26 Oct 2015 07:29
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Don't have an account? Click here to register.Ladbrokes given a boost by Berenberg upgrade
Fri, 26th Aug 2016 08:46
(ShareCast News) - Berenberg has raised its rating on Ladbrokes to 'buy' from 'hold' and lifted its target price to 185p from 130p, saying the company is its second favourite stock in gaming after Playtech.The broker said since it initiated on Ladbrokes a number of positives have materialised with first half results beating expectations, the merger with Coral receiving approval and Boylesports proposing to buy around 360 shops to be disposed."We expect Coral to report strong numbers on 31 August, earnings momentum to continue; we therefore revisit our numbers and upgrade the stock to 'buy'.""The stock is up (c15% in one month), but it is not too late to join the rally."Earlier this month, Ladbrokes reported a 13.1% rise in first half revenue to £661.8m and a 61% increase in pre-tax profit to 339.8m, supported by favourable sporting results and a higher number of placed bets.Group revenue was driven growth in its online division, where revenues rose 41% to £158m. Berenberg expects Coral's third quarter results will show trends "at least as good as in its previous quarter" with a 9% year-on-year rise in revenues."We have therefore increased our estimates for both companies, which has resulted in 15% higher earnings per share 2017-2018E for the combined entity."Shares climbed 2.74% to 161.20p at 0940 BST.
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25 Oct 2015 21:05
Caledonia Investments to buy Gala Coral bingo chain - Sky News
Oct 25 (Reuters) - Britain's Caledonia Investments Plc is set to buy a chain of bingo halls from gaming group Gala Coral for 240 million pounds ($367.46 million), Sky News reported on Sunday. The deal, which would include more than 130 Gala bingo clubs and a 30 percent market share, is exp
Read more23 Oct 2015 10:14
UPDATE 2-William Hill under pressure to raise its game after profit warning
* British bookmaker says Q3 revenue down 9 pct * Sees full-year profit below analysts consensus range * Has fallen behind in sector consolidation * Shares down more than 6 pct (Recasts, adds CEO comment, detail, updates shares) By Aastha Agnihotri Oct 23 (Reuters)
Read more23 Oct 2015 07:24
BUZZ-William Hill: profit warning sends stock to >1-yr low
** Shares in British bookmaker William Hill Plc fall 5.8 pct to lowest levels since June 2014, as co warns on FY profit after disappointing Q3 results ** Betting company says its net rev fell 9 pct in 13 weeks to Sept. 29; oper profit slumped 39 pct ** Heavy taxation & stern regulatio
Read more22 Oct 2015 16:08
London close: Stocks close higher as ECB leaves door open to more QE
(ShareCast News) - London stocks closed higher after earlier declines as the European Central Bank's president fuelled hopes of further stimulus. Mario Draghi said the ECB will re-examine its quantitative easing programme in December and would consider extending €60bn monthly purchases past the plan
Read more22 Oct 2015 13:37
FTSE 250 movers: SIG's outlook drives market down
(ShareCast News) - The FTSE plunged shortly after opening and by mid-afternoon sat at 16,936.86 points, down 99.82 (0.59%). SIG led the market down, dropping over 20% after it revealed it is expecting a fall in underlying pre-tax profit for the year due to challenging market conditions in mainland E
Read more22 Oct 2015 07:58
Ladbrokes results encourage as Mullen's strategy takes shape
(ShareCast News) - Ladbrokes shares raced higher as Thursday's third-quarter results met forecasts but were somewhat mixed as new chief executive Jim Mullen's plans take effect, with underlying revenue growing but operating profit falling sharply. The bookmaker reported a strong start to the footbal
Read more22 Oct 2015 07:36
22 Oct 2015 07:21
22 Oct 2015 06:50
15 Oct 2015 15:09