GAN.L Share Chat (GAN)

How many shares got bought today before market?

How many shares floating?

Remember BOTB?

How many shares controlled by management.

This baby is gone in my opinion, they have enough shares to control the company, be bought out at that price £1.95 for anyone like me who still owns the share.

It will be take it or leave it, happened to BOTB couple of months back.

Hard to know what to make of this dog……

As is the case with any share repurchase scheme, GAN is under no obligation to buy back the full $5 million worth of stock. The company can also scrap the program at anytime.

Should the company buy back $5 million worth of its shares, that would represent 1.1 percent of its $427.51 million market capitalization. Based on the Nov. 30 closing price of $9.67, a $5 million buyback at that price would remove more than 517,000 of GAN’s 42.06 million shares outstanding from the market.

“We also recognize the value opportunity that has developed in our stock and want to be prepared to act opportunistically during periods when the share price becomes significantly dissociated from our future earnings potential,” said CEO Dermot Smurfit in the statement.

While GAN stock is getting drubbed alongside a variety of gaming peers this year, some analysts remain bullish on the name, with at least one noting it could be a takeover target.

GAN embarks on $5m share repurchase plan
By Gambling Insider
GAN Limited has announced that it will buy back up to $5m of ordinary shares after receiving authorisation from its Board of Directors.

The program will begin immediately and last until 31 May 2022, during which time the company will pay the prevailing market price at the time of acquisition for any shares.

GAN stressed that the authorisation does not oblige it to acquire any particular number of shares, and stated that the actual timing and manner of the buyback will be determined by management at its discretion and is subject to further discussions with the Board.

Several external factors will also play a role, including the market price of GAN’s common shares, general economic conditions, alternative investment opportunities and other business considerations in accordance with applicable securities laws and exchange rules.

The Nasdaq-listed company will use cash on hand and from its operations to fund the repurchase program.

“We continue to believe that the best use of our capital to drive long-term shareholder value is centred around our strategic growth initiatives such as investing in our technology, supporting client launches and building out our Super RGS content portfolio and omnichannel GAN Sports platform,” said GAN Chief Exec Dermot Smurfit.

“However, we also recognise the value opportunity that has developed in our stock and want to be prepared to act opportunistically during periods when the share price becomes significantly dissociated from our future earnings potential. Today’s announcement provides us with an effective tool to do exactly that, support our stockholders and drive long-term balanced returns.

You were right about the drop tricky, it really did dive down this time, sub $10 could be a good level for buying in.

The issue for me is that they keep missing parts of their guidance…..the share price reaction is almost like clockwork every single time. The Street clearly needs more convincing about their ability to hit all their guidance. Great product, but the competition is not going away either and take overs and mergers are starting to create some interesting dynamics.
I may well add /trade again as I usually do after the updates, but I am going to hold off for a little while this time as I am not sure the drop is done yet. All IMO. Hope everyone is ok.

"The last few weeks have been eventful as our management team debuted GAN Sports (our sports betting kiosk), our Super RGS platform and other new products at the Global Gaming Expo ("G2E") in Las Vegas. Our growing portfolio of products and content that roll up into our B2B product suite will further expand our position as a premier, holistic provider of technology solutions, popular games and original, exclusive content. We also provided a deep dive into our B2B and B2C strategies, the complexity and value of our technology, and showcased the depth and experience of our broader leadership team at our inaugural Investor Event in October. We believe these initiatives will ultimately yield over $500 million of revenue by 2026 and a long-term Adjusted EBITDA margin of 30-35% at scale. We continue to make exciting progress in each of our business segments and initiatives and are well-positioned going forward."

Price looks like it is starting to rise again, looks like positive news has landed now? GLA

Super quiet on this board nowadays. Took advantage of the usual trading update car crash to add at under 14 and sold at just under 18. Still leave my core holding but it got pretty predictable (well as predictable as these things ever get IMO), and it didn't disappoint.
Hope everyone is keeping well.....see you at the next update.

Hey I saw the write up you are talked about. Also I heared about regulations related to limits of payouts and deposits in online casinos. I just found an guide based on that regulations -
https://www.thesportsbank.net/business/how-to-choose-minimum-au-online-casino-deposit-size/. But still can't find real document with that regulations.

Gambling.com has a good summary report from three days ago on the current state of US Sports betting (I haven't shared the link but it's easy to find). It says that "In the 18 months since states could start taking legal sports bets, 19 states (plus D.C.) have either accepted bets or legalized the ability to do so. Up to a dozen more could follow suit in 2020. .......Since only Virginia and Michigan have seriously considered online casino or poker gaming, sports betting remains the key driver of gaming action nationwide [in 2020]" And when you consider that many of the current 19 haven't yet accepted bets and are still working through the issues, the scope for GAN looks very significant indeed.

B.Riley say Buy with a $26 price target:

Https://seekingalpha.com/news/3699405-gan-limited-rallies-after-michigan-deal-positive-b-riley-update?utm_source=advfn.com&utm_medium=referral

"GAN Limited rallies after Michigan deal, positive B. Riley update
May 24, 2021 8:41 AM ETGAN Limited (GAN)By: Clark Schultz, SA News Editor5 Comments

GAN Limited (NASDAQ:GAN) trades higher after adding a fourth casino client in Michigan via a new deal with the Saginaw Chippewa Indian Tribe of Michigan. The company expects to nab a "fair share" of the Michigan market through the Soaring Eagle Casino & Resort deal.
GAN also received some positive attention today from B. Riley, which transferred coverage to analyst David Bain.
Bain notes that GAN is leveraged to iGaming and online sports wagering total addressable market increases. He also values the recent Ainsworth deal at $2 to $6 per share.
B. Riley has a Buy rating on GAN and price target of $26."

