Stocks Tracker: Landmark deals, record results and restructures lead to a middling Q4 start
EGR analyses the share price movements of major industry players in October, including Betsson, Entain and Kambi
Betsson
2 October closing: SEK 117.22
31 October closing: SEK 112.47
Peak October closing: SEK 117.22
An impressive set of Q3 results helped save the Stockholm-listed operator from what could have been a difficult-looking month on the stock market, as it experienced a low point of SEK103.49 on 13 October.
Betsson opened the month at a closing price of SEK117.22, and that was to be the firm’s peak closing price for the whole month as the company’s share price had a steady decline until the release of its financial report towards the end of the month.
A relatively quiet month for the operator failed to create any shockwaves on the Nasdaq, as it wasn’t until the final week it saw an uptick.
On 26 October, Betsson released its Q3 financial report which showed a seventh consecutive quarter of growth in revenue and earnings for the Pontus Lindwall-led operator.
The firm posted a 19% year-on-year (YoY) increase in revenue to €237.6m, and EBITDA rose 42% YoY, reaching €68.9m.
Following the report’s release, the operator’s shares rose by 3% from a previous close of SEK104.29 to SEK107.4.
Following that initial increase, another spike to SEK111.8 to close out the week was met with a plateau for the remainder of the month, meaning Betsson escaped with just a 4.5% monthly dip in its stock.
Entain
2 October closing: 941p
31 October closing: 930.40p
Peak October closing: 962p
Entain kicked off Q4 by completing its acquisition of the sports modelling, forecasting and data analytics firm Angstrom Sports.
An initial consideration of £81m was payable on the completion of the deal, and there is an additional £122m contingent payment, which is payable over three years.
The news saw Entain’s share price on the opening day of October reach 941p at its close, representing an increase on the previous Friday’s close of 932.80p
In the opening week of the month, the operator’s share price fell to its lowest point in the month, 902.6p, but by the end of the week, shares had rebounded to 927.6p.
The following week also brought fresh news from the FTSE 100 firm, as it announced that it would be shuttering its B2C operations for its Unikrn esports betting brand and refocusing the tech across in-house brands.
An initial downturn on Monday 9 October to 921.40p was followed by a monthly high of 962p the following day, as the remainder of October represented a series of ups and downs.
The operator saw gentle declines in its share price in the second half of the month, which showed a slight uptick towards the backend in anticipation of the firm’s Q3 trading update.
Kambi
2 October closing: SEK 160.70
31 October closing: SEK 159.90
Peak October closing: SEK 174.20
It was a landmark month for Kambi as the supplier signed two significant deals with LiveScore Group and Svenska Spel. Kambi’s starting and finishing share price might show that the supplier had a stable month, but in reality, there was quite a fluctuation in Kambi’s stock throughout the period.
The start of the month saw the first of the landmark deals, the long-term sportsbook platform and front-end agreement with Svenska Spel on 3 October.
This deal saw Kambi’s share price rocket 8.4% to SEK174.20, which would be the peak closing price for the whole month. By the end of the first week, the business’s share price was sitting at SEK171.40, and that was to be the highest it would reach for the rest of October.
In the next couple of weeks, the share price steadily dropped, landing at SEK153.10 at close of trading on 20 October. There was a gentle pick-up towards the end of the month, with the share price almost reaching the same price it started the month with on 30 October, closing at SEK160.
This pick-up could partly be due to the second landmark deal with LiveScore Group on 30 October. Kambi signed a partnership with the operator to power its LiveScore Bet and Virgin Bet online sportsbook brands globally.
Kambi closed the month at SEK159.90, which was only a 0.5% drop-off from where it started the month.