK online offering provides customers with exciting new product features such as large-scale and frequent jackpots, loyalty rewards, unique and compelling sports promotions and exclusive slots. The new sports and casino experience utilizes the BetMGM brand and MGM Resorts' best-in-class heritage entertainment in Las Vegas to deliver a compelling and safe online experience in the UK.
The product is available now on desktop and mobile web with further functional development, including mobile applications, planned before a national media launch in mid-September. More information can be found at: betmgm.co.uk.
"We've had great success in the U.S. and Canada with our BetMGM brand and we're confident we can duplicate this success in other markets, beginning with the UK," said Gary Fritz, President, MGM Resorts International Interactive. "The UK is a mature online gaming market, and we believe the BetMGM brand will provide distinct relevance to both sports bettors and iGaming consumers."
BetMGM, LLC, the joint venture between MGM Resorts and Entain, will continue to operate the BetMGM brand in the United States and Canada utilizing the technology and platform provided by Entain.
LeoVegas is currently available in nine jurisdictions in Europe and Canada.
Thanks for that SmoothOperator. It is still odd - dividend is 8.9p, but share price is falling by nearing 54p!
Ex dividend today
I can't find any recent negative company specific news. Share price have fallen materially for the 5th day in a row. Does anybody know?
Https://www.proactiveinvestors.co.uk/companies/news/1023630/ftse-100-live-inflation-falls-sharply-but-rate-rise-still-expected-1023630.html
2:18pm: Women’s World Cup sees more females having a punt
As the Lionesses take their place in the World Cup final, Entain has revealed the exponential growth in betting on the tournament across the globe.
The top trend seen by Entain’s UK sportsbook is the number of women betting on football.
Entain’s Ladbrokes and Coral brands in the UK recorded that the first three England games saw an average 21% of bets placed by women, compared to 17% in the 2022 Women’s Euros, and 13% during the last World Cup in 2019.
Data from Entain’s partner and official sponsor of the tournament, TAB New Zealand, showed that almost 15% of bets recorded by TAB New Zealand have been placed by women compared to 9% in 2019.
Across the pond, the strength of the US women’s team has also been credited for the rising number of US fans backing women’s football.
For the US women’s team’s opening game against Vietnam, BetMGM saw three times the number of bets compared to Lionel Messi’s debut for Inter Miami CF.
Dominic Grounsell, Entain’s chief commercial officer said: “This summer, we’re witnessing the biggest Women's World Cup in history, and around the world there is a growing audience and appetite for women’s sports.”
“The facts say it all. More of our customers are finding new ways to support their favourite teams – and that’s with a bet.“
(Reuters) - Wynn Resorts is winding down its online sports betting and iGaming platform, WynnBET, in certain U.S. states due to a lack of clear rules and higher customer acquisition costs, the casino operator said on Friday.
The company said it was ceasing operations in Arizona, Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia, and West Virginia. The decision to pull out of West Virginia comes a couple of months after it launched WynnBet in the state.
Wynn, however, said operations in Nevada and Massachusetts will continue unaffected, while those in New York and Michigan remain under review.
Wynn Chief Financial Officer Julie Cameron-Doe cited the dearth of iGaming legislation and the continued requirement for outsized marketing spend in online sports betting for the decision.
AceOfClubs
888 seems to offer much better value now than Flutter or Entain
Flutter trades at about 3x Revenue
Entain trades at about 2x Revenue
And 888 is only trading at about 0.25x Revenue
And a forecast PE of only 3
So the 888 share price could easily rise by about 300% without looking expensive
STS looks a promising addition.
Personally, I would rather be paying for the porridge of the Directors responsible for this criminality rather than suffering a £585M penalty to keep them out of prison. It isn't going to happen,;"justice", like everything else in this country, can be bought if you'r rich enough - particularly if you are using someone else's money.
Just as concerning was an article on US sports betting: the two big beasts are Flutter and DraftKings; BetMGM was very much an "also ran" that hardly got a mention. Flutter is the market leader but DraftKings was judged to have the best technology that was attracting a lot of customers. Customers are apparently very reluctant to switch once they are signed up.
BetMGM is doing much better in online gaming: that is because of the existing customer base linked to MGM Resorts casinos.
AceOfClubs