Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
SG are making some interesting moves. They recently appointed a new CFO, have just agreed the sale of their Sports Betting company and they plan to sell their Lottery division next.
The aim is to concentrate on building their online casino games division, Scientific Games Interactive.
"At the conclusion of this process, the new company will consist of leading Gaming, iGaming and SciPlay businesses, all of which have great momentum and will collectively deliver great value. We will capitalize on the increasing convergence of these businesses, as players look to play their favorite games wherever and whenever they want to play. As the leading cross-platform global game company, we are uniquely positioned to take advantage of the incredible industry transition that is underway. Given this significant opportunity, we are targeting our digital businesses to be comparable in size to the land-based gaming business within three years. I'm confident that, with these steps, we are well positioned for future growth prospects."
Was it Lobestermania? On the BetMGM blog they refer to the graphics as cozy nostalgia. I suppose it must have been designed for the people who have a hankering for that type of nostalgic feel to the interface. At least it was still good to play!
Yes, interesting point. I'm not sure how these things pan out but if a game is popular and you remove it from your site because a rival owns it then you're just forcing your customers to go to your rivals site.
I think it was Peroni who suggested that Scientific Games could be a suitor so there are others to consider too.
Besides I'm not really here for a buyout. If it comes at a good price then fair enough, but we're only just getting going with the US market and then, as you say, Canada has been added to the table now too.
Yes we'd all like things to move faster, but once we start making good and regular profits... and what Truro is waiting for starts getting whispered - the D word (dividends), then the institional investors should start showing more of an interest. Then it becomes one to tuck away and reap the rewards in terms of both capital growth + interest (dividends) - the double whammy every investor dreams of.
So buy out or not, it's a win-win as far as I can see - and we'd probably be better off in the medium term if we don't get bought out.
igaming revenues soaring.
Where else but this sector can you see this sort of continued month-on-month growth right now ?
The next trading update should be interesting.
https://www.bizjournals.com/philadelphia/news/2021/09/20/pennsylvania-gaming.html
Yes, the M&A activity in this sector is mindboggling. You must be doing well Peter having a stake in so many of them. Gamesys takeover finalises next week too. Once the bigger fish have been swallowed up, those left standing will start noticing the smaller fry with the big potential. Our time will come one way or another. I think we're going to do well on our own anyway, but then a potential buyer can see that too so it's all good.
Me too!
Align Research confirm GMR undervalued by 42%
http://www.alignresearch.co.uk/cpt-company/gaming-realms/
Bally's are buying out Gamesys and of course we are 4 years into a 10 year supply/5 year loan agreement with Gamesys, so interesting to see how that plays out.
Bally's are buying Gamesys for its in-house technology platform and our content is already fully integrated into the Gamesys platform.
Bally's want to become a leading online gaming company and the merger will create a highly cash-generative group, enabling it to pursue further "growth opportunities through strategic M&A.”
Now that we've got Michigan and Pennsylvania revene coming in on top of New Jersey and Italy revenues, the figures are going to finally start showing the true worth of this little company in H2 and even more so in 2022 with Canada coming online.
Exciting times ahead IMO as we continue to build revenues from a low cost base, generating more and more cash profits, via direct integration into the biggest online platforms in a rapidly expanding marketplace.
Ivor Jones, analyst at Peel Hunt commented: ‘Gaming Realms continues to demonstrate that it can develop compelling games content, grow market share and add licensees and geographic markets while keeping a lid on its cost base.
https://www.sharesmagazine.co.uk/news/shares/gaming-realms-shares-surge-on-strong-first-half-growth
In line with market expectations but still priced below our peers, according to Align Research in their note in May.
Align Research estimates for 2021 FULL YEAR are 14.9 revenue and 5.4 adjusted EBITDA. Interims show half year results of 7.7 revenue and 3.1 adjusted EBITDA so we are easily on target to meet market expectations, but based on these figures, Align gave GMR a target price of 51p (and that was before Canada was even mentioned).
Ontario authorities looking to open their igaming market in December so not too long to wait either ... in theory!
Other Canadian provinces also positioning themselves to launch an igaming market so this could massively impact revenues next year and beyond.
DraftKings to buy Golden Nugget Online for $1.56 billion, as gaming's M&A streak continues
https://www.cnbc.com/2021/08/09/draftkings-to-buy-golden-nugget-online-gaming-for-1point56-billion.html
In the 29 June RNS announcing launch in Michigan with BetMGM it stated:
"With further agreements signed with some of the largest operators in the U.S., our full suite of Slingo games will be released to the Michigan iGaming market soon, and we look forward to providing further updates in due course."
5 weeks later we must be due another update.
News of the Pennsylvania launch is also overdue.
The integration of Slingo into the BetMGM platform is set to reap massive rewards according to this article:
MGM Chief Executive Officer Bill Hornbuckle foresees a bright future for BetMGM.
Hornbuckle cited the fact that BetMGM’s revenue has increased ninefold, from $5.2 million to $45.9 million, between the second quarter of 2020 through June 30, as proof that the sports betting apparatus could generate substantial revenue for the company.
The iGaming operator is now the second largest, in terms of market share between online casino and online sports betting, in the U.S. marketplace, and Hornbuckle's hopes to put resources in place to propel BetMGM to the top spot in the iGaming industry.
He expressed confidence that BetMGM could eclipse $1 billion in revenue by the end of the 2022 fiscal year.
https://www.gambling.com/news/us/ceo-cites-betmgm-sports-betting-as-keys-to-2021-growth-2608900
Slingo coming soon to Twinspires (Churchill Downs) online casino in Michigan.
So presumably Slingo is now integrated into GAN's Gamestack platform which powers the Twinspires sites?
https://edge.twinspires.com/casino-news/slingo-strategy-top-5-tips-to-play-slingo-like-a-pro/
https://www.businesswire.com/news/home/20210426005694/en/GAN%E2%80%99s-Technology-Solution-Now-Powering-Real-Money-Gaming-for-Churchill-Downs-Incorporated-Across-Five-States-on-Single-App-in-Time-for-the-Kentucky-Derby%C2%AE