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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