EXPERTS WORLD NEWS Entain ‘remains confident’ but ‘open to constructively addressing’ investor concerns 12 months ago Szarlot Post Views: 511 Industry giant Entain is once again in the headlines following increasing pressure from activist investors, who have reportedly begun to call into question the financial decision-making of the company and the capability of CEO Jette Nygaard-Andersen. An open letter was sent to the company back in June from investment firm Eminence Capital regarding Entain’s acquisition of STS Holdings for £750m ($941.3m). The deal was one of many made across 2023, including 365scores in April and Angstrom Sports in July. Back in June, Eminence Capital called Entain’s decision-making into question, stating: “While we can support the company pursuing seemingly rational acquisitions, funding them with highly undervalued equity is an empire building, shareholder value-destroying strategy.” Now, more recently, Sachem Head Capital Management and Dendur Capital have been reported to have joined Eminence Capital in criticising the organisation’s performance and taking positions within the company. This has seen Entain’s share price increase from £8.16 yesterday to around £8.76 earlier today, notably causing more of an impact than when Entain’s own Board members purchased shares earlier this month. Entain has not been reporting financial losses or a decrease in gaming revenue in the past year. In Q3 2023, the company reported a 7% increase in net gaming revenue (NGR); however, this growth rate is half of that seen at the start of the year, with Q1 2023 reporting NGR growth of 15%. Moreover, when analysing stock prices, it is clear to see that in the third quarter, prices have dipped significantly. At the time of writing Entain stock prices sit at £8.68. Compare this to the year-to-date high of £15.88 reported on 3 February. When Gambling Insider reached out for comment, a statement from the company said: “We constantly engage with all of our shareholders, and are committed to constructively addressing any questions or concerns that they may have. The executive team recently laid out a clear plan, with the full support of the Board, to accelerate the actions that we are taking to drive sustainable organic growth, expand our margins, strengthen the team, capitalise on the US opportunity, and deliver long-term value for our shareholders. We remain confident in our ability to deliver on the significant growth opportunities that are ahead of us.” Source: gamblinginsider.com About Post Author Szarlot I am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry. See author's posts SzarlotI am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry. Facebook Twitter LinkedIn Email Print Tags: Eminence Capital, Etain Continue Reading Previous Top 10 African payment trends for 2024Next President Ruto unveils plan to privatise 35 state companies in Kenya More Stories EXPERTS SOUTH AFRICA The role of Central banks in shaping crypto betting policies in Africa 4 hours ago Samuel CASINO WORLD NEWS Exploring top travel destinations for gamblers: Where to play and what to see 5 hours ago Samuel ONLINE WORLD NEWS New partnership: Endorphina and GBO group 1 week ago Iwo Bulski EXPERTS WORLD NEWS Endorphina nominated for best slot game provider at Sigma Europe 2024 1 week ago Iwo Bulski EXPERTS UGANDA What algorithms tell us about our borrowing habits 1 week ago Samuel EXPERTS NIGERIA Which Operators Secure Nigerian Sports Betting Licences 2 weeks ago Samuel ONLINE WORLD NEWS Pragmatic Play releases a sugary journey with Candy Corner 2 weeks ago Iwo Bulski EXPERTS SOUTH AFRICA SA Gaming Marks 15 Years with Premium Live Game Offerings at SiGMA Europe 2024 2 weeks ago Iwo Bulski CAMEROON EXPERTS Online Gambling in Cameroon: Trends, Platforms and Security 2 weeks ago Samuel CASINO WORLD NEWS SCCG Management partners with Slot Machines Unlimited 2 weeks ago Samuel EXPERTS SOUTH AFRICA Charting South Africa’s exponential growth: the insider view 2 weeks ago Szarlot EXPERTS WORLD NEWS NOVOMATIC builds the Group’s largest photovoltaic system in Lower Austria 2 weeks ago Iwo Bulski Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.