Dodge & Cox doubles stake in Entain

Investment management firm Dodge & Cox has increased its stake in Entain, the owner of Ladbrokes and Coral, from 5.01 per cent to 10.33 per cent, becoming the second-largest shareholder behind The Capital Group Companies.

This move comes despite a reported six per cent drop in Entain’s Q3 online gaming revenues and a £45m hit from favourable football results.