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PinnacleYesterday Bwin.Party Digital Entertainment Plc’s share price fell to a low of £1.51, having traded at a high of £1.65 the day before. The fall was on the back of Macquarie down grading the shares target price from 180p to 145p.
Macquarie downgraded the stock to “underperform”, the rationale behind the advice was that the gambling giant will be affected by financial downturns in Greece and Spain, markets in which currently contribute a large portion of BPTY’s revenue. Further negativity surrounding the stock concerned the fact that the regulatory environment for some of it’s key markets looks set to become more stringent.
In today’s trading the stock has rallied somewhat and currently is trading at £1.54, having touched £1.57 earlier in the day.
I have been involved in the betting industry since the late 90’s and have in that time worked for a on course bookmaker (at now much missed Catford Dogs), spent time at a leading spread betting company, and worked for Betfair in their two year start-up phase.
In 2007 I co-founded iGaming supplier Hyperion Gaming with long suffering business partner Alex Lafferty.
Being involved in the industry for so long has given me a good understanding of the wonderful world of online gambling, and I put effort into giving honest opinions, that remain my own!
