By Tim Boreham, Editor, The New Criterion
The saintly stocks versus the sinners: which ones perform the best?
In a new era in which environmental, social and governance (ESG) considerations have been enshrined in the way fundies pick their shares, the so-called ‘sin’ stocks had been largely discounted as relics of the past.
Until Woolworths’ spin-off of
Endeavour Group (EDV) came along, that is.
By virtue of Endeavour’s sheer size and pure-play focus on booze and pokies, the bifurcation creates an awkward dilemma for ‘saintly’ Woolworths holders who tolerated the sinful stuff as a minority contributor to the grocer’s earnings (about 27% of total underlying profits).
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Flutter Entertainment detailed that it had brought in some
£288 million ($401 million) in first-quarter revenues from its operations in the United States, which represented a comparable swell of 135%, while seeing its business in Australia post a 59% increase to
£279 million ($389 million).
Domestic dominance:
SkyBet.com,
FoxBet.com and
PokerStars.com and explained that its British and Irish business had chalked up a surge of 16% year-on-year in first-quarter revenues to
£568 million ($792 million) as its ‘international’ division saw a 7% uptick to
£351 million ($489 million).
Pool proliferation:
Peter Jackson serves as the Chief Executive Officer for London-listed Flutter Entertainment and he disclosed that his company had recorded a surge of 42% year-on-year in aggregated first-quarter online gaming and sportsbetting revenues to
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