George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the 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.
Tier 1 announced. Churchill Downs :)
Some weird after hours trading today....showing as 10% up after hours....although may calm down I guess.
"Following the earnings, Northland Capital Market analyst Greg Gibas said that “GAN offers an attractive investment opportunity due to its attractive market share and differentiated technology /IP.” He further noted “Relative to an investment in a single online casino operator, GAN's B2B model is positioned to scale faster than many B2C operators that are rolling out in new markets and offer an agnostic way to play online gaming growth in the US.” Gibas reiterated a Buy rating on the stock with a price target of $30 (45.1% upside potential).
Currently, GAN has a Strong Buy analyst consensus. The average price target of $28.83 implies upside potential of about 39.4%. Since its listing on Nasdaq on May 5, the stock has gained about 56%."
https://finance.yahoo.com/news/gan-drops-18-larger-2q-072910829.html
They paid 8 million in IPO costs, which is a big reason why they went into negative EPS. I continue to hold for the long term. Holding a lot of shares, no need to panic. This happens all the time in the market.
Yup, but market is frustratingly not in the same place........I will continue to hold, and may add if it hits the teens. I don’t see the demand for their product slowing.
Reads extremely well:
Https://seekingalpha.com/article/4370049-gan-limited-gan-ceo-dermot-smurfit-on-q2-2020-results-earnings-call-transcript?part=single
"Dermot Smurfit
Thank you, Todd and good afternoon everyone. GAN reported an excellent second quarter driven by nearly 100% year-on-year revenue growth, with the largest part of our revenue principally derived from US real money Internet gambling, growing a phenomenal 110% year-on-year on the back of $129 million in gross operator revenue.
Our revenue exceeded consensus estimate for the quarter and we're currently executing on significant growth through the rest of the year and reiterate our full year revenue forecast of $37 million to $39 million. Most interesting of all aspects of this quarterly performance was the gravity-defined year-on-year leap in US gross operating revenue derived from Internet casino gaming, which jumped 392% comparatively, and 53% sequentially.
I've also indicated in the earnings presentation, we've now made available, only 34% of total gross operator revenue in the second quarter of last year was derived from US real money Internet gambling, as compared to 70% in the second quarter of this year, which illustrates our phenomenal growth path right here in America.
In fact, during the seven months of this year, we delivered more gross operator revenue to our clients than in the entire calendar year of 2019. And in the current quarter, we continue to see high levels of activity, revenues and engagement continuing despite the reopening of our clients retail casino properties.
Looking ahead a few weeks into the fourth quarter, we anticipate the launch of Michigan, with technical deployment for several of our clients already underway, and our licensing application is in good order.
I'll now take this opportunity to thank our shareholders for their continuing support all again, as the leading provider of B2B enterprise software solutions for US land based casino operators. We anticipate maintaining and strengthening our leadership position as we continue to focus on new client wins and execution.
We are deriving our success in part by serving as a highly efficient and capable partner to several of the largest and fastest growing names in gaming and sports betting, Parx Casino, FanDuel, Ocean Casino Resort, the Cordish Group, these are just some of our clients, and we're proud to serve each one as a key technology provider. We anticipate 10-plus client launches in 2020 and remain well on track to achieve that goal.
To this point, I'll offer the observation that we've recently delivered two major client launches only days apart, with Cordish Group's real money Internet gambling website now available at playlive.com in Pennsylvania, launched in record time from signing contracts, and some months even before Cordish will open their retail casino property in Philadelphia, which I believe is a US industry first.
etc"
Well, not the best overnight chart to wake up to :o((
Initial markdowns are often too severe, and hopefully that will be the case here too. Hopefully there'll be a nice bounce given the reiteration of guidance on forecasts.
IPO costs are always written off as incurred in the period and shouldn't have been a surprise to anyone. Fanduel sports revenues will be a miss, but not significant in the scheme of things short-term and even less so as GAN grows revenues swiftly, including the likely extremely lucrative Q4 launches in Michigan.
Which is why GAN have been able to reiterate guidance for this year even without the Fanduel sports revenues.
Plus GAN has $64m cash to spend on growth and acquisitions, of which there are "several opportunities" at present.
And of course we can look forward to the news of the new ‘Tier 1’ client in the near future.
Looking a bit of a bloodbath tomorrow. Keep your early positions but anything around the $20 mark may need to be cut lose until this stabilises. Could be teens again but there presents opportunity.
After hours showing as down 15%, so guessing the update doesn't make great reading - that said, I know we have seen a big lift since joining the Nasdaq, but thought we would hold nearer to $30 than $20. I guess it's taking time for the revenue to become profitable.
Tricky - yep their website is very slow tonight! I haven't seen the report, but I'm a bit disappointed that the share price fell away today after such a great start. Hope the report reads well.
