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One answer is that the industry is no longer being valued primarily on the promise of endless growth. The market instead wants to see profit, cash generation and manageable regulation maintained across all facets of a listed business. Ed Birkin, managing director of H2 Gambling Capital, says the longer-term decline in gambling stocks runs much deeper than just changes to earnings forecasts.
“The industry share price declines have been much more severe than the cut to earnings projections which means that, while there may be some weakening in some companies’ fundamental growth drivers, the valuations that investors are putting on them have been the main driver of share price declines – although weaker fundamentals lead to lower valuations, so the reality is that they’re completely intertwined.”
Entain’s demotion comes after another – and arguably more significant – symbolic move by Flutter Entertainment. Flutter began trading on the New York Stock Exchange in January 2024 and later moved its primary listing from London to New York.
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She mentions an ongoing lawsuit against Meta, which will be expected to be very challenging. The VNLOK-filed litigation is seeking to take action against the illegal gambling ads allowed to filter through to consumers across Meta’s various platforms.
“There are about 70,000 ads every single month for illegal operators or offerings – and there’s only two or three thousand from the legal market. It’s really unbalanced and they should regulate more.
“As a trade organisation we are trying to work together with our regulator because we feel that we have a shared interest of getting a good legal market. And of course we’re talking to politicians to do something about putting illegal operators on notice. I think it is really positive at the moment in the Netherlands that the operators have really teamed up,” Petra continues.
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Some respondents, however, shared severe personal consequences.
I have lost money that was going to be used for my kids’ Christmas presents,” said one respondent. “It led to stress with my wife after having to borrow from her parents to make up that money.”
“I have lost money that was going to be used for my kids’ Christmas presents,” one respondent disclosed. “It led to stress with my wife after having to borrow from her parents to make up that money.”
