The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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GAN gets mentioned here in this article confirming that Michigan's online gambling launch is imminent ......all the GAN customers for Michigan (Churchill Downs, FanDuel, Parx and Wynn) are in place, so the New Year should be big for GAN in Michigan along with Colorado and Tennessee sports launches for CD and WV for FanDuel:
Https://www.playmichigan.com/whats-next-mi-online-gambling/
More news Rivaldo........unfortunately after hours indicates the market isn’t 100% happy with the Q3 update/investment.
Thanks Rivaldo. Nice to see some green today.....about time. It’s been struggling to hang onto any gain recently.
Https://www.stocktitan.net/news/GAN/gan-expands-content-library-through-new-partnership-with-high-5-r1l6e8969zb7.html#
"GAN Expands Content Library Through New Partnership with High 5 Games
November 4, 2020 - 7:00 am
IRVINE, Calif.--(BUSINESS WIRE)--GAN Limited (the "Company" or "GAN") (NASDAQ: GAN), a leading business-to-business supplier of internet gaming software-as-a-service primarily to the U.S. land-based casino industry, today announced a new content licensing agreement and partnership with High 5 Games ("High 5" ). The Agreement will bring High 5's award winning content onto GAN's U.S. Real Money Gaming ("RMG") platform, and brings the total content library GAN offers to over 800 games.
High 5 Games is a leading online casino content provider in New Jersey and other regulated markets, with a reputation for bringing casino players the games they demand. By seamlessly integrating High 5's content into GAN's GameSTACK platform, players at regulated online casinos in New Jersey, Pennsylvania, and Michigan will gain access to more than 150 in-demand High 5 titles, including Double Da Vinci Diamonds, Triple Double Da Vinci Diamonds, and Secrets of the Forest. As more states green-light regulated casino gaming, High 5 will be there via the GameSTACK platform.
Jeff Berman, Chief Commercial Officer of GAN, commented:
"As we look to strategically grow our RMG content offerings and complement GAN's industry-leading technology platform, we believe partnerships with well-respected content providers like High 5 Games will help us expand our market share and build sustainable momentum. Launching and integrating new content on the GAN platform further differentiates our platform and brings a full-service internet gaming experience to our virtual casino operating partners and consequently to their customers. We are excited about this new partnership with High 5 Games, and look forward to expanding our collaboration and to winning greater collective market share for both companies in the future."
Anthony Singer, CEO of High 5 Games, commented:
"As we look to make an impact in more markets across the United States, we're thrilled to add GAN to our arsenal of distribution channels. Players in New Jersey have experienced the joy of our real-money casino games for years -- since 2008 on the casino floor and since 2013 online. The GameSTACK platform immediately puts our content on more devices, and as additional states bring regulated casino gaming online, we now have an incredible opportunity to entertain even more players all over the map."
Origin789, you will need to complete a W8-BEN form to buy GAN shares in the UK, but you only have to do this once every few years - so after that you can simply buy and sell whenever you like.
I would say yes. Actually, I am surprised they have not asked you to compete it already as it’s all held under Nasdaq now I think. If you call or live chat with them I think they can do it over the phone, or it can be done via an on-line form that they can mail you. I am buying more too, although a little surprised to see it so low, even with everything considered. I would expect there to be a lot of States that will look for ways to drive tax revenue.
Thanks Tricky, that's excellent information, I wasnt aware of what is needed to buy now they are taking under NASDAQ, presumably I would need to complete the documentation if I needed to sell the existing shares too.
Many Thanks for the advice!
Yes, you can use HX. However, you will need to complete some documentation first that confirms you can trade in overseas US stocks. This can be done electronically if you get in touch. The only other thing to remember is that exchange rates come into play, but I think the transaction itself is quite simple.
Thanks for continuing the posts on this board, I'm now tempted to sell off William Hill shares and add to the GAN I hold. I haven't bought shares from the NASDAQ before. I use Halifax to buy shares into my share ISA, is this as straight forward as buying uk listed shares and are the buying fees the same too? Thanks in advance.
Rivaldo, thanks for keeping us updated. I have added some more over the last few weeks. Not expecting fireworks, but do intend to leave them for the future.
