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Jan 21 2021, 08:00 GMT
Entain
Momentum and new CEO pillars for stand-alone opportunity
DAVY VIEW
While we are surprised by the outcome of the MGM process, we also view Entain’s stand-alone prospects as superior to those of any of the proposed enlarged MGM entity. The key pillars of that stand-alone thesis are continued earnings momentum and a new CEO intent on implementing the group’s recently refreshed global growth strategy. If it can demonstrate meaningful progress in the US and execute on the increasingly worldwide online opportunity, the Board’s recent conviction should prove to be well founded.
