Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
This is surely very good news for Coolbet and thus GAN:
"In a highly anticipated move, Canada’s parliament on Wednesday approved wagering on individual sporting events, paving the way for eventual introduction in provinces and territories."
https://www.casino.org/news/canada-is-embracing-single-gaming-sports-betting-coup-for-thescore/
Agree, these are staggering numbers. Potential remains excellent. The move to the NASDAQ has helped transform the company., which for me is a sign of a clear strategy, well executed by the leadership team - a big influencer for my core holdings. Who would have thought not long ago when we were looking at £1.50 a share we would be looking at £23 a share (accepting a 4 for one).
I do wonder whether they will make it as they are until 2023, or whether they start to become a T/O target in such a growth sector. Either way, no plans to sell any more now.....but I will always try and balance tomorrow’s portfolio with enjoying life while I can. All IMO and good luck to all those invested. Continued thanks for keeping us updated Rivaldo.
The Super Bowl figures are eye-catching, and the $3m license monies will just be the first of a number imo:
https://www.businesswire.com/news/home/20210209005439/en/GAN-Announces-Successful-Super-Bowl-and-Patent-License-with-Existing-Customer
And there's the teaser that GAN "continue to be engaged in numerous conversations with both large and small casino-operators to partner with GAN in order to seamlessly connect their loyal reward-card carrying customers to their various online offerings. As a result, we believe we are on track to license our iBridge patent to additional U.S. casino operator groups in 2021 and throughout the patent’s remaining 13-year duration, which should help us drive long-term value for our shareholders.”
The market was down initially on the removal of exclusivity with PARX. But PARX have been a long-term and successful client. It's unlikely that they'll be moving anywhere from GAN since their systems must be pretty intertwined by now - the lifting of exclusivity may bey removing something which was a vestige from when GAN were a small company and relatively new entrant to the USA and needed some certainty of relationship.
The market appears to have reconsidered today's RNS more positively now and the share price is bouncing nicely....
Cheers tricky752, appreciated. I'm keeping all my GAN shares as I believe there's significant upside over the coming years.
This just out this morning on Stockgumshoe.com could help things along nicely today:
Https://www.stockgumshoe.com/reviews/motley-fool-extreme-opportunities-future-of-entertainment/solving-motley-fools-recent-ipo-targets-827x-potential-growth-teaser/
Titan have just initiated coverage of GAN with a $48 target by 2023:
https://www.titanvest.com/research/2021/02/08/weve-invested-in-gan-sold-clct-120-gain-GAN-CLCT
'In summary, we believe GAN is the toll road in online gaming: a mission-critical B2B technology platform poised for explosive growth and share gains as more states approve iGaming and sports betting.'
https://cdn.titanvest.com/library/Titan_Initiation_Report_GAN_Feb2021.pdf
It's good to see Titan's new coverage, but I believe their $48 target for 2023 is pretty conservative considering (1) the likelihood of the state by state gambling roll-out now accelerating and the revenue potential therein, (2) the global potential for the combined GAN/Coolbet operation in Asia, Europe etc and (3) the valuations of companies in the USA.
Amazing that we are approaching $30. Doesn’t seem that long ago that we were struggling between £1.30-£1.50. Even though there has been the four for one, it’s pretty impressive.
Plenty to come over the coming months and years if all goes to plan.
As always, all IMO. GLA.
Love the updates, thanks Rivaldo.
I have actually just sold 10% of my holding here. Really hard decision, but I am pretty careful about the % of my portfolio in a single stock and the rise in this one over the last few weeks has been lovely. Still leaving 90% as I think that long term this will be a fabulous stock.
I also want to enjoy a little bit. Purchased SNG at 6.2p in Jan 2020 - but learnt the hard way many years ago that there is nothing wrong with taking some profit and enjoying it!
GLA, everything I do is of course IMO only! Stay well.