Great news - and a foothold in the potentially giant Californian gambling sector (or El Dorado as it's otherwise known!):
Https://www.nasdaq.com/press-release/gan-launches-simulated-gaming-for-agua-caliente-casinos-in-california-2020-10-22
"GAN Launches Simulated Gaming for Agua Caliente Casinos in California
22/10/2020 12:00pm
Business Wire
Unique integrated product development creates seamless experience for top gaming operators across platforms
GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gaming software-as-a-service solutions primarily to the U.S. land-based casino industry, today announces the launch of the Play Agua® social casino site and app for the Agua Caliente Casinos. The solution is powered by GAN’s core Simulated Gaming software, enabling casino operators to engage with their patrons through an authentic internet and mobile social gaming experience, even in states where legislation allowing licensed real money iGaming is yet to arrive. The unique software provides meaningful marketing, brand building, and revenue opportunities for both operators and GAN.
The Agua Caliente Band of Cahuilla Indians owns and operates three California-based locations: Agua Caliente Casino Palm Springs, Agua Caliente Resort Casino Spa Rancho Mirage, and coming later this fall, Agua Caliente Casino Cathedral City. As part of Agua Caliente’s efforts to bring a more robust experience to California players, GAN was selected to develop a custom solution bringing social casino gaming live on iOS, Android, and desktop while also integrating with Agua Caliente’s loyalty membership rewards program, the ACE Club. GAN will be also providing Marketing Services – acquisition and retention marketing as part of the service.
Jeff Berman, Chief Commercial Officer of GAN, commented:
“We are excited that our unique Simulated Gaming software has been proven to seamlessly integrate with our customer’s exciting loyalty programs, while also expanding their access point to consumers. Our new partnership with Agua Caliente Casinos will help them provide an enhanced social casino gaming experience and gain awareness and exposure to new states. We look forward to expanding our partnership and growing with Agua Caliente over the next several years.”
Bill Oliver, CIO of Agua Caliente Casinos, commented:
“GAN’s custom front end development and speed of delivery made them the right partner to introduce Play Agua®. We look forward to delivering existing and new customers with a seamless experience across all platforms, and are proud to have partnered with the industry’s leading provider.”
(1) September's New Jersey figures........
"Internet Gaming Win was $87.6 million in September compared to $41.1 million in the prior period, reflecting an increase of 113.0%.
https://www.nj.gov/oag/ge/docs/Financials/PressRel2020/September2020.pdf
(2) And September's figures from Italy:
"ITALY iGaming revenue rose 25.4 percent to €260.72 million in September.
Online casino increased 29.2 percent to €92.7 million, as sports betting was up 18.6 percent to €152.5 million.
Flutter’s PokerStars led online casino market share with 12.2 percent. Playtech’s Snaitech led sports betting market share at 16 percent."
Good coverage of GAN's move into simulated sports betting:
Https://www.realmoneygambling.com/news/gan-launches-simulated-sports-betting/
"GAN Launches Simulated Sports Betting
October 14, 2020
Leading B2B supplier of casino software solutions GAN Limited on October 12 announced the launch of its new simulated internet sports betting experience. According to the company’s announcement, the new simulated sports betting offering will be available to an existing major retail casino operator client in the midwestern region. Thanks to the partnership between the two companies, the new product will be available at www.PlayJACK.com, which is a joint venture between the two.
GAN Limited already has a pretty impressive Simulated Gaming product and the new simulated sports betting service will serve as a significant extension of that. It is a major improvement that takes full advantage of the existing technical integration that exists between the service provider’s GameSTACK enterprise software platform and Kambi which has been serving as GAN’s sports betting technology partner.
Tons of Great Perks
According to Tom Ustunel, the Vice President of Gaming Operations at GAN, the addition of the simulated sports betting is a “natural extension” of the company’s extensive portfolio of casino solutions. In addition to giving the customers the ability to participate in active sporting events, the new product is further fully integrated with the reward program, something that will certainly immensely appeal to loyal customers, avid gamblers, and even high rollers.
“We will continue to work closely with relevant partners on all aspects of our current and subsequent rollouts, including plans for the launch of real money internet sports betting and casino gaming, pending regulation,” Top Ustunel added.
