ALL, CWN, PBH, BET: Why are these gaming stocks trading higher today?

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ALL, CWN, PBH, BET: Why are these gaming stocks trading higher today?

PointsBet Holdings Limited, Aristocrat Leisure Limited, BetMakers Technology Group Limited, Crown Resorts Limited
Image source: © Estradabetancourtanton | Megapixl.com

Highlights

  • ASX 200 was 1.064% trading higher at 7139.700 points at 11:19 AM AEST today.
  • At one point, the consumer Discretionary sector was also one of the top performers today.
  • The S&P/ASX 200 Consumer Discretionary Index (ASX:XDJ) was up 2.039% at 2891.300 points.

The Australian share market traded in the green today as the benchmark index was up 1.064% at 7139.700 points at 11:19 AM AEST, reflecting positive investors' sentiments. 

A total of 10 out of 11 sectors were trading in the green during intra-day trading session today. Information Technology was the top-performing sector and the S&P/ASX 200 Information Technology Index (ASX:XIJ) was up 3.870% at 1508.100 points at 11:25 AM AEST. 

Meanwhile, the consumer Discretionary sector was also one of the top performers today as the S&P/ASX 200 Consumer Discretionary Index (ASX:XDJ) was up 2.039% at 2891.300 points.

In this article, we will talk about four ASX-listed gaming stocks which have been in the spotlight recently. The four stocks include PointsBet Holdings Limited (ASX:PBH), Aristocrat Leisure Limited (ASX:ALL), BetMakers Technology Group Limited (ASX:BET), and Crown Resorts Limited (ASX:CWN). 

Aristocrat Leisure Limited (ASX:ALL)

The shares of ASX-listed gaming technology company Aristocrat Leisure Limited jumped 4.506% to trade at AU$35.250 per share on ASX at 12:19 PM AEST. Aristocrat is an ASX-listed Australia-based gambling machine manufacturer with a market capitalisation of AU$22.58 billion. On Thursday (19 May 2022), as part of its proactive capital management strategy, the company announced its decision to implement an on-market share buy-back program of nearly AU$500 million. The share buy-backs are expected to commence on or after 2 June 2022 and will be funded from existing cash reserves.

In the last one year, Aristocrat Leisure's share price has fallen 12.66%, while the stock is down 22.34% year-to-date (YTD). 

Crown Resorts Limited (ASX:CWN)

Crown Resorts' shares traded 0.312% higher at AU$12.860 per share on ASX at 12:27 PM AEST. Crown Resorts Limited is touted as Australia's leading gaming and entertainment group. 

On 19 May 2022, S&P Dow Jones Indices announced Crown Resorts' removal from the S&P/ASX 200, subject to shareholder and final court approval of the scheme of arrangement whereby Blackstone Inc will acquire the company.

It is to be noted that Blackstone Inc. (together with its affiliates) is one of the leading investment firms in the world, investing capital on behalf of pension funds, large institutions and individuals.

In the last one year, Crown Resorts' share price has fallen 0.43%, while the stock is up 6.67% YTD. 

Image Source: © Panama00 | Megapixl.com

PointsBet Holdings Limited (ASX:PBH)

PointsBet Holdings Limited's share price was seen trading 4.065% higher at AU$2.560 per share on ASX at 12:37 PM AEST today. PointsBet Holdings Limited is an Australian corporate bookmaker and commands a market capitalisation of AU$651.57M. The company's cloud-based wagering platform offers sports and racing wagering products.

In the last one year, PointsBet Holdings' shares have fallen 78.14%, while the stock is down 64.30% YTD.

Read More: Why shares of Alchemy Resources (ASX:ALY) have more than doubled so far in 2022?

BetMakers Technology Group Limited (ASX:BET)

Shares of BetMakers Technology Group traded at AU$0.510 per share on ASX, up 3.030% at 12:49 PM AEST. BetMakers Technology Group Limited is an ASX-listed software development company which is engaged in online gaming & wagering services. In today's latest development, the company announced that its fully-owned subsidiary, OM Apps Pty Ltd has signed a new updated agreement with two divisions of The Waterhouse Group, Tarpin Finance Pty Ltd and Rob Waterhouse. 

In the last one year, shares of BetMakers Technology Group have fallen 65.07%, while the stock is down 38.55% YTD.

Read More: Develop Global (ASX:DVP) completes Woodlawn project acquisition

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