Seneca Gaming have been added as a new client for simulated gaming:
hTTps://www.businesswire.com/news/home/20210201005268/en/GAN-Adds-the-Seneca-Gaming-Corporation-to-its-Growing-List-of-Simulated-Gaming-Clients
A really interesting slide in the latest investor presentation on page 9 from yesterday’s Riley conference - an absolutely blistering start in Michigan!
https://gan-investors.s3.amazonaws.com/1611862503.5cc2c2a1512766be8d7aa3dca0ea5dab.pdf
Great new interview with the CEO. I particularly like this paragraph, together with the analyst's prediction of $100m revenues this year:
Https://www.pressreader.com/ireland/sunday-independent-ireland/20210117/282767769252310
"With GAN's US growth set to shoot sky-high, Smurfit says he believes there is an open goal to move toward revenue of $500m in the next five to seven years. GAN is also well-placed to take advantage of any moves to regulate online gaming in Australia and Asia."
Yup, great news indeed. Feels like we are starting to show just how good this one could be in 2021. More states to follow no doubt......they need the revenue.
" FanDuel Group (a division of Flutter Entertainment plc) launched GAN’s ‘SuperRGS’ aggregating a market-leading portfolio of U.S. relevant online casino gaming content assembled from third party providers IGT, Scientific Games, NET Entertainment, and Everi. The SuperRGS is now available to third party Michigan operators of internet casino gaming, subject to commercial agreements, as a single technical integration representing hundreds of U.S. relevant online casino games.
Dermot Smurfit, President & Chief Executive Officer of GAN commented:
“The long-awaited Michigan market commencement is upon us. Today, ten million residents of Michigan will finally be enabled to bet on sports and play casino games online, ushering into existence the next large intrastate market for internet gambling here in the United States. Following our success in New Jersey and Pennsylvania, GAN is proud to enable these giant national gaming brands to move online on ‘day one’ of Michigan’s market commencement. These launches further validate our industry leading platform for internet gambling and get-to-market capability, which resulted from the hard work our team did to significantly expand our engineering capabilities throughout 2020. Back in 2019, our engineering capability was configured to bring new clients online in a serial manner. Now we are launching multiple clients in parallel in a single state. It’s a huge accomplishment to bring multiple major clients of GAN’s Platform services online simultaneously in a complex regulated market such as Michigan. We look forward to expanding our engineering base further in 2021 in order to deliver on the expansionary objectives for these, and other, clients here in the U.S. as more states continue to rapidly regulate internet gambling.”
https://www.businesswire.com/news/home/20210122005050/en/GAN-Announces-Multiple-Client-Launches-in-Michigan
"GAN Announces Multiple Client Launches in Michigan
Three Internet Sports Betting and/or Casino Gaming Clients Simultaneously Launch Online in Michigan today, Friday,
January 22, 2021
IRVINE, Calif.--(BUSINESS WIRE)--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading full-service internet gaming software-as-a-service provider to the real money internet gaming and online sports betting industries, announced that today is the commencement date for Michigan’s internet gambling market and GAN’s three related client launches: Churchill Downs, Wynn Resorts, and FanDuel Group. Earlier this week, the Michigan Gaming Control Board approved nine Business-to-Consumer (“B2C”) operators to launch today, in time for the Super Bowl. GAN is powering three of those nine, which are all leveraging GAN’s technical platform for internet sports betting and/or internet casino gaming. According to Regulus Partners and Macquarie Research, the state of Michigan is expected to generate $439 million in Gross Operator Revenue during the balance of 2021, increasing to $724 million in 2022 and $969 million in 2023.
Today GAN simultaneously launched three operator clients online in Michigan, including FanDuel Group’s online casino and two new GAN clients, Churchill Downs and Wynn Resorts, secured in June and September 2020, respectively.