These are some pretty ambitious plans but given the company’s reputation, they are more than capable of achieving these goals.
High Hopes for the New Product
To begin with, the Simulate Gaming offering will give GAN’s casino operator clients a unique opportunity to compete against Daily Fantasy Sports operators. These clients can now easily appeal to and engage with the young-to-middle-aged sports bettors who make up a huge chunk of the sports betting demographic.
Also worth noting is the fact that the addition of the simulated sports betting product is expected to accelerate sales of Simulated Gaming to even more operators across the United States. Sports betting is already a pretty lucrative space in the region, something that can easily be seen from its rapid growth as well as the massive interest it is receiving from sports media companies, casino operators, and even leagues among others."
More positive analyst vibes today
"B. Riley Securities analyst Josh Nichols sees additional upside in shares of Gan Limited after the company yesterday morning announced it signed a 10-year agreement with Wynn Resorts to provide internet gaming and online sports betting enterprise software in Michigan. Gan has three major partners in Michigan, and Regulus Partners believes Michigan could represent $439M of gross operator revenue in 2021, Nichols tells investors in a research note. While the Wynn agreement in Michigan is an incremental positive, the big opportunity would be to expand the partnership across multiple additional states, adds the analyst. He reiterated a Buy rating on the shares with a $28.50 price target"
Northland Securities re-iterate BUY rec. and have a $30 target:
https://zolmax.com/investing/gan-nasdaqgan-stock-rating-reaffirmed-by-northland-securities/4894298.html
And Macquarie have a $28 target:
" Chad Beynon of Macquarie is reviewing estimates for GAN after it announced its online platform contract with Wynn Resorts in Michigan.
The contract can be an important catalyst for GAN and potentially a major success for GAN and the industry given Michigan’s 10 million population, Beynon said.
He expects that contract to be worth $1.2 million in annual EBITDA by 2025 and add $3 million in revenue assuming 5 percent market share. That is a conservative estimate noting that fair share is 7 percent, Beynon said.
GAN has guidance of $37 million to $39 million in revenue for this year.
Beynon has a $28 target on GAN and prior to the announcement forecast EBITDA of $12.1 million this year, $14.7 million next year and $23 million in 2022 with a loss per share of 12 cents followed by earnings of 28 and 53 cents a share."
Indeed tricky752 - I wonder if Draftkings' $1 billion is earmarked for acquisitions.......
I s Draftkings has announced a $1bn offering for general corporate purposes. Maybe about to buy some competition.....That is a lot of dosh!
Thanks to posting. Was trying to work out what caused the sp spike.
Great news. Internet casino gaming PLUS Internet sports betting in Michigan.
And for a juicy 10 years too.....with "potential roll-outs in multiple additional states in the future":
https://newsfilter.io/a/837e73a7978975089f10e5309e03373d
"GAN Signs 10-Year Agreement with Wynn Resorts to Provide iGaming and Internet Sports Betting in Michigan
Stocks mentioned: GAN, WYNN
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IRVINE, Calif.--(BUSINESS WIRE)--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading business-to-business supplier of internet gambling software-as-a-service solutions to the U.S. land-based casino industry, today announced that Wynn Resorts, Limited (“Wynn”) (NASDAQ: WYNN) has engaged GAN in a 10-year agreement to be the enterprise software platform for its Internet sports betting and Internet casino gaming business in the State of Michigan. The Company expects to launch Wynn online in Michigan alongside the first regulated online gambling operators in November 2020, subject to all regulatory approvals. The Michigan launch between GAN and Wynn will be a part of the market access agreement between GAN and the Sault Ste. Marie Tribe of Chippewa Indians, who operate five casinos under the Kewadin Casinos brand in Michigan, announced on March 27, 2020.
By leveraging GAN’s U.S.-optimized enterprise software, proven get-to-market capability and on-property reward program integration capability, Wynn will be well-positioned as an early mover in the state of Michigan following its commencement of online gaming activities. Furthermore, as a major national casino brand operating casinos in both Las Vegas and Boston Massachusetts, Wynn has a substantial database of patrons’ resident within the Michigan region to cross-market to Internet gambling.
