|Bid||165.90 x 0|
|Ask||166.80 x 0|
|Day's range||160.50 - 170.00|
|52-week range||111.00 - 462.30|
|Beta (5Y monthly)||0.91|
|PE ratio (TTM)||1.77|
|Forward dividend & yield||0.15 (9.08%)|
|Ex-dividend date||30 Apr 2020|
|1y target est||N/A|
(Bloomberg) -- Britons stuck at home due to the coronavirus outbreak are hitting the online casinos, providing a boost for operators of virtual games such as blackjack and roulette.888 Holdings Plc said Tuesday it’s seen increased customer activity in the casino and poker operations that make up the majority of its revenue, echoing comments made on March 19 by gambling-technology firm Playtech Plc.The “encouraging” update from 888 reinforces the view that gambling companies can mitigate losses arising from the cancellation of sporting events, Gavin Kelleher, an analyst at broker Goodbody, said in a note. 888 got about 15% of revenue from sports betting in 2018.888 stock soared as much as 38% Tuesday, the most ever, paring a plunge that followed widespread postponement of sports from soccer to horse racing as well as broader concerns about the virus’s impact on the economy. The shares are down 33% in the year to date, much less than the 77% drop for bookmaker William Hill Plc, which relies more on sports.Among 888’s closest peers, Gamesys Group Plc has risen about 32% since the firm said March 17 it’s seeing “good momentum across the business.” But despite Playtech’s comments, its stock is down about 56% over the past month.Peel Hunt analysts Ivor Jones and Douglas Jack warned last week that Playtech’s live casino operation requires a large number of employees to be in the same place at the same time, operating tables that are streamed to people playing online. The U.K. announced a ban on all unnecessary movement of people for at least three weeks on Monday.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The company, the world's biggest supplier of technology for online gaming operators but now also a major gambling platform in its own right, said it was taking a major hit from the halting of sports events across the world. The delays in rolling out major sporting events have extracted a heavy toll on its B2B division, which is expected to book a loss of 4 million euros per month to adjusted earnings before interest, tax, depreciation and amortization (EBITDA). Playtech's poker and bingo businesses saw an increase in activity in recent days due to restrictions on movement imposed by governments.
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The company said the outbreak dented recent trading at its Snaitech unit, Italy's biggest sports betting firm. Italy has emerged as an epicentre of the rapidly spreading illness with more than 400 cases, centred on the industrial heartlands of Lombardy and Veneto. The number of new coronavirus infections inside China - the source of the outbreak - was for the first time overtaken by fresh cases elsewhere on Wednesday.
We often see insiders buying up shares in companies that perform well over the long term. Unfortunately, there are...
Vinted, an online marketplace for second-hand clothes, has surfed a sustainable fashion wave to become Lithuania's first technology startup to reach "unicorn" status with a valuation of over $1 billion. The company, created in 2008 as one founder wanted to give away surplus clothes after moving to a new house, is growing rapidly as the fashion industry comes under growing scrutiny for fuelling a throwaway culture. In a sign of the times, Anna Wintour, the editor of Vogue and one of the most powerful voices in fashion, told Reuters the industry needed to pursue more sustainability and that fashionistas should care for their clothes and pass them on.
The company had forecast in August its full-year adjusted core earnings to come in between 390 million euros ($430.95 million) and 415 million euros. "Following a positive start to the second half, trading conditions in TradeTech have been highly challenging during September and October," the company said, adding that it would be reviewing all options for the division which develops technology for financial trading. Playtech, however, reported strong growth in its other core gaming divisions.
It now expects Asia business to contribute 115 million euros ($127.4 million) to its annual revenue compared with its prior estimate of 150 million euros. "Asia remains volatile with low visibility," the company said and announced steps to offset the drop in performance in the region through a plan to reward sub-licensees for promoting its content and by launching new games. Its total revenue for the six months ended June 30 surged 69% to 736.1 million euros, helped by growth in regulated markets.