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Entain said at the time: “As part of our ongoing focus on enhancing Entain’s operational efficiency and agility, we have begun implementing organisational changes which will regrettably impact a number of roles across the group over the months ahead.”
Entain cut down its Ladbrokes retail estate in Ireland by over a third in April, amid reports it had withdrawn from discussions to sell its entire Ladbrokes retail estate in the market.
Last week, Bet365 also cut more than 300 jobs in response to the UK’s tax increase.
What is Shamrock Quest?
In other words, there is no magic “engagement” button. There are tools, expertise and an operator willing to put both to work.
For existing Splash Tech partners, “different” is not supposed to mean disruption. Maintaining the company’s products, expertise and relationships was a central consideration during the transaction.
“For all of our customers, it’s been and will continue to be business as usual,” Wilson says.
How to play Shamrock Quest
“The industry share price declines have been much more severe than the cut to earnings projections which means that, while there may be some weakening in some companies’ fundamental growth drivers, the valuations that investors are putting on them have been the main driver of share price declines – although weaker fundamentals lead to lower valuations, so the reality is that they’re completely intertwined.”
Entain’s demotion comes after another – and arguably more significant – symbolic move by Flutter Entertainment. Flutter began trading on the New York Stock Exchange in January 2024 and later moved its primary listing from London to New York.
The move initially appeared to work. Flutter had a market capitalisation of about $36 billion when it began trading in New York in January 2024, rising to roughly $50 billion by June the following year. Flutter’s value later fell sharply as investors lowered their earnings expectations.