Together with a market-leading range of Internet casino games developed by GAN and/or aggregated from third parties, GAN will publish third-party sports betting content procured from a third-party sports betting content provider augmented by Wynn’s strategic partner Betbull Limited.
Jeffrey B. Berman, Chief Commercial Officer of GAN, commented:
“We look forward to powering the Wynn brand in Michigan with our highly optimized technology platform and enabling Wynn to efficiently invest their marketing capital to attract loyal sports betting and iGaming players. We are pleased to onboard Wynn, with its national casino brand and substantial Michigan-region patron base, as a major operator client and are excited at the opportunity presented by potential roll-outs in multiple additional states in the future.”
https://www.casino.org/news/gan-poised-to-benefit-from-gaming-technology-demand
""Beynon, the Macquarie analyst, says earnings before interest, taxes, depreciation and amortization (EBITDA) margins for US sportsbook operators can eventually get to 20 percent to 30 percent. But those figures will be higher for technology providers, such as GAN.
He has an “outperform” rating on GAN with a $28 price target, implying upside of 75 percent from current levels."
Good summary - has a $21 target price:
Https://seekingalpha.com/article/4376039-gan-limited-favorite-internet-gambling-and-sports-betting-stock
Some more info here on the recent fall in price.
https://www.benzinga.com/news/20/09/17535420/gans-stock-continues-fall-after-being-left-out-of-barstool-app
Posted by a reliable poster elsewhere overnight - it seems GAN could be a bid target at $25 (around 50% above current levels):
"Credit Suisse equity analyst Larry Gandler has an interesting idea – Aristocrat could buy an iGaming platform company, and GAN could be the target for $730 million.
Such an acquisition would make sense, filling a niche in Aristocrat’s competition with IGT and Scientific Games.
Aristocrat has been assertive in moving online and has done so through acquisitions – social casino operator Big Fish and non-gambling social gamer Plarium – so buying a platform company would fit the pattern.
A $730 million GAN purchase would be over $25 a share, a nice premium for a stock now selling under $18.
However, CEO and chief shareholder Dermot Smurfit did not relocate himself and his family to the United States and change GAN’s stock listing from London to Nasdaq for just a nice premium. He has bigger ambitions.
Also, as a small company, GAN could always be vulnerable to much bigger companies. Being part of Aristocrat could give Smurfit the financial and marketing platforms upon which to build his technology platform business.
And, as the old saying goes, where there is a will there is a way."
Starting to get closer to my top-up point. If it hits 16s I am adding. Slightly surprised to see it back in the teens. Not sure what’s keeping it pegged right now.
New interview with Cordish Gaming's President reads rater well for GAN (remember, PlayLive! uses GAN's software platform):
Https://www.pennbets.com/cordish-online-casino-drive-players-future-properties/
Excerpts:
"Cordish Counts On Using Online Casino To Drive Players To Future Properties
By Gary Rotstein on Aug 28, 2020
It’s uncommon for a gaming company to launch an online casino before it has a physical gambling hall to visit, but Cordish Gaming Group sees that reversal of order as a positive.
The newest firm entering Pennsylvania’s casino market believes its new PlayLive! online product will attract thousands of customers and provide a head start for two casinos opening on opposite sides of the state in the months ahead.
“As we open those, we will have a much larger database [of consumers] and an easier way of selling them on visiting the casinos,” Cordish Gaming Group President Rob Norton told Penn Bets. “We’re using this to build the brick-and-mortar.”
"Maryland online site provided a model
Norton said the online launch using a GAN platform follows a successful use of that strategy — even with just a social iCasino instead of real-cash site — when Cordish’s flagship Live! Casino & Hotel at Arundel Mills opened in Maryland in 2012.
He said “tens of thousands of people” tapped into the social casino before the physical property was open.
“Those that signed up tended to come to the physical casino at a much higher rate, with a much higher level of activity of play,” Norton said, hoping for the same synergy in Pennsylvania."
Excellent news - great to see it now confirmed. This should help propel the share price back up to prior levels:
Https://uk.advfn.com/stock-market/NASDAQ/GAN/share-news/GAN-Announces-New-Tier-One-Client-Churchill-Downs/83152404