Unfortunately the results day street reaction is becoming a regular headache. I am concerned that belief is starting to ebb away. Cannot afford to miss any part of guidance.

Https://thefly.com/news.php?symbol=GAN

"Gan Limited raises FY21 revenue view to $103M-$108M from $100M-$105M 16:02 GAN Consensus $102.24M. Karen Flores, CFO added:"Our first quarter financial results exceeded our expectations, and the outlook remains positive for the balance of 2021. We are increasing our full year revenue guidance to a range of $103 million to $108 million. As we gain scale, become more efficient, and move through a period of significant investment for growth, we anticipate to drive improved profitability. These factors will yield better operating leverage across the business over the long-term and further bolster our strong financial position as we execute our growth strategy, support new and existing customer launches and launch the B2C sports book technology later this year."

"Gan Limited to obtain exclusive online rights to future Ainsworth online games 16:05 GAN Gan Limited announced it has reached an agreement with Ainsworth Game Technology Limited to obtain the exclusive online rights to all current and future Ainsworth online games, today comprising over seventy unique games, for an undisclosed amount.

Jeff Berman, Chief Commercial Officer of GAN, said, "Today's announcement recognizes the benefit of marrying our distribution to Ainsworth's content and is an important step toward disrupting existing distribution channels in the U.S. online gaming space. This agreement ensures that GAN possesses differentiated and exclusive access to what we believe will be an ever-growing focus on recognized retail gaming content naturally sought-after by Americans engaged in playing online casino games. Our goal is to continue to build a leading portfolio of U.S. casino games to benefit our diverse clients and establish ourselves as exclusive providers of premier U.S. content.

We are excited to extend our long-standing relationship with Ainsworth, as they have built a global reputation for developing award-winning games for both the online and land-based channels."

I wonder where he's off to, and how this might affect GAN.

https://www.sharecast.com/news/news-and-announcements/flutters-us-boss-quits-affecting-listing-plans--7923674.html

The language in the New York bill suggests two providers will be used:

Https://sportshandle.com/ny-mobile-makesbudget-4621/

"New York Includes Mobile Sports Betting Framework In Budget Agreement Clearing Path For Legalizing Online Sports Wagering

Cuomo and legislative leaders agree on pact that effectively legalizes mobile sports wagering in Empire State"

https://www.fool.com/investing/2021/03/26/why-gan-ltds-shares-plunged-125-today/?source=djc&utm_source=djc&utm_medium=feed&utm_campaign=article&mod=mw_quote_news

Bit of a results day horror show. Costs spike not impressive.

Interesting Rivaldo. It’s been a wild ride this week on the Nasdaq. What’s interesting is that although this is in theory a tech play, there is a clear link to a recovery too, perhaps in a different way to some other tech. No doubt some of the $19trn will also find it’s way into on-line gaming. I think people do all sorts of things with the stimulus money. Anyway, let’s see how this week plays out. All IMO as always, but intending to keep holding.

Interesting commentary from Berenberg on prospects for gambling in the USA following Flutter's results this week....

"The German bank was particularly attracted by Flutter's commentary on the US. Sports betting is being legalised in many states for the first time following a Supreme Court ruling in 2018, allowing UK bookmakers - experienced in sports betting - to tap into the lucrative market.

....It upped its total US addressable market forecast to USD20 billion, "a material upgrade to our previous estimate".

This was due to a rise in the number of states expected to regulate sports betting.

"We now expect online sports betting to be available to 65% of the US adult population by 2025 while gaming is expected to be accessible to 16% (previously 50% and 11% respectively)," the company said."

Hi tricky752, GAN is extremely volatile day to day! Looks like you did well buying back given the big rise today to almost $29....

Any idea what caused the dip this morning Rivaldo? May be mad...but added a few back on the dip from the ones I sold.

Thanks for posting the numbers. Those numbers reinforce why more and more States will change their laws. Much needed tax revenue.
Was trying to work out whether the strength of Stirling will work against us, but I guess only if selling and bringing the money back - or perhaps in the valuation of the holding when looking at it in £. In that case I guess it’s a better time to buy but then it’s about the movement after the buy! All IMO and still trying to be sure I have this right!

More re that B.Riley target price upgrade to $35:

Https://thefly.com/news.php?symbol=GAN

"Gan Limited price target raised to $35 from $27 at B. Riley Securities

08:11 GAN B. Riley Securities analyst Josh Nichols raised the firm's price target on Gan Limited to $35 from $27 and reiterates a Buy rating on the shares. The initial Michigan launch numbers are out, and residents flocked to online betting establishments with $13.3M of online sports betting receipts and $29.4M of internet gaming revenue during just the first ten days of operation, Nichols tells investors in a research note. This bodes well for online-centric companies like Gan with its significant iGaming exposure through three business-to-consumer operators in Michigan, says the analyst. He believes Gan will be able to secure additional casino operator engagements as sports betting and iGaming legislation "proliferates across a growing number of states."

B. Riley have now raised their price target to $35 (from $27):

hTTps://www.streetinsider.com/Analyst+PT+Change/Gan+PLC.+%28GAN%29+PT+Raised+to+%2435+at+B.Riley/17995059.html?classic=1

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