The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Here's a link to last night's news - no wonder the aftermarket for GAN was good :o)) Should be a rather good opening today....
Https://finance.yahoo.com/news/gan-provides-june-2020-internet-210000077.html
"Total Internet Gambling Win Increased 117% from Prior Year Monthly Period
GAN Limited (the "Company" or "GAN") (NASDAQ: GAN), a leading business-to-business supplier of internet gambling software-as-a-service solutions primarily to the U.S. land-based casino industry, today updated the market following the publication on July 14, 2020, by New Jersey’s Division of Gaming Enforcement ("DGE") of historical Internet gaming and Internet sports betting financial information for the State of New Jersey during the calendar month of June 2020.
Highlights from the DGE include:
Internet Gaming Win was $84.9 million in June, compared to $38.1 million in the prior year period, reflecting a year-over-year increase of 123.1%.
Total Internet Sports Wagering Handle(1) was approximately $165.0 million for the month of June, up 40.1% from the prior sequential month despite the continued suspension/cancellation of most sporting events during the global COVID-19 pandemic. This compares to:
$117.8 million for the month of May 2020;
$54.6 million for the month of April 2020; and
$163.4 million for the month of March 2020, which was partially affected by the pandemic.
Internet Sports Wagering Gross Revenues(2) (after payouts) for the month of June were $12.8 million, compared to $6.9 million in June 2019, and is further comparable to:
$10.1 million for the month of May 2020;
$2.7 million for the month of April 2020; and
$13.3 million for the month of March 2020"
The markets have been down. I topped up. Will top today if the price continues to fall.
Last couple of sessions haven’t be so kind. I wonder if the news was not received as hoped, or whether it’s simply a breather
Hmmmm....this from yesterday:
Https://www.playpennsylvania.com/churchill-downs-betamerica-gan-kambi/
"Churchill Downs Finds New Horses in Kambi, GAN for PA Online Gaming Platforms
Churchill Downs plans to move its BetAmerica online gambling brand onto a GAN platform and a Kambi sportsbook.
BetAmerica’s offerings include a casino, sportsbook, and horse betting.
The company has used the SBTech platform and sportsbook for its BetAmerica brand."
"Churchill a new player in the PA market
Churchill Downs is relatively new to the PA market.
While better known for horse racing, Churchill announced plans to enter the Pennsylvania gaming market in August of 2018, assuming the operation of Lady Luck Casino Nemacolin and buying Presque Isle Downs & Casino. But the Presque Isle buy took until January of 2019 to complete.
BetAmerica knocked offline by an attack on SBTech
The BetAmerica sportsbook and casino were offline for more than a week in late March – the result of a cyberattack on SBTech.
Not only was SBTech slow to get back online after the attack, it also was not transparent with customers about the issue. The attack also took down New Jersey online sites operated via SBTech, sportsbooks for Resorts and Golden Nugget.
SBTech bought by BetAmerica rival
There is also the fact that a rival now owns SBTech. DraftKings has bought the company, meaning any growth from BetAmerica would also benefit a rival operator.
During a recent earnings call, GAN said they have an incoming Tier 1 client which could generate $300-400 million in annual revenue within three years.
Gan CEO Dermot Smurfit also said the deal would displace an existing US B2B provider, and the new product could be deployed in Michigan, Tennessee, and Illinois. Churchill Downs’ footprint is a match.
GAN’s GameStack platform is already live in the US. Multiple services can integrate into the software, including Kambi’s. And Kambi is on Wednesday’s PGCB meeting agenda to upgrade their PA sports wagering operator license from conditional to full.
Churchill Downs, DraftKings, and GAN and Kambi had declined to comment to OPR."
Struggling to break 30 atm. Should see it break soon once the next big client is revealed. LTH for me.
https://www.fool.com/investing/2020/06/27/why-gan-could-be-the-shopify-of-online-gambling.aspx
Magic...$27.
It will break out once the TIER 1 client is announced. If it retraces back to 23, I'll buy a load more.
Cheers Arron,
i'm now able to trade in my account, but just between 2.30 and 4.30 uk time. Is that standard for US trade or does HL offer a wider window for trade?
Yup, it just needs the next news to stay above $26 as it does seem to retrace from the 26s every time.
$26 dollars today with a high of 26.69. Looks like $30 is coming
I'm with HL and can trade them with no issues. Just a bit more expensive due to 1% currency conversion fee.
Currently have GAN shares in a uk ISA acc (x-o.co.uk) bought 2 years ago. They will hold them but i am unable to trade from the account. Can anyone recommend a UK ISA trade acc from which i can trade them easily.? Cheers
Sounds terrific. Bring on the news!
Tier 1 client is supposed to be huge. The SP will rocket on the announcement.
"The gaming software maker, which debuted on the Nasdaq in early May, didn’t identify the source of the new business. But on a conference call with analysts, CEO Dermot Smurfit provided some clues.
For real money internet gambling, we’ve reached an agreement in principle with a Tier-1 client that is looking to deploy our game stack technology in new addressable states, such as Illinois, Tennessee, as well as Michigan and other states in which GAN offers considerable existing operating experience, such as New Jersey, Pennsylvania, and Indiana,” said Smurfit.
Looking good. Had to top slice today - regretted it when I didn't last time it was up this high. Still holding plenty.
Wow it moved quickly today!
It’s been a really good week. Maybe we can challenge the all time high again over the next week. Certainly a hot sector.
It's getting passed. California need money to bolster their economy.
Good to hear. Quite a nice website too - love the diagram at the bottom of the latest results presentation showing the GAN boys on the roof of the building next to the casino siphoning off money via satellite!
Presumably, this California gambling ruling that I hear is coming up shortly can only help if it gets passed.
Conference call today with GAN. They revealed that they are seeing superbowl-esque activity in gambling. They are getting more business then they can handle. Future earnings are going to be huge. Staying invested for a while.
Decent recovery following the post close yesterday. Be good to see us get into the 23 again.....
Big drop on close. Guessing the financial update isn’t pretty. Will be watching closely for any top-up points.
Sold the extra ones above 22 as planned. Fingers crossed for a good rest of week. Stunning market frankly.