Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I love CNBC. It’s on in the background most of the day....Jim has been a legend through this virus. You are right re Casinos....caused mainly by social distancing and travel bans right now...many with big hotels and a lot of rooms...empty. No such issue with on-line. 100% agree that it needs to be responsible gambling, and suspect the government will get taxes. Having said that, I have no issue with using these boards for some good discussion and it should help people do their own research and thinking before investing in any stock. Personally I like GAN. Morally, some may decide it’s not for them, just like many will not invest in oil, tobacco etc.
I trade in the US, very straightforward once you understand FX fluctuations if you’re actively trading
Sign up now for a W-8BEN now online with most providers including interactive investor
The whole purpose of the move is to reach a wider audience
Folks just thought if you can you should look at Closing Bell on CNBC (Sky 505) around 6 every day. You get it warts and all, NB tickers for indigenous casinos. US states are teetering on the edge in some cases e.g. PA with only 8 hours cash reserve; may play positive or otherwise if some states need to raise cash or get panned for encouraging gambling when there are so many out of a job. Hope it helps to encourage thoughts. Please DYOR and final post here GLA.
I suspect you are right. Even though it is perhaps a little counter intuitive when you look at where the future revenues are likely to originate from. International dealing fairly straight forward with the right trading account, although clearly subject to exchange rate fluctuations. I noticed sports wagering was down as expected.....not much to wager on, but increases elsewhere....and bricks and mortar casinos remain pretty much closed.
GAN Reports February 2020 Internet Gambling Growth For Pennsylvania
Internet Gambling Win Increased 20.7% from December
London | March 30, 2020: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gambling software, services and online gaming content in the United States, today updated the market following the publication on March 18, 2020, by the Pennsylvania Gaming Control Board ("PGCB") of Internet gaming and Internet sports betting financial information for the calendar month of February 2020 in Pennsylvania.
Highlights from the PGCB include:
· Internet Gaming Win was $19.5 million in February, reflecting an increase of 39.6% from the prior sequential month. This compares to:
- $14.0 million for the month of January;
- $10.6 million for the month of December; and
- $9.7 million for the month of November.
Folks GAN undertook a strategic review (see previous RNS) that pointed up the options and decision was to move to NASDAQ, and this is still the current thought. If this happens then interest from UK buyers may fade over time? I no longer hold having been around for a good run. GLA and DYOR
Yes this is a monster stock. I added all the way down and the low I got was 0.64. Sold those yesterday for 135 ....with reluctance and only because I am worried about the mkts tanking again as the USA realises this virus is a bit more of a problem than Trump will accept. How many of those $1200 cheques will end up gambled away I wonder? This remains my biggest holding by miles and I still see this at above 5 pounds a share at some stage.
Yup, another great RNS from GAN......
Excellent news - nicely timed to get US investors even more interested pre-NASDAQ:
https://www.investegate.co.uk/gan-plc--gan-/rns/gan-confirms-internet-gambling-in-michigan-state/202003270700078408H/
- new Chippewa Indian client for GAN's internet gambling platform in Michigan with 5 casinos
- new online business with a major U.S. casino operator client
"With a population of 10.0 million (3.1% of the U.S. population), the Michigan Internet gambling market is forecast to generate $377 million in Gross Operator Revenue in the first 12 months of operations, increasing to $836 million in the fourth operating year (source: Regulus Partners, an International gambling consultancy)".
"Due to the extent of the Client's substantial assets, this Client's Internet gambling business is currently anticipated to be a significant contributor to GAN's full year revenues in 2021."
Liberum today retain their 200p target price.
They also retain their forecast for this year of £10m EBITDA, £4.6m PBT and 5.2p EPS.
There's no forecast for next year, but I suspect when it appears it would be 10p+ EPS? That's pure instinct with no calculation :o))
I also note that their forecasts are based on a £:$ rate of 1.30. Given where the pound is and is likely to stay for some time, I'd say that makes their forecasts extremely conservative.
