No one really likes to talk about “sin stocks” anymore. But if they did, there are few better examples than pokies and alcohol spin-off Endeavour Drinks, set to be one of the ASX’s largest listings this year.
As the country’s largest hotel group owner, with 9 per cent of a fragmented market and about 48 per cent of the retail liquor market before the pandemic began, Endeavour is charging into life as a stand-alone ASX-listed entity with some big unanswered questions about social licence looming large….
ESG considerations are increasingly important, not least because they are top of mind for the large local super funds and many offshore investors.
But for many investors, these challenges are still outweighed by the fact that Endeavour Drinks – which owns 1630 Dan Murphy’s and BWS stores across the country – is one of the rare “category killers” in the market.