Was trying to access the report after close, but their website was horribly slow - something for them to work on for investors during releases perhaps - although they seem rather busy winning great contracts.
Lovely stuff - "over 20 million members".......
https://uk.advfn.com/stock-market/NASDAQ/GAN/share-news/GAN-Launches-Major-New-Client-Penn-Interactive/83108199
Extract:
"Penn National is the largest single casino operator in the United States to select GAN as its enterprise software service provider of B2B social gaming. The mychoice® social casino app, which launched today, will be fully integrated with Penn National’s mychoice® player loyalty program, which currently has over 20 million members.
Penn Interactive, a wholly owned subsidiary of Penn National Gaming, operates retail sports betting, online social casino, bingo and iCasino products across Penn National’s industry leading portfolio of 41 properties in 19 states. Together with Penn National’s properties, Simulated Gaming will now be served to casino patrons of more than 100 individual casino properties coast to coast in the U.S. The Client is the 17th U.S. casino operator to license GAN’s specialist software, which permits patrons to link reward cards to their online Simulated Gaming account and receive reward points automatically triggered by the patrons’ diverse online activities.
Jeff Berman, Chief Commercial Officer of GAN, commented:
“We are proud to have been selected by a genuine giant of gaming to upgrade their long-standing B2B social casino offering with a uniquely diverse Simulated Gaming content portfolio accessed via an enhanced custom front-end development and a full integration into Penn National’s market leading reward program, leveraging our unique patented technical capability to deliver on-property to online convergence for their carded patrons. We hope this marks the beginning of a partnership that may grow beyond the opportunity of Social Gaming for GAN.”
Jon Kaplowitz, Head of Penn Interactive, commented:
“The combination of GAN’s great team and proven ability to deliver quality products makes them an ideal partner for Penn. Our mychoice® social casino app will be a fun, free-to-play casino experience, and will allow our mychoice® members to continue to earn valuable loyalty points from the comfort of their homes.”
August 5th 2020
GAN .... today announced that it will release financial results for the second quarter and six months ended June 30, 2020, after market close on Thursday, August 20, 2020.
and today's news
GAN ... today announced the launch of the new “PlayLive!” branded Internet gambling business in the Commonwealth of Pennsylvania for Cordish Gaming Group (“Cordish”), the gaming division of The Cordish Companies
above from
https://www.businesswire.com/news/home/20200817005126/en/GAN-Launches-Real-Money-Internet-Gambling-Pennsylvania
Yup, it’s having a great bounce. Hopefully I have the right date for the results announcement this time so a good week ahead!
It's been going up fast, re-rating. Probably see 28 bucks very soon and hopefully move to 30 asap.
Which reads rather well, particularly that 30% of all US gambling revenue generated in 2019 was processed via GAN's software platform:
Https://gan-investors.s3.amazonaws.com/1597236897.678deae14f42b70090e11c7ed6f037a6.pdf
Apols, yes. Read the update too quickly.
Q2 results Aug 20 according to their website
Second quarter results call at 21:30. Let’s see.
Buying a load more today. Should return to 28 dollars.
Looks like you have called this right. It’s not easy to watch, but I suppose we have had a very, very good rise!
If head and shoulders is right (in the chart), then I see Buying opportunity again Late teens. And if it happens, Sit back and believe in Dermot.
"MACQUARIE RAISES GAN
Chad Beynon of Macquarie raised his target for GAN to $29 saying the second quarter iGaming performance is a positive for GAN as partners in New Jersey and Pennsylvania continue to perform well.
GAN should generate $9.1 million in revenue in the second quarter and $1.9 million in EBITDA, he said.
GAN remains the top iGaming pick given high growth and a clean balance sheet, he said.
He forecasts EBITDA of $11.9 million this year, $16.9 million next year and $24.6 million in 2022 with earnings per share of 14, 27 and 44 cents.
Overall, iGaming had a slight pullback in June as expected, but sports betting’s return to growth could offset any declines in iGaming, he said."
Thanks Rivaldo, that's a nice little article, it's amazing how well this stock has done, I can't believe I didn't top up when the price dropped to 65p this year. I can see the price nearing $50 with a good wind behind it, I'm not sure why the price has been slipping down last few days. GLA.
Great to see GAN's research coverage expanding (PS : for another picks and shovels play in a different sector, see CAPD, which is extremely undervalued imho):
https://thefly.com/landingPageNews.php?id=3127361&headline=GAN-Gan-Limited-initiated-with-an-Outperform-at-Northland
""Gan Limited initiated with an Outperform at Northland Northland analyst Greg Gibas initiated coverage of Gan Limited with an Outperform rating and $30 price target. He views Gan as a "leading and essential" Software-as-a-Service provider for iGaming that is well-positioned to capture the U.S. gaming market opportunity in its "very early stages," Gibas tells investors."