Shares in gambling group Entain rise

Shares in Entain rose by 5% after three years of the stock sliding. Is more luck on the cards for the gambling group?

Entain logo displayed on a phone screen is seen with playing cards
(Image credit: NurPhoto / Contributor)

Shares in Entain, the gambling group behind Ladbrokes and Sportingbet, rose by 5% this week following an encouraging update, says Dominic Walsh in The Times. Entain said that there had been “positive momentum at the start of the second half, with the pace of growth continuing in the third quarter”. Online UK and Ireland operations benefited from an acceleration in the rebound of gaming and sports betting, with volumes and margins improving. 

The international and central and Eastern Europe markets also did well. All this provides a “comfortable start” for new CEO Gavin Isaacs. The trading update has definitely “put a rocket” underneath Entain’s share price, helping to restore the market’s confidence in the company’s “ability to bounce back after a patchy few years”, says AJ Bell’s Russ Mould. Recent problems include a bribery investigation and allegations that it overpaid for acquisitions that have disappointed. 

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Dr Matthew Partridge
Shares editor, MoneyWeek

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.

He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.

Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.

As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.

Follow Matthew on Twitter: @DrMatthewPartri