Gan Share Discussion Threads

[jon123] 05/1/2017 06:47

well without it there's a 100 million dollar hole in there budget lol

money talks but I'm sceptical

[cottoner] 04/1/2017 08:21

Press reports indicate 2017 looks more hopeful.

[jon123] 03/1/2017 08:29

ok last year I'm still not got use to the change in years lol

[cottoner] 03/1/2017 08:14

This year - already! - That was quick :-)

[jon123] 03/1/2017 08:02

pa senate has bottled it once this year already so I wouldn't hold your breath

[cottoner] 03/1/2017 06:41

On the other hand:

Many changes ahead for Pa. casinos in 2017

Western Pennsylvania gamblers can expect to get a taste of stadium gaming and double-deck blackjack in the coming year, while legal online gaming throughout the state appears as close to reality as it's ever been.







Signs Point To 2017 Action On Pennsylvania Gambling, But How Far Will State Go?

[wexboy] 03/1/2017 05:34

2016 – The Great Irish Share Valuation Project (Part IV):

Company: GAN (GAN:LN) (formerly GameAccount Network (GAME:LN))

Last TGISVP Post: Here

Market Cap: GBP 25 M

Price: GBP 36p

GAN’s share price has collapsed 80% from its all-time high in early-2014 – frankly, I’m surprised it didn’t receive a bigger thrashing!? I’m not sure I’ve ever witnessed a more cynical IPO launch – shareholders obviously didn’t realise they were buying into a company which boasted of its growth trajectory, but in reality sported a P&L where half its revenues & all its profits were actually non-recurring! It’s amazing management has even a shred of credibility left, considering the circumstances of the IPO, the subsequent collapse in revenue & the ongoing incineration of shareholder cash. Even now, management keeps reporting something called Clean EBITDA…which is utterly ridiculous & misleading when you’re burning that much cash! And the P&L isn’t much better, since they capitalise as much spending as possible.

Anyway, despite innumerable RNSs re contract wins, the only bright spot in the last few years finally came with the release of their H1-2016 interims. This showed a return to growth, with revenue up +35% yoy (driven by simulated gaming) to £3.9 million. Now one swallow does not a summer make, especially with this management team, but noting the revenue trajectory (& recent sterling weakness), an annualised revenue run-rate of £7.8 million would be very hard to miss. Alas, cash burn hasn’t improved – excluding a (potentially once-off?) tax refund, the company’s still burning £6.5 million pa!? Which means cash on hand of £4.0 million (plus £1.75 million from two recent placings) could disappear within a year, unless we see a radical improvement. So, on the one hand, such a company isn’t worth any more than the proverbial pound…but to an investor familiar with the sector, operating margins of 20-25%+ are entirely possible, given a larger revenue base or takeover by a larger competitor. Let’s just split the difference – in my book, that implies a 1.5 Price/Sales multiple, plus cash/less annual cash burn:

(GBP 7.8 M Net Revenue * 1.5 P/S + 4.0 M Cash + 1.8 M Placings – 6.5 Annual Cash Burn) / 70 M Shares = GBP 15.6p

GAN is still ridiculously over-valued – and still in a hole so deep, it may take a lot more dilution & share price weakness before we’re through… The one giant saving grace here – which may explain the presence of Dermot Desmond with a 4.6% placeholder stake – is the network of (mostly simulated gaming) relationships that GAN’s building up with local casinos across the US. That’s the real intangible value here…which could be an absolute goldmine in the hands of a larger competitor, and/or if the schizophrenic federal/state laws & attitudes re (online) gambling are more comprehensively reformed/relaxed (although, at best that’s bound to be slow & piecemeal). [Now I say it, what does Trump think about all this..?!] Then again, buying into a cash burning company, led by an untrustworthy management team – simply in the hope of a takeover – is almost inevitably a painful experience…

Price Target: GBP 15.6p

Upside/(Downside): (57)%

For related links/graphs/files & other TGISVP analyses/price targets: Google the Wexboy investment blog.

[cocker] 29/12/2016 15:28

My 10k buy today, thought I'd take a gamble on a gambler

[king kong dong] 20/12/2016 13:27

Turning upwards!!

[rivaldo] 02/12/2016 15:52

RNS - yet another Simulated Gaming contract:



"GAN launches Simulated Gaming™ for Twin River.
Experience fully integrated with Rhode Island properties' Rewards Program

Twin River Casino in Lincoln, Rhode Island offers over 4,200 slots, 113 table games, more than 162,000 square feet of gaming space, a major event venue and several bars and restaurants.

Highlights

· GAN launched its ninth Simulated Gaming™ client online at hxxp://play.TwinRiver.com following a rigorous technical deployment process meeting the compliance requirements of both the Client, and the Rhode Island lottery regulator.

· Launched on November 22, 2016 through linkage via www.TwinRiver.com with apps published on November 24, 2016 and patron marketing launched November 28, 2016.

etc"

[the destroyer] 11/11/2016 08:54

Just a matter of time for GAN, surely.

Extract from hxxp://www.onlinepokerreport.com/22374/out-state-casinos-interest-nj-online-gambling/

Parx Casino is a somewhat unwilling participant in online gambling. But as Parx Chairman Bob Green indicated at a 2015 hearing, if Pennsylvania is going to have online gambling, Parx is going to be involved.
Because of its close proximity to the New Jersey border and its strong brand, Parx would be in the enviable position of using New Jersey as a revenue stream, and not just as a testing ground.
Parx’s platform partner for simulated gaming in Pennsylvania, GAN (formerly Game Account Network), currently powers Betfair’s real-money online casino offering in New Jersey. The Borgata is expected to switch to GAN’s platform for online casino operations later in 2016.

[the destroyer] 11/11/2016 08:48

Interesting, if a little old, link.

Trump Entertainment Resorts has only looked at exploiting Internet gambling !! LOL!

hxxp://slots-guide.eu/gambling-industry-news/donald-trump-backing-legalizing-online-casinos-usa/

[trentendboy] 11/11/2016 08:46

Wrong call on trump.DYORLook who funded his campaign from vegas to the tune of millions

[someuwin] 11/11/2016 08:39

Trump has to be good news for GAN.

[the destroyer] 11/11/2016 08:35

Trent, Trump has an economics degree.

[trentendboy] 09/11/2016 14:18

Of course a collapsing US economy is not good for business but I cannot help thinking that on balance this is a good move albeit rather disruptive given his lack of experience and poor economics

[the destroyer] 09/11/2016 13:39

Trump is a free marketeer.....nothing but good for opening the online US casino market

[aishah] 09/11/2016 13:20

Trump election good for businesses I think. Should do no harm here imo.

[trentendboy] 09/11/2016 11:15

Trump will not necessarily be anti-casino given he owns a load of them - GAN flaling seems over done althought a dollar fall will not help companies who earn in dollars and report in sterling (like GAN).

However, the bigger picture is one of US deregulations - will it now be faster or slower?

That is the question. I suspect, perversely, this might turn out tobe good news for GAN and hence teh fall today might be a good chance to buy a few more

[jon123] 01/11/2016 07:44

hxxp://www.onlinepokerreport.com/22666/online-gambling-bill-passes-pa-house/

[trentendboy] 26/10/2016 07:01

Some crucial votes ahead. Slowly but surely the US opens

[mip55] 25/10/2016 15:41

Not in GAN but:SENATE1324An Act providing for fantasy contests; imposing duties upon the 2001 Department of Revenue, the Department of Drug and Alcohol Programs and the Pennsylvania Gaming Control Board; and making appropriations. (Senators WILLIAMS and others) 7Pennsylvania Senate schedule for today.