Gaming

Updates confirm 2020 challenges – medium-term implications more critical

  • Sectors : Gaming
  • Companies : GAN | Flutter Entertainment | GVC Holdings | William Hill plc

Ratings

Ratings and price correct at time of issue

Company Rating Date Previous Rating Date Closing Price
Flutter Entertainment OUTPERFORM 08/05/19 Neutral 29/08/17 5710p
GAN NEUTRAL 13/09/19 N/A N/A 82.0p
GVC Holdings NEUTRAL 13/12/17 N/A N/A 370p
William Hill plc NEUTRAL 13/02/14 Outperform 16/02/11 65.9p

DAVY VIEW

Following on from Flutter Entertainment’s (Flutter) announcement this morning, The Stars Group (TSG), GVC and William Hill (WMH) have all provided updates in relation to the potential impact from COVID-19. While the ultimate effect from the disruption will not be known for some time, the sensitivity of each group’s earnings will depend on its exposure to sports, the importance of Retail in a group context and, importantly, its pre-disruption balance sheet strength. Beyond this near-term impact, the effect of COVID-19 on medium-term opportunities and prospects is the key outstanding question. We provide a brief summary of each company’s update below.

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Mar 17 2020, 07:10 GMT

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