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Mar 17 2020, 07:10 GMT
Gaming
Updates confirm 2020 challenges – medium-term implications more critical
- Sectors : Gaming
- Companies : William Hill plc | Flutter Entertainment | Entain | GAN
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 |
| Entain | 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.
