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Gaming shares rebound in second quarter of 2020

After seeing their shares decimated by the havoc wreaked by the Covid-19 pandemic in March, the majority of the 50 publicly-listed operator and suppliers that make up the GI Stock Index saw their shares rally between 1 April and 30 June, making up some of the losses in Q1 2020.

After [...]

1 min read
DoubleDown Interactive

DoubleDown Interactive aims to raise $209m from New York IPO

South Korean social casino operator DoubleDown Interactive confirmed Thursday that it aims to raise up to $209m from its planned New York listing.

DoubleDown has commenced the initial public offering (IPO) of its American Depositary Shares (ADSs), representing shares of DoubleDown’s common stock.

DoubleDown, together with a selling stockholder, are offering an [...]

1 min read
William Hill

William Hill improves liquidity with new shares placement

London-listed gaming operator William Hill has placed new shares with institutional and retail investors to raise more than £200m.

William Hill is issuing a total of 174,872,457 new ordinary shares at a price of 128 pence per share for gross proceeds of £224m, which will be used to deliver on the [...]

1 min read
Eldorado Resorts

Eldorado Resorts set to strengthen liquidity by over $1bn

New York-listed gaming operator Eldorado Resorts has agreed a number of transactions that are expected to deliver over $1.2bn in the near term.

The first is for an underwritten public offering of 18m shares in the company with a 30-day option for an additional 2.7m shares, which at Monday’s closing of [...]

1 min read
Betsson

Betsson to distribute €37m to shareholders through share redemption

Stockholm-listed gaming operator Betsson secured shareholder approval Thursday to commence a one-for-two share split with automatic redemption of new shares.

The resolution was approved by shareholders at the company’s annual general meeting (AGM) earlier today and will see each Betsson share, irrespective of class, split into two shares, with one share [...]

1 min read
DoubleDown Interactive

DoubleDown Interactive applies for US listing

South Korea’s DoubleU Games, operator of the DoubleDown social casino app, is looking to raise $100m through a US-listing of American Depositary Shares (ADSs).

The company has appointed J.P. Morgan, BofA Securities and Macquarie Capital as underwriters for the ADS offering, and has applied to list the shares on the Nasdaq [...]

1 min read
Gaming Realms

Gaming Realms shares climb over 16% on positive trading update

Shares in London-listed gaming supplier Gaming Realms were trading more than 16 per cent higher Tuesday morning after the company said that it expects to exceed its EBITDA target for the year.

In a trading update released early Tuesday, Gaming Realms said that its strong performance in the first quarter of [...]

2 mins read
Penn National Gaming

Penn National Gaming ready for reopening with strengthened balance sheet

New York-listed casino operator Penn National Gaming has strengthened its balance sheet by $600m with the closing of its common stock and convertible notes offering.

Strong investor demand saw the company increase the size of the offering to $300m common shares and $300m of 2.75% Convertible Senior Notes due 2026, with [...]

1 min read

Gaming stocks return to growth in April

After the havoc wreaked on share prices across the world during the first quarter of 2020, there was some welcome respite for the gaming industry as the gloom began to lift in April.

Having recorded a 24 per cent drop in their combined share prices during Q1 as the coronavirus pandemic [...]

1 min read
DraftKings

DraftKings begins trading on Nasdaq following SBTech combination

America’s first pure-play sports betting and online gaming business will begin trading on the Nasdaq Global Select Market today following completion of the business combination between DraftKings, SBTech and Diamond Eagle Acquisition Corp.

The business combination was first announced in December 2019 and brings together leading US sports betting operator DraftKings [...]

2 mins read

Nektan future in doubt as shares suspended

Trading in shares of London-listed gaming technology supplier Nektan has been suspended as the company prepares to enter administration.

The company announced two weeks ago that it would hold discussions with advisors and stakeholders regarding the future of the group after its Rapid Games US joint venture ceased trading and its [...]

1 min read

COVID-19 crisis hits gaming investors hard

The first quarter of 2020 has not gone according to anyone's plan, to state the obvious. Markets and businesses across the globe have experienced unprecedented disruption and the chaos was hard felt by gaming operators and suppliers alike.

After seeing their combined share prices increase by 45 per cent in 2019, [...]

1 min read
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