GVC Holdings PLC - Geben Sie Ihre Meinung im Forum ab! (Seite 4)

[Brokerjay]

https://tools.eurolandir.com/tools/Pressreleases/GetPressRel…

Eminance Capital setzt Herrn Sandler ins Board bei Entain. Das wird alles wieder spannender richtung MGM

[Brokerjay]

Private jette :-)

Da hab ich zu wenig drauf geachtet. Die Bilder und Darstellung von ihr ist eindeutig. Da Ist wenig Demut.

Von 9 nun auf 11 in zwei Wochen tut gut.

In der jetztigen Phase wäre ein Übernahmeangebot gut platziert. Chaos Im Vorstand. MGM hat 40% zugelegt, d.h. auch ein Kauf mit Aktien wird für MGM günstiger. Entain ist günstig wie lange Nicht mehr.

[mp2019]

Antwort auf Beitrag Nr.: 74.960.167 von Brokerjay am 13.12.23 20:29:57

Zitat von Brokerjay: Kann Ich nur begrüßen.

Ihre Bilanz ist desaströs.

Das kann man so unterschreieben aber hauptsache privatJet , bloß weg mit der.


https://www.ft.com/content/46bd40b6-19e0-4132-b303-a23a63d7c…

As a former head of Scotch whisky group William Grant, Entain’s new interim chief Stella David should be familiar with the works of Walter Scott. She and Entain shareholders may struggle to look back on perils past and smile, however.

David has been parachuted in to the top job at Entain following the immediate departure of Jette Nygaard-Andersen. Nicknamed “private Jette” for her reliance on non-commercial flights, she had been under pressure over a 38 per cent fall in Entain’s share price this year. Investors had also questioned a costly bolt-on M&A strategy. David will have a rough journey herself to restore confidence.

London-listed Entain’s shares now trade nearly 40 per cent lower — worth some £5bn — than the 2021 level that an MGM Resorts’ all-stock offer had valued it. Just as painful, later that year DraftKings had examined a deal that had valued Entain’s equity at £16.4bn.

[Brokerjay]

Antwort auf Beitrag Nr.: 74.956.795 von mp2019 am 13.12.23 12:51:53

Kann Ich nur begrüßen.

Ihre Bilanz ist desaströs.

[mp2019]

https://www.gamesundbusiness.de/ceo-jette-nygaard-andersen-v…

[mp2019]

Entain Fine on Bribery Charges Includes Demand to Exit Latin America

Posted on: December 11, 2023, 07:58h.

Last updated on: December 11, 2023, 12:21h.

https://www.casino.org/news/entain-can-avoid-fine-on-bribery…


📉

[mp2019]

Press release - 5 December 2023 15:35
Gambling giant agrees to pay £615 million in deferred prosecution

Ladbrokes owner formerly known as GVC finalizes UK deal
Fine is one of the largest UK corporate criminal settlements

https://www.bloomberg.com/news/articles/2023-12-05/entain-re…

https://www.mynewsdesk.com/uk/hm-revenue-customs-hmrc/pressr…

[mp2019]

https://www.marketscreener.com/quote/stock/MGM-RESORTS-INTER…

the owner of Ladbrokes and Coral, has updated investors on the performance of BetMGM, its US joint venture, ahead of a presentation to analysts and investors later today.

The betting operator said the JV will deliver revenue in 2023 towards the upper end of the US$1.8-US$2.0 billion range and achieve EBITDA profitability in the second half.

The firm said key enhancements in both digital sports and market-leading iGaming product are presenting the opportunity to invest competitively behind the brand, driving accelerated player acquisition and aiding player retention.

The presentation will also provide clarity on why 2024 is an investment year to drive enterprise value for shareholders together with the setting of a target of approximately US$500 million EBITDA in 2026.

The presentation will be hosted by BetMGM's CEO Adam Greenblatt and CFO Gary Deutsch.

[mp2019]

Goldman Sachs downgrades Entain to ‘Sell’

Goldman Sachs has downgraded Entain [LON:ENT], the owner of Ladbrokes, to a ‘Sell’, shifting from its previous ‘Buy’ rating. The bank has also reduced its target price to 820p from 1,450p. The downgrade was attributed to disappointing online growth, BetMGM (joint venture) losing market share in the US, and a larger-than-expected settlement in Turkey. Despite the downgrade, 13 out of 20 analysts maintain a ‘Buy’ rating for the stock, with a median target price of 1,613p according to LSEG data. Last week, Entain agreed to pay a GBP585m (USD728.97m) penalty under a deferred prosecution agreement with the UK’s Crown Prosecution Service, concerning alleged bribery offences at the company’s former Turkish unit.

Entain shares were trading at 834.4p at the time of writing, down 38% this year and down 40% over the last 12 months.


The investment bank noted they have been wrong on Entain previously due to the company's disappointing online growth, owing to a mix of regulatory headwinds, competition, market dynamics, and unfavourable sports results "contributing to material downward consensus EPS revisions." In addition, they pointed to the joint venture with BetMGM losing market share in the US and the larger-than-expected £585 million HMRC settlement.

"Our prior Buy thesis looked for Online growth to inflect from 3Q23, and the US JV to become meaningfully profitable in 2024 and potentially return capital to the parents (acting as a catalyst for the JV's value to be recognised within Entain), together driving a re-rating from a seemingly attractive EV/EBITDA multiple on our prior estimates," explained the analysts.