Churchill Downs (NASDAQ: CHDN) (“CDI”) launched its online Sportsbook and iGaming via simultaneous launch of desktop web, mobile web, Apple iOS Native App and Android App under the operation of their nationwide racing and wagering brand TwinSpires. Michigan is the first of several states to launch TwinSpires Casino & Sports on GAN’s platform with the states of Colorado and Tennessee to follow upon regulatory approval. CDI’s existing New Jersey, Pennsylvania and Indiana offering will be rebranded from BetAmerica to TwinSpires and will be migrated to GAN’s platform in the first half of 2021. GAN will deploy the ‘single app, multiple states’ capability for CDI, enabling TwinSpires’ online sports and casino consumers to use a single account and single app to place online bets across all supported states. This technical capability was pioneered by GAN in July 2019 and proved highly successful. GAN and CDI will continue to explore adding new capabilities in order to leverage TwinSpires’ existing advance deposit wagering consumer offering to augment and streamline the online TwinSpires Casino & Sports account creation process.
Wynn Resorts (NASDAQ: WYNN) launched their ‘WynnBET’ branded internet sportsbook and internet casino leveraging GAN’s Platform, via desktop web, mobile web and native Apple iOS and Android apps in association with the Sault Ste. Marie Tribe of Chippewa Indians, which operates five casinos under the ‘Kewadin’ brand throughout northern Michigan."
Super news Rivaldo. Thanks.
Great news. An unnamed client - could be Wynn Resorts.....
https://www.businesswire.com/news/home/20210114005377/en/GAN-Announces-First-Sportsbook-Engine-Customer
"GAN Announces First Sportsbook Engine Customer
Existing customer signs first Letter of Intent for full sports betting engine deal subject to regulatory approvals and operator client licensure
January 14, 2021 08:00 AM Eastern Standard Time
IRVINE, Calif.--(BUSINESS WIRE)--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading full-service internet gaming software-as-a-service provider to the real money Internet gaming and online sports betting industries, today announced that it has signed its first Letter of Intent (“LOI”) with an existing client to provide its new ‘Coolbet’ sportsbook engine, which is currently being technically integrated for U.S. deployment by GAN, for operational rollout in the Commonwealth of Virginia as an internet-only mobile-first sports betting experience, subject to regulatory approvals and operator client licensure. The LOI is non-binding and contingent on the client being awarded an Internet sports betting license in the Commonwealth of Virginia, as well as other factors.
Jeff Berman, Chief Commercial Officer of GAN, commented:
“Since we announced our acquisition of Coolbet in November, we have seen significant interest from both current and prospective clients in our newly acquired sportsbook engine and associated managed trading services. Principle integration of this new offering into our industry-leading B2B technology platform is now underway and expected to be operationally deployed here in the U.S. with the expected launch of online sports wagering in the Commonwealth of Virginia. We are excited to further expand our relationship with this current partner, which has applied for an Internet sports betting license in the Commonwealth of Virginia, citing GAN as their nominated platform provider. This agreement further validates our strategic decision to expand our platform capabilities through the acquisition of Coolbet. We look forward to the exciting opportunities we expect to see in 2021 as we bring our augmented platform solution into the U.S. market that now includes one of the best sports betting technologies and end user customer experience operating in the world today.”
Starting the week on a rather positive note $23.50 as I type. GL.
Here's the video of last night's CNBC comment, which partly explains GAN's rise yesterday as well as the excellent news from New York - great to see GAN picked out from all the rest:
Https://www.cnbc.com/video/2021/01/06/gaming-stocks-jump-as-new-yorks-cuomo-proposes-online-betting-legalization.html
It’s been a nice run of news and good to see the sp respond accordingly. Don’t intend to sell and pleased I added a little while back. Nice to see the continued activity on this page and thanks!
More to the point...who has the software and experience to run a setup through the Lottery? Yup....GAN.
https://newsfilter.io/a/ef552ba7154e91339d4e2a126fa84b1d
Https://www.legalsportsreport.com/46989/cuomo-mobile-ny-sports-betting-proposal/
GOVERNOR CUOMO TO PUSH MOBILE NY SPORTS BETTING IN EMPIRE STATE SHOCKER
New York has the potential to be the largest sports wagering market in the United States, and by legalizing online sports betting we aim to keep millions of dollars in tax revenue here at home, which will only strengthen our ability to rebuild from the COVID-19 crisis, Cuomo said in a statement to the Daily News.
