Kindred Group Plc has detailed improved financial results and corporate KPIs, closing full-year 2023 trading. The board of the Stockholm-listed online gambling group published a preliminary trading update due to the €2.6bn takeover offer tabled this morning by Groupe Française des Jeux (Groupe FDJ). Q4 results saw Kindred achieve period revenues of £313m, reflecting a 2% increase on 2022 comparatives …
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Ricky Sandler to create ‘lasting value’ in joining Entain board
Entain has appointed Ricky Sandler to its board of directors in a bid to improve investor relations and maximise shareholder value. Sandler – founder of a global investment management organisation Eminence Capital – has been vocally critical of the FTSE 100 gambling group’s strategy in 2023. He will also join Entain’s People & Governance and Capital Allocation committee, both with …
Read More »Entain investors told that MGM has eyes only on BetMGM
US casino giant MGM Resorts will not be making a bid for the whole of Entain as the pressure from activist investors on the UK group’s CEO Jette Nygaard-Andersen shows few signs of easing following last week’s Financial Times reports of shareholders moving against her. According to sources close to the group, the US casino giant is “not interested” in bidding …
Read More »Entain STS deal scolded by Eminence Capital
Entain Plc investor Eminence Capital has questioned the M&A strategy of the FTSE100 gambling group, citing that it has impacted the firm’s value and future prospects. An open letter published by Eminence CEO Ricky Sandler criticised the board of Entain for allowing a £600m bookbuild to fund the acquisition of STS Group, through the issuance of new shares, which represents …
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