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I checked the price GMR closed at in New York and it was 58 cents which is equivalent to.... 42p. So, yeah, it looks like the price was manipulated to match the OTC market at close of play.
I expect the SP will revert back to what it was trading at here (pre-manipulation) when UK markets open again on Monday.
We had some nice momentum building yesterday so hopefully we can continue that on Monday. Looking good for results day.
Weird price action in last few minutes of trading today. A couple of tiny buys for a few quid posted at 45.6p. Then an immediate drop to 42p at close due to 3 tiny trades worth less than £100 between them! What's all that about?
After all that we are slightly ahead at the end of the day.
Fingers crossed everyone for a great week next week.
After the brief retrace, nice to see a bit of momentum building back towards the 47p highs we were at the beginning and middle of the month. Let's hope it sticks as an SP is this vicinity would be a very good platform to start from on results day.
GMR made another SEC filing today but it was only the half-year results to June so nothing new there.
Rise today could also be a read across from BetMGM results.
Our partners, BetMGM, have just announced they made almost same in Q1 this year as they did in the whole of last year.
They have also pledged to inject $450m dollars into growing their platform and presence in the US.
( Reminder of our agreement with BetMGM -
https://www.gamblinginsider.com/news/10913/gaming-realms-expands-us-offering-with-betmgm-agreement )
Hi Morbox. Everything's getting gobbled up lately but GMR has just listed on the OTC market in the US so fingers crossed they have their eye on an eventual full nasdaq listing, rather than selling to one of the big boys in this current feeding frenzy.
WEB is a blast from the past for me. Many moons ago, in my early days of trying my luck on AIM, WEB was one of the few companies I actually made money on. Nowadays the only AIM share I've stuck with is GMR and I'm not going anyway until it's realised its full potential or I get thrown out by a takeover.
According to the FT, BetMGM are forecasting a 400% rise in their revenue next year to $1 bn and GMRs games are integrated into BetMGM's platform.
BetMGM also projects that the total size of the US market will reach $27.6bn and its aim is to end up with a 25% share of that market.
The figures are staggering!
Michigan igaming revenue was $95m in March, up 43% on Feb, giving an annualised figure of $1.14bn for its first year. Entain and BetMGM came out on top, earning 30% of the revenue share.
In other news, Bally's successfully completed a $670m fund raise to help buy Gamesys. They were initially hoping to raise $600m.
Nice opportunity to promo upcoming games to industry decision makers.
https://sbcnews.co.uk/events/2021/04/21/casinobeats-slots-festival-to-showcase-hottest-new-games-releases-of-spring-2021/
Seem to have a steady production line now with games coming out thick and fast and these collaborations come with a built-in audience, ready to try out the new Slingo version of their favourite game. Looking good in GMR land!
Dusty, I'm not in RSI so you will know more than me, but seems to have been a few issues with their app which means that have lost ground to Draftking. Apparently RSI did not even have an iphone version of their app when they launched in Illinois and iphone users had to do some kind of workaround using Safari. I don't know if this is the reason for the recent drop in RSI share price, but it may be that our connection to RSI is what has been dragging on the price here too.
Certainly I wouldn't blame a US listing in the RSI drop. They wouldn't have got to $20 in the first place if not for that listing but you still have to perform well.
Not sure to what extent this affects us in the revenue via RSI, but let's not forget GMR also has partnerships with Draftking, Fanduel (Flutter) and BetMGM.
Whatever is going on with RSI, Canaccord are confident enough in GMR to significantly increase their holding just before the results are out so it's clear they are expecting good things here.
I notice that lanista on the other board says GMR joined the OTC market in the US today.
A few days ago I came across a SEC filing made by GMR on 8th April but it was for an old set of accounts so I didn't know what to make of it buy it seems the significance has now been revealed.
https://sec.report/otc/financial-report/277877
I wonder if there will be any mention of this in the results RNS and what effect it will have.
Motley Fool says City Analysts think this is well undervalued.
"I believe Gaming Realms (LSE: GMR) offers some staggering value at current prices as well. City analysts think annual earnings here will climb around 280% in 2021, resulting in a corresponding PEG multiple of just 0.2. Remember that a figure below 1 suggests that a UK share might be undervalued at current prices."
The other thing I noticed was the amount of A trades going through, which you might expect with a big drop. But with no valid reason for the drop that we are aware of, could the price have been deliberately walked down to trigger those stop losses and free up more shares?
There's a lot of strange action going on here lately and it smells of positions being taken. I don't think we'll know for sure where that leaves us until the results are out. All we know is this is the sector to be in right now and there's a lot of muscling in and elbowing out going on in this industry at the moment. The games are afoot!
No idea why the big drop today but others here were reporting they could sell as many shares as they liked but only buy £500 worth, so that's a good thing, right? Maybe we'll find out next week what (or who) the mm's have been gobbling up all these shares for.
Of course there's always the chance the results could disappoint, but does anyone here believe that? The American market is going absolutely berserk (see link below) so it's hard to see how we could fail.
Also I don't think that Canadian fund would have just upped their stake if there's anything odd in the results. I would hope a big stakeholder like them would be a bit more clued up than us about what's going on, so if they are happy to add, I'm happy to hold, even if it drops further. We've seen some huge rises lately, so we can afford to ride out a storm or two and see what the results brings.
Of course we all have a diffferent level of tolerance to risk, so everyone should do what they feel comfortable with. I'm just saying what I'm doing, not advising anyone else.
https://www.paonlinecasino.com/11561/march-record-98m-revenue-pa-casinos/