"We now believe the inflection of fundamentals will take longer to come through, leading us to cut our estimates (by c.30% at EPS for FY24/25E). On our new estimates, we view Entain's valuation (2.2% 2024E GS FCF yield (or 4.9% excluding the year's HMRC settlement payment) vs. our coverage median at 6%) as relatively demanding on fundamentals, when set against our broader coverage," they added. "As such, absent external catalysts (e.g. an approach), we would expect the shares to continue to underperform within our coverage on a 12-month view."

https://www.investing.com/news/stock-market-news/entain-down…


Aufgrund von Rechtsriskiken und Regulierung ist eine Überlegung sich hier zu verabschieden und die -20 % Realsieren. Bis auf Übernahme fällt hier akteull kein Kurs Katalysator ein?

[mp2019]

Activist investors pile pressure on Ladbrokes owner Entain
Hedge funds take aim at chief executive of UK gambling company


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https://www.ft.com/content/36549356-503d-4441-aa7c-8fdb8cd85…

Entain faces growing investor unrest after two more US activist hedge funds voiced concern over the gambling group’s languishing share price and the ability of chief executive Jette Nygaard-Andersen to revive the FTSE 100 company’s performance.

New York-based funds Sachem Head Capital Management and Dendur Capital have built positions in the owner of Ladbrokes and Coral brands, according to five people familiar with the situation. They join Eminence Capital, a Wall Street activist that also owns a stake and went public with its grievances in June.

The activists are concerned about flagging sales in Entain’s core markets, including the UK, where regulators have cracked down on the online betting industry, as well as a series of management mishaps and costly deals, the people said.

The highest-profile of these was an equity raise this summer that helped fund the takeover of a Polish gaming company but hurt Entain’s share price.

After 23 straight quarters of double-digit growth in online revenues, Entain in September warned it expected a “low single-digit per cent” fall in pro forma online gaming revenues this year.

Its share price has tumbled this year by more than a third to a three-year low. By contrast, the share price of rival Flutter has climbed 11 per cent this year.

After the Financial Times reported activist pressure on Entain on Wednesday, the share price rose by 5.8 per cent to £8.80 in afternoon trading.

The activist investors have met regularly with Entain’s top executives in recent months. Nygaard-Andersen has become a lightning rod for criticism. A former non-executive director at Entain, with little experience in the gambling sector, she was drafted into the top job in January 2021, after her predecessor suddenly quit during a takeover bid.

One person familiar with the activists’ thinking said Entain had suffered from “a lot of self-inflicted wounds”. Shareholders had “lost faith” in Nygaard-Andersen and would seek her removal in the coming months, they added.

Entain earlier this month pledged to install four new non-executive directors to its board to fill gaps following departures this year. The activists want Eminence’s founder, Ricky Sandler, appointed to the board and to have a role in filling the outstanding vacancies, according to people familiar with their thinking.

In a statement to the Financial Times, Entain said it was “committed to constructively addressing any questions or concerns” of shareholders, adding that it recently laid out “a clear plan” to expand the business organically, improve margins and win market share in the booming US betting market.

A person close to Entain pointed to the re-election of Nygaard-Andersen with more than 99 per cent of shareholder support at the group’s annual general meeting in April.

Sachem Head, Dendur and Eminence all declined to comment.

Under Nygaard-Andersen, Entain has made 11 bolt-on acquisitions of gaming companies, with varying degrees of success. In June, Eminence published a letter criticising Entain’s decision to raise £600mn of equity to help bankroll the £750mn takeover of Polish betting operator STS.

The share price slump has pushed Entain’s market capitalisation to £5.2bn, well below the value of 2021 takeover offers the group received from Las Vegas-based casino group MGM International and Boston-based sports betting operator DraftKings. A person close to Entain said its response to the bids had been driven by shareholders’ feedback.

Eminence first took a stake in Entain in late 2020 and now owns between 4 and 5 per cent of the stock, according to a person close to the firm. Sachem Head and Dendur bought stakes following the flurry of takeover approaches in 2021, betting that the FTSE 100 group would attract more suitors. The pair’s shareholdings are below the UK disclosure threshold of 3 per cent.

Entain’s chair Barry Gibson has encouraged the investors to be patient with their demand for board seats to avoid derailing the group’s negotiations over an estimated £585mn settlement with UK authorities relating to historic bribery charges linked to a former Turkish subsidiary. The agreement could be reached as soon as next month.

Adding to the pressure on Entain, two London-based hedge funds, Martin Stapleton’s Perbak Capital Partners and Ilex Capital Partners, have taken short positions against the company worth more than £25mn each in recent months, according to public filings. Perbak and Ilex declined to comment.

One bright spot for Entain is its joint venture with MGM — BetMGM — which is the third most popular betting app in the online US market. While some shareholders still hope that MGM will return with a bid for Entain, MGM’s chief executive Bill Hornbuckle earlier this month downplayed the prospect of a second approach in the near future.

https://www.ft.com/content/36549356-503d-4441-aa7c-8fdb8cd85…



Ladbrokes-owner Entain reaches settlement deal on Turkish bribery prob
The owner of Ladbrokes and Coral betting shops said the terms of the agreement were in line with the 585-million pound ($729 million) provision announced in August, and would now seek final judicial approval on Dec. 5.

CPS prosecutes criminal cases that have been investigated by the police and other organisations in England and Wales.

https://www.marketscreener.com/quote/stock/ENTAIN-PLC-400500…