Good to see the GAN takeover of Coolbet has been completed overnight - and it's immediately earnings enhancing:
Https://www.businesswire.com/news/home/20210104005830/en/GAN-Limited-Completes-Acquisition-of-Coolbet
Hi tricky752. Yesterday's late surge was caused by a major Buy tip for GAN by Dan Niles, "founder and portfolio manager for the Satori Fund, a tech-focused hedge fund".
He has made GAN one of his top 5 tips for 2021 as follows. Hopefully there'll be lots more buying today.
By his measure below GAN should be trading at around $45 or more compared to the current $19 or so.....
"The stock only trades at 8x CY21 EV/Sales versus some comparable companies that are over 20x."
https://www.danniles.com/articles/12-29-20
"?GAN- a value play as Online Gambling becomes the next big internet market
Online sports betting is the next massive internet market driven by state legalization following the Supreme Court legalizing online sports betting in May of 2018. The total Global Gaming market is roughly $450B and growing ~10% per year w/ only 12% on-line. GAN, with their acquisition of CoolBets, now has an online sports betting offering to complement their iGaming products. We believe the multiple will rerate as more states use GAN partners, such as FanDuel, who will be using their technology. The stock only trades at 8x CY21 EV/Sales versus some comparable companies that are over 20x"
Hi tricky752. The late surge yesterday was caused by a top US hedge fund guy tipping GAN in his top five for 2021 - hopefully a lot more interest today too.
By the measure he quotes GAN should be trading at around $45 or more compared to the current $19 or so.....
"The stock only trades at 8x CY21 EV/Sales versus some comparable companies that are over 20x"
https://www.danniles.com/articles/12-29-20
"Dan Niles is founder and portfolio manager for the Satori Fund, a tech-focused hedge fund. ?"
"?GAN- a value play as Online Gambling becomes the next big internet market
Online sports betting is the next massive internet market driven by state legalization following the Supreme Court legalizing online sports betting in May of 2018. The total Global Gaming market is roughly $450B and growing ~10% per year w/ only 12% on-line. GAN, with their acquisition of CoolBets, now has an online sports betting offering to complement their iGaming products. We believe the multiple will rerate as more states use GAN partners, such as FanDuel, who will be using their technology. The stock only trades at 8x CY21 EV/Sales versus some comparable companies that are over 20x."
Any idea what caused the sudden spike this afternoon Rivaldo?
New interview with the CEO - great to see his ambition in looking towards being a multi-billion dollar company:
Https://sbcamericas.com/2020/12/21/dermot-smurfit-law-family-gans-plans-1bn-valuation/
"We think we need to be a multi billion dollar organisation over the course of the next few years as a result of capturing as much market share in the US as possible."
"Looking forward to the next few weeks, we expect to launch in Michigan, which is the next large market because they regulated both internet casino as well as online sports betting. So for us, Michigan is incredibly exciting. We’re bringing three clients live in Michigan at the start of the market commencement, which should be sometime over the course of the next few weeks.
But looking beyond New Jersey, Pennsylvania and Michigan, we’re looking at client launches in Indiana, Colorado, Tennessee, Iowa, Ohio, subject to regulation, and a number of other states. I have to say, we’re looking forward to this time next year, where we hope to be up and running in nine or 10, regulated real money gambling states.
Beyond that, we expect – as do all the industry analysts – that there will be 25 to 30 online gambling-enabled states over the course of the next five to seven years. The total addressable market will be valued at more than $30 billion, which will be split more or less evenly between sports betting and casino.
With the recently announced Coolbet acquisition, we have the sports capability required to address that opportunity for our clients and of course, for ourselves. We couldn’t be more excited! Over the next five years, we have a rapid ramp up and the next equity valuation target for me is a billion dollars. Beyond that, we’ve got a pretty clear shot on goal for a multi billion dollar enterprise all centred around the activity of regulated online gambling."
Great new Seeking Alpha article. Hopefully it will attract some interest today:
Https://seekingalpha.com/article/4395730-gan-limited-powering-future-of-online-gambling