Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
In a subsector with a high level of mergers and acquisitions (M&A), a takeover seems increasingly likely, said Peel Hunt.
Even without accounting for that possibility, the broker has a 60p price target and “buy” recommendation, which it said is underpinned by the trading prospects.
https://www.proactiveinvestors.co.uk/companies/news/964017/gaming-realms-attractive-for-multiple-reasons-suggests-broker-964017.html
Thanks for your very interesting post dusty.
In the interims, GMR stated that revenues are expected to GROW SUBSTANTIALLY in H2'21 and Align are predicting £14.9 FY revenue and £5.4m ebitda and they tend to be a little on the conservative side.
As far as 2022 goes, over the past year Align has upped its 2022 revenue prediction by 30% to £16m and Canada (expected to go live in a matter of weeks) is an unknown quantity but is expected to exceed any of the currently regulated US states. I think there is pent-up demand there. The Canadian Gaming Association estimates that Canadians have been spending $14 billion yearly on offshore betting so they’ve been crying out for a regulated Canadian igaming market.
As far as the potential for dividends, in the recent Interims GMR stated: “Cash or cash equivalents grew from £0.85m to £3.92m due to strong cash conversion of operating profits.”
If you have cash piling up in the bank you either: reduce debt, go on a spending spree, buy back some of your own stock, or pay out a dividend. I’m interested to know what’s going to happen about the Gamesys (Bally’s) convertible loan. Align Research current value the company at 53p a share and that includes provision for potential equity dilution from the Gamesys loan (currently around £3.5m and due for repayment in December 2022).
We are invested in a company that’s part of one of the fastest growing markets in the world. We are trading with positive cash flow from a stable fixed cost base and with low variable costs of just 18% of revenue. The more markets we gain access to, the lower the percentage of fixed costs per revenue dollar, so the higher our profits. I’m very optimistic about the near-term growth of this company, especially in 2022, which will be on us before we know it!
Only three operators - DraftKings, FanDuel (in conjunction with local tribes) and SugarHouse (Rush Street) in conjunction with the local lottery – have been approved to operate in Connecticut.
Only Draftkings and FanDuel are allowed to offer casino games. Slingo is directly integrated into both of these platforms and Draftkings boast "more than 20 Slingo titles".
Surely THIS is worth an RNS as launching in this market was one of GMR’s stated objectives when they announced the interims: “We are targeting further markets in North America including Ontario and Connecticut” and they have previously RNS'd the launches in Penn & Michigan.
Financial Times:
Burberry has poached Jonathan Akeroyd from Milan-based Gianni Versace to take over from Marco Gobbetti as its chief executive.
Akeroyd, who has been chief executive at the Italian fashion house since June 2016, reorganised Gianni Versace, accelerating its growth during his five-year tenure. Before that he led Alexander McQueen for 12 years, leading a turnround at the British luxury brand and preparing it to expand globally.
Gobbetti will step down on December 31. Gerry Murphy will then chair the executive committee until Akeroyd joins Burberry and takes the helm on April 1, the company said in a statement on Wednesday.
Gobbetti said in June he would leave Burberry to go to the smaller Italian brand Salvatore Ferragamo by the end of this year. Burberry has shed about 15 per cent of its value since he made the announcement on June 28 as investors were concerned that the group would fail to complete its turnround.
The group’s shares have barely moved over the year, with a 2.3 per cent gain.
“Jonathan is an experienced leader with a strong track record in building global luxury fashion brands and driving profitable growth,” said group chair Gerry Murphy.
Slingo live in CT.
"You will find the best online slots such as Divine Fortune, Cleopatra, Wheel of Fortune, Monopoly and Slingo. Many offer jackpot games with six figure payouts. FanDuel has a jackpots tab so you can see all the jackpot titles easily."
https://www.topuscasinos.com/connecticut
BetRivers has launched its CASINO4FUN platform in Canada. The platform was first launched in the US in 2016 to allow players to get a feel for online casino games (inc Slingo) in areas that have not yet legalised online betting, and it has just expanded into Canada for the first time.
As the name suggests it is a free-to-play casino used to attract players ahead of the real launch in Canada in the coming months.
https://www.gamingintelligence.com/products/social/146108-betrivers-expands-into-canada-with-new-social-gaming-platform/
https://www.thesun.co.uk/sport/betting-tips/16398446/sun-slingo-play-sun-bingo-new-game/
I'm with you, would rather see how this plays out. We really need another year or two's revenue under our belts before we start demonstrating our true profit potential. Hopefully the seller has finished now so we can let normal progress resume. If we do get an offer, want it to be from a higher starting point than this, but the BOD will obviously know the company's worth and soon there will be Canada to add into revenue projections too. BetMGM estimate that a mature Canadian market could be worth $7 billion. They're expecting an 18% increase in the value of their stock if they get a 20% share of the market.
Jim Ryan - one of GMR's North American non-execs who was also a non-exec at Gamesys - has now been appointed to the board of directors for Bally's (following their acquisition of Gamesys).
Interesting re our supply agreement and convertible loan with Gamesys/Bally's.
Bally's is on a long-term spending spree and according to this article from March, they're only just getting started.
https://www.legalsportsreport.com/49077/ballys-ma-spree-us-sports-betting/
Morbox, Why on earth would GMR strike a deal with one of its non-execs if it was of no benefit to GMR. Hardly jobs for the boys if Chris Ash had to resign his non-exec position as a result. Sounds like mutually beneficial to me and maybe this is a new direction for GMR to start incorporating other suppliers' games. New revenue streams always welcome.
Gaming Realms adds new revenue line in a first of its kind deal for GMR. Great new move!
"At the same time, we are very excited to be adding a new revenue line to our business by building a selection of 4ThePlayer.com's games into our platform. Their portfolio of games complements Gaming Realms' own Slingo content, and their decision to partner with us highlights the strength of our distribution network in the U.S."
In keeping with their new strategy, in August Scientific Games acquired Australian slot developer Lightning Box. Who else might they have on their radar?!!
https://www.scientificgames.com/newsroom/scientific-games-acquires-lightning-box/