Bad news for 888 Holdings, BP, Flutter Entertainment and Retork today

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888 Holdings plc (LON:888) ; £9.4M fine from the UKGC, relating to the group’s former safer gambling and anti-money laundering policies and procedures. No impact on 2022 forecasts.

888 Holdings, known commonly as 888.com, is a public company which owns several popular gambling brands and websites, including 888sport, 888casino and 888poker. 888 is based in Gibraltar. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

BP Plc said to weigh selling ROSNEFT stake back to Russian explorer at a huge discount.

BP plc is engaged in the global energy business with operations in Europe, North and South America, Australasia, Asia and Africa. The Company through its range of activities delivers heat, light and mobility products and services to customers around the world. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is responsible for its activities in oil and natural gas exploration, field development and production. The Downstream segment has global marketing and manufacturing operations, and include the fuels, lubricants and petrochemicals business of the Company. Rosneft is the Company’s Russian refining business that owns and operates approximately 13 refineries in Russia, and holds stakes in three refineries in Germany, one in India and one in Belarus.

FLUTTER ENTERTAINMENT (LON:FLTR) ; Revs +37% £6.04bn vs £6bn mkt est. Group EBITDA ex-US £1.24bn vs £1.27bn mkt est. US loss bigger than guidance range of c£250m-£275m, although FanDuel remains on track for 2023 profitability. Recreational customer growth of +23% across the Group. UK solid & good performance in Australia. Russia/ Ukraine exposure minimal. Early 2022 trading in line. A little light on the numbers.

Flutter Entertainment is an Ireland-based global sports-betting and gaming company. The Company operates through four divisions: United Kingdom (UK) & Ireland, Australia, International and the United States (US). Its UK & Ireland division includes Sky Betting and Gaming, Paddy Power and Betfair brands offering a range of sportsbook, exchange, and gaming services, along with over 600 Paddy Power betting shops in the UK and Ireland. The Australia division consists of the Sportsbet online sports betting brand. The Company’s International division includes PokerStars, Adjarabet, Betfair and Junglee operating in multiple jurisdictions around the globe offering a range of sportsbook, exchange, and gaming services. Its US division includes FanDuel, Stardust, FOX Bet and PokerStars brands, offering regulated real money and free-to-play sports betting, online gaming, daily fantasy sports and online racing wagering products to customers across various states in the US.

ROTORK Plc (LON:ROR) – Revs miss at £569m (£584m mkt est) as supply chain constraints intensified, particularly in chipsets and electronics. Entered ’22 with a record order book though co does not anticipate issues to improve in H1.

Rotork plc is a United Kingdom-based provider of flow control and instrumentation solutions for oil & gas, water and wastewater, power, chemical process and industrial applications. The Company operates through three divisions: Oil & Gas, Water & Power, and Chemical, Process & Industrial (CPI). The Company is engaged in the production of actuators and related flow control equipment for every part of the oil and gas industry, including production, processing, distribution and storage. Its products control valves in the water and wastewater industry. Its flow control products are used in potable water treatment including filtration, desalination and distribution. The Company has manufacturing facilities in more than 20 locations and serves approximately 173 countries through a global services network.

Commentary has been provided by Guardian Stockbrokers.

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