Gan Share Discussion Threads

[gersemi] 22/5/2018 08:57

Major stock exchanges, like the Nasdaq, are exclusive clubs—their reputations rest on the companies they trade. As such, the Nasdaq won't allow just any company to be traded on its exchange. Only companies with a solid history and top-notch management behind them are considered.

The Nasdaq has four sets of listing requirements. Each company must meet at least one of the four requirement sets, as well as the main rules for all companies.
Listing Requirements for All Companies

Each company must have a minimum of 1,250,000 publicly traded shares upon listing, excluding those held by officers, directors or any beneficial owners of more than 10% of the company.
In addition, the regular bid price at time of listing must be $4.00, and there must be at least three market makers for the stock.
However, a company may qualify under a closing price alternative of $3.00 or $2.00 if the company meets varying requirements.
Each listing firm is also required to follow Nasdaq corporate governance rules 4350, 4351 and 4360.
Companies must also have at least 450 round lot (100 shares) shareholders, 2,200 total shareholders, or 550 total shareholders with 1.1 million average trading volume over the past 12 months.

In addition to these requirements, companies must meet all of the criteria under at least one of the following standards.



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$2 = 149p
$3 = 223p
$4 = 297p

interesting price targets indeed

[noujay] 22/5/2018 08:30

It's been talked about for almost a year now as being "medium term", so given that it's a US institutional investor just took c.17% it seems that things are heading that way so it might be reasonable to expect more on it later this year.Listing as a gaming/tech stock on Nasdaq would surely see some very interesting action!

[gersemi] 22/5/2018 08:28

My pleasure

[rivaldo] 22/5/2018 08:25

Thanks for the Irish Independent article gersemi - great to hear DS reiterating the likelihood of a NASDAQ listing.

No doubt American investors would as usual value this stock at a multiple of its current UK m/cap :o))

[gersemi] 22/5/2018 06:39

'Additionally, by partnering with GAN, the Chickasaw Nation potentially saved a lot of time and expense over developing its own gaming solution in-house.'...

This is the benefit of GAN. There's no need for a provider to invest significant amounts of capital to get up and running. They can simply 'install' the turnkey solution offered by GAN's gaming software at a fraction of the price. Those costs could run into millions - my understanding of how this works is pretty limited but I do understand that speed of start-up and a low cost solution should allow GAN to compete effectively

[gersemi] 22/5/2018 05:41

Smurfit's Gan eyes Nasdaq listing as it seeks US growth

Ellie Donnelly - May 22 2018



Gan, the gaming software company headed by Dermot Smurfit Jr, has said that its medium-term strategy is to seek a listing on New York's Nasdaq Exchange.

Speaking to the Irish Independent, Mr Smurfit said that investors in the US represent "a natural audience" for the company, where it is easier to explain Gan's equity story than in the UK.

Gan yesterday announced that it had raised £7.5m (€8.6m) as it continues its expansion in the US.

The funds have been raised on the back of a US Supreme Court ruling that last week struck down a federal law severely restricting sports betting.

The ruling is expected to lead to a liberalisation of US betting laws.

Gan said that it would use the funds - which were raised through a share issue - to "substantially" increase its engineering resources to better serve US clients' services, seek new US clients and launch new services there in anticipation of the more widespread internet sports betting.

Proceeds will also be used to repay in full a £2m loan note issued in April 2017 "in order to strengthen the company's balance sheet".

The company is now debt-free and capitalised to levels the directors of Gan believe "are reasonably required to serve major multi-property and multi-state casino groups in the US".

"This strategic capital-raising exercise positions Gan to consolidate its US market position and capture substantial incremental revenue opportunities available resulting from both internet gaming and sports-betting regulation in New Jersey, Pennsylvania and other US states expected to regulate internet gambling in the near future," said Mr Smurfit.

The over-subscribed share issue of 15,000,000 new ordinary shares of £0.01 each per share had an issue price of 50p per ordinary share.

The subscription shares will represent around 17.6pc of the enlarged issued share capital of Gan.

Upon completion of the subscription, Gan's enlarged issued share capital will consist of 85,051,924 ordinary shares.

Last week, the company issued a statement welcoming the Supreme Court ruling. It said it was preparing to launch internet sports betting in both New Jersey and Pennsylvania for its clients in the second half of the year.

Irish Independent
Follow @Indobusiness



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[barnetpeter] 21/5/2018 21:41

Web is up over 7 fold. Gan has doubled. The mkt for gan has just increased 50 fold.

[bookbroker] 21/5/2018 20:20

NYB - retained quite a few, take the view I’m happy to buy back any time, a profit is a profit, particularly in this market, my feeling cash is king unless a squeaker comes along, prefer the like of GTC., a company that could reach its past highs should the newsflow be positive, and a lowly valuation!

[cumnor] 21/5/2018 20:09

Seems like it. Not many stocks rise %40 above placing price in a day so keen interest and few sellers here. Looks like the mms are playing it teasingly to gradually deprive PIs (with little jumps) of their shares for more savvy investors who see the real potential here. Little free float and if today's RNS is to be believed most of the new shares are in US inst hands. I expected a bigger placing-many companies, esp the more frothy ones with little substance, would have gone the whole hog and gone with more cash and dilution but I reckon the Smurfit clan don't want too much dilution and are confident, if they need more, of raising plenty at a much higher SP, or through a NY listing where the Yanks love these techies.
Can't imaging today's new investors flogging them off after the cataclysmic news from the Supreme Court last wee. Hard to price GAN as really a tech stock which, if its' IP and wares (anybody understand what their software does)are as good as I think then the sky's the limit. It seems to be the O&G equivalent of picks and shovels for the renascent online gambling and money gaming industry. gla imo

[onjohn] 21/5/2018 19:57

Vlty


February 2018 tip of the month – Buy Veltyco at 90p, target to sell 125p+



A Trading Update from Veltyco Group (LSE:VLTY) earlier this month noted, following continued “strong” trading in December, results “significantly ahead of market expectations”. However, having exceeded 100p last year, the shares are currently available at 90p to buy and this looks to represent an opportunity ahead of April-expected results. BUY at 90p with a target to sell of 125p.

The Business…

The group primarily generates marketing leads and has marketing contracts for the activities of various partners in the gaming industry. However, there is an evolving emphasis on own-brand revenue from Bet90 (online sports betting and casino), Tippen4You (sports tipping forum) and it also currently has an exclusivity agreement to potentially acquire Ruleo (BTTY sportsbook brand).

Broker to the company Whitman Howard notes this evolution “will not only increase the scale of the business but also further diversify it. Additionally it gives management greater control over product, content and channels to market”