Entain expands Board with Ricky Sandler
Ricky Sandler has joined Entain as the firm’s latest non-Executive Director.Having a career of more than three decades, the new appointee is an excellent candidate to...
Entain listed among top performing FTSE 100 stocks
As many have noticed, the stock market has been through many ups and downs since last year. Looking back on the crash that the market experienced last March, it’s surely been a rollercoaster to get to where the market is now. One of the most important elements to take into consideration the is the gravity of the stock market crash in a short amount of time, and looking at how quickly it was able to get back on its feet.
The FTSE 100 stock that had the best performance during the past 12 months is Entain (LSE:ENT). It has seen a massive growth of 332% during this time. In the index, 17 stocks posted their share price growth which amounted to over 100% each. What this may mean is that first of all, it is not entirely impossible to make such massive returns without needing to refer to higher risk stocks.
Entain owns and operates Ladbrokes and Coral, and its return is a lot higher than that of its rivals. Despite the fact that its share price shot down in March of last year, when the pandemic suddenly hit the world at full force, when looking at the long-term performance of the company, it is evident that if its stocks had been bought 10 years ago, they would now generate 10 times in return.
The gambling operator’s success in a long-term view is all due to the rise in the availability of gambling all over the globe. The way that Entain made good use out of this is by striking many important partnerships and deals, as well as acquiring many other firms during this time. For example, it purchased Sportingbet back in 2012, and in 2016 bought Bwin.party, then only a year later took over Ladbrokes Coral.
Aside from that, its success was also caused by the surge in gambling activity across the United States. Entain signed an agreement with MGM Resorts a few years ago, and through this deal has made great use of the loose iGaming restrictions across the country. Its results in 2020 showcased that this agreement is live in about twelve states in the US, and market share has grown by approximately 18%.
Other than the US, Entain also grew significantly in the United Kingdom, mainly throughout 2020, which helped the operator in becoming the best performing FTSE 100 stock.
Entain also took advantage of the situation throughout the past year, as more and more people were forced to stay home because of the spread of COVID-19. The problem lies in the omitting or the loosening of lockdown restrictions, as one things start to open up again, online revenues from gambling will undoubtedly decrease in some way or another.
Entain CEO Jette Nygaard-Andersen steps down
Jette Nygaard-Andersen, the CEO of Entain, has recently announced her departure from the firm.Nygaard-Andersen’s resignation has already taken effect, with the gambling...