Agree. Surprising the board is so quiet. Debt free and cash on balance sheet, with a product that seems to be growing in demand. In this climate and preparing for the future, that is a good position to be in.
A superb update.
I've noticed that quite often recently GAN has picked up in the afternoons, so perhaps there really is an effect from Americans buying in after they've woken up. I'd expect a similar effect this afternoon.
New client wins, an upturn in online revenues, virus-proof - what more could you want in this market....happy to hold and hold for much more.
What a bargain this was a few days back. Cash rolling in and business in great shape whilst casinos closed. Yes, impact from sporting events but they look to have made up for this.
Yes I agree no listing. But we do know that online gambling is soaring as billions sit at home
The Financial Conduct Authority (FCA) has asked firms to delay publishing their preliminary financial results to allow time for accurate reporting and reduce staff pressure as the coronavirus outbreak is changing the reality in which businesses operate. The watchdog said it ‘strongly requests’ listed companies ‘observe a moratorium’ on the publication of such statements for at least two weeks, adding that investors rely on ‘trustworthy information on the companies whose instruments they trade’.
Given this situation I can't see GAN listing in the US anytime soon. Best to play down the potential for a US listing soon so that when the delay is announced then it isn't unexpected and the share price won't dive further.
now see 130p here next week. Marketwatch said today online gambling is booming. People like to gamble and they will get bored sitting at home. Also, they will think why not have a bit of fun when I might get the virus and end up in a mass grave? Brutal but true.
Good to see the sp recovery in the last 3 days but still a long way off it’s true potential, reflecting the enormous growth prospects in the US, the proposed NASDAQ listing, and despite the short term set backs.
Virtually all shares be rallied in the last few days and of course many of these gains could quickly evaporate until the Corona problems are resolved. All shares are currently a bit of a lottery at present but long term strong fundamentals will prevail and GAN is currently high up on my list for future growth.
I wrote this a while back
"So if people in New Jersey stay at home more due to the virus situation and spend less money going out, would that cause them to gamble online more or less? Just saying."
Now I notice there was a favourable RNS on March 10 ........
" GAN Announces Favorable Italy Trading Update"
" Following imposition of certain measures on February 23, +13.9% more online bets have been processed year-on-year via GAN's technology Platform in Italy during the following fourteen (14) days. The Company has seen these trends continue into March."
There you go. Recovery now. Only just got up so didn’t sell at 96!
I bought a load at 62p and 64p and looking to sell at about 96p....enough to get cash back. That will significantly reduce my average. I dont really see how GAN will be affected. Indeed all the signs are that online casino gambling is soaring. I bought William Hill today at 29p. They were 200p a couple of weeks ago. I know things are very bad but these 80 to 90 per cent falls are discounting everything.
Zooter, agreed, provided it has cash to get through the period until things are back to “normal”, why wouldn’t it triple from here? There may be fewer bets if money is tight for some but, on the other hand, more and more states will be online within the next 12m.
Amazed how the sp has fallen 35% since Monday morning and hardly earth shattering volumes (approach 2.86m shares traded in 2 days), let alone 70% down from the beginning of January. Virtually all shares being crucified on the back of Corona virus , whether merited or not. Seems to be regular price monitoring here but obviously nothing untoward and all above board.
How far down will they take it. 50p, 40p, 30p or lower. Anything is possible while they have sellers. There will clearly be some impact on revenues short term but hardly to the extent that justifies the current falls. Great profits to be made from these levels for some. Just wish I had sold and bought back.
online gambling is well up and people stuck at home will gamble more. GAN will be a big winner imo but when to buy more? Not yet I suspect. 50 pence maybe? That might be hit this week I guess.....
But gamble on what? Online casino, fine. Possibly no US sports events for at least three months. But when everything is back up, the potential is even larger as we have more states coming on board as well as the listing. I think GAN has enough cash to get through this difficult period but in any case wouldn’t have trouble raising it.
Agree mate. All bets are off.