Entain lowers its forecast for online revenue as living expenses affect online gambling

After earlier predicting a mid-to-high single-digit increase in net revenue growth for the year from its online operations, the firm announced that it no longer expects that to happen. Its shares dropped 9.5% to 1031p in morning trading, making it the FTSE 100 stock index's biggest single loser.

 

[GamblingBoy]

Despite the above mentioned reason for the drop in value of Entain, the state government crackdown on betting casinos in order to prevent gambling addictions among its youths also led to the dropping of Entain value.