RE: City23 Dec 2025 15:07
There is a well known phrase - "never catch a falling knife” - but at a price of .0025p - I have taken the opportunity to average down - I have just topped up.
If all goes to plan in January with the RTO - I see the following positives: -
1. Complete Transformation into High-Growth LatAm Sports Media Pure-Play. The RTO completion fundamentally reconstitutes the company into a 100%-owned, vertically integrated sports, media and iGaming conglomerate focused on Mexico. This isn't a minor pivot—it's a total replacement of the previous business model with exposure to a market projected to reach $11.47 billion by end-2025 and grow 70% by 2028 .
The Mexican market is further supercharged by the 2026 FIFA World Cup co-hosting, creating a rare confluence of regulatory maturity, consumer adoption, and one-time global event catalyst.
2. Demonstrated Revenue Traction with 90% Gross Margins - FY-2025 results prove the model works: revenue tripled to £1.4m (from £436k), with £1.35m driven entirely by the Mexican BET business launched in April 2025 - this is real, audited revenue from commercial operations—not projections.
3. Fortified Balance Sheet and Institutional Validation
4. Multiple Near-Term Catalysts and Re-Rating Triggers the next 90 days are catalyst-dense: -
- 8 January 2026 re-listing as Gana Media Group triggers index rebalancing, broker research initiation, and renewed liquidity .
2026 FIFA World Cup (June-July) positions the company to capture exponential user growth during a period of peak engagement.
- New independent board (Ramón Neme Aziz, Farzad Peyman-Fard, Brian Larkin) adds deep LatAm gaming and media expertise, addressing prior governance concerns .
- Admission document publication provides the first full audited look at Estadio Gana's metrics, potentially revealing hidden asset value not captured in the £86m pro-forma valuation.
Just my view - do your own research - do not risk money that you cannot afford to lose.