ESG questions loom large for a stand-alone Endeavour Drinks
As Woolworths spins out its gaming and alcohol retailing division this week, investors are split about how much ESG issues will weigh down the business’ strengths.
No one really likes to talk about “sin stocks” anymore. But if they did, there are few better examples than Woolworths’ upcoming 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.
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