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It does look a juicy target right now, probably yet another FTSE company taken out by the Americans.
I agree. Anything under £8 is a snip
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
50:50, but the doctors say there's only a 10% chance of that.
Love the way Entain share price moves. Initial rally, only to lose all its gains in the rest of the session.
What odds are they offering on a rising shareprice?
Coming up to four months now with no CEO; those approached must have turned it down. What is this BoD playing at? Leaderless, clueless and directionless, very vulnerable to a cheap offer. It will be cheap because MGM Resorts can make life very difficult for any new partner. We don't know all the details of the JV but I would not be surprised if MGM Resorts do not have a veto on any buyer for Entain or possibly a buyout clause in the event of a takeover.
Wake up BoD and start earning your fees!!
AceOfClubs
There are far bigger things to think about than who won a golf tournament or which horse a race. Bookmakers love to pretend punters have given them a spanking; they just tend to make a smaller profit if the favourite wins.
Scheffler... bad news
Favourite winning the Grand National is a disaster and favourite Scotty Schefflet looking like winning the Masters is an other one
Probably won't be a full takeover be more of a asset sale if anything they need to get rid of the shops
Corals or ladbrokes could go it could be a good deal with both of them both having an online presence
I'm just not sure if anyone sees any value in the shops maybe try and sell the unprofitable shops to boylesports or paddy power they are both moving into the area
Still think they need to get rid of betmgm they must be spending a fortune on marketing
Added for a trade, looks like there is something behind the story.
Https://www.lse.co.uk/news/ENT/apollo-weighs-up-takeover-bid-for-entain-3cz5vbw5u50826k.html
Not sure why -888 up also.
I think many have realised this was way oversold. I could imagine seeing this heading back to £12 over time as a fair value
Up over 10% in two sessions.
Has Kenneth Alexander agreed to return as CEO ! ! ?
Rns out
Have they made any announcement on a new CEO hire? Whats taking so long?
Nice drop, back in with 2k shares