On 2024-03-12, Entain, the FTSE-100 gambling group that owns Ladbrokes, announced the appointment of a former Wynn Resorts president to its board of directors and is reportedly preparing to sell PartyPoker as part of its strategy to fend off activist investors and focus on its core operations. This decision to consider PartyPoker as non-core to its business aligns with Entain's broader strategy, announced on 2024-03-14, to review the sale of several of its overseas gambling brands, as reported by the Financial Times. Meanwhile, Entain's market performance has been trailing behind its UK betting rival, Flutter Entertainment, the owner of Paddy Power, with analysts from JPMorgan, as of 2024-03-13, not foreseeing a change in this trend.
Entain examines possible sale of overseas gambling brands, FT reports https://t.co/yuGOKNBTYU https://t.co/NHTlYGQ90x
Entain examines possible sale of overseas gambling brands https://t.co/FfuMJxLtIc
⚠️ ENTAIN EXAMINES POSSIBLE SALE OF OVERSEAS GAMBLING BRANDS, FT REPORTS Full Story → https://t.co/R5Tf8LrQh1 British gambling firm Entain has hired advisers to oversee the possible sale of several of its overseas brands, the Financial Times reported on Thursday. https://t.co/J0dfD6nka5
Paddy Power owner Flutter Entertainment has left UK betting rival Entain trailing on the stock market over the past year, and JPMorgan analysts don’t see that changing any time soon https://t.co/CZL9y1bwte
Remember the heyday of partypoker? Well Entain has decided the brand is no longer a "core asset" https://t.co/XBf3yrek2f
Exclusive | The FTSE-100 gambling group which owns Ladbrokes has hired bankers to prepare a sale of PartyPoker as it seeks to fend off activist investors by reinvigorating its core operations. 🔗 Read more https://t.co/hPpBAdJJNg
Entain appoints former Wynn Resorts president to board of directors https://t.co/cPQZkCyfZo https://t.co/bzMoWs1LnH