EXPERTS WORLD NEWS Entain ‘remains confident’ but ‘open to constructively addressing’ investor concerns 3 months ago Szarlot Post Views: 449 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 HOT NEWS UGANDA Comtrade gaming rolls out central monitoring system in Uganda 12 hours ago Szarlot EXPERTS KENYA Betting Board Launches Renewed Campaign On Illegal Gambling Dens 13 hours ago Szarlot ONLINE WORLD NEWS Curaçao Gaming License explained by Slotegrator 13 hours ago Tools EXPERTS NIGERIA Joining us as a speaker at AGE Lagos is Olajide Boladuro 4 days ago Samuel EXPERTS Booming Games Enters African Market Via BetFounders Partnership 5 days ago Iwo Bulski EXPERTS NIGERIA Changes and Challenges in Nigeria’s Gambling Industry 6 days ago Samuel EXPERTS NIGERIA Zu Tohtayeva will be joining us as a speaker at AGE LAGOS 2024 6 days ago Samuel CASINO WORLD NEWS Novomatic has appointed Stefan Krenn as a new member of its Executive Board 6 days ago Iwo Bulski EXPERTS GHANA GRA’s 10% tax on games of chance: A double-edged sword? 6 days ago Szarlot ETHIOPIA EXPERTS Ethiopia’s $250 Million Bet on Bitcoin Mining and AI 6 days ago Samuel ONLINE WORLD NEWS Pragmatic Play ignites blazing rewards in Pompeii Megareels Megaways 7 days ago Iwo Bulski EXPERTS NIGERIA When Gbajabiamila was honoured in UK for transforming lottery to entertainment in Nigeria 7 days ago Samuel 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.