Market's view on 888 Holdings
Published on April 2024
- Some stock watchers express doubt over the profitability of a company’s return on Africa, questioning whether they are covering costs.
- The company is continuing its expansion in regulated African markets, launching 888 bets in Angola through NE Group. Some watchers expect further expansion in the upcoming months.
- There are predictions of a potential drop into the 70p’s again, leading some watchers to consider topping up their shares.
- There are concerns over shorties being active in the US market, suggesting risky dealings.
- Concerns have been raised over a new £100m fine for breaking regulations and the potential for more fines due to numerous complaints at gaming commissions.
- Some watchers are optimistic about the fine, believing that the company has already set aside £116 Million for this eventuality and that it will not impact current operations.
- There is some speculation about a potential name change for the company, with one watcher suggesting “Evoke.” Others express concern over this, believing a name change would devalue the business and necessitate large marketing costs to promote new brands.
- Despite a recent drop in share price, some stock watchers remain optimistic about the company’s future, anticipating increased profits from their retail arm and potential cost savings and partnerships through the implementation of VCP and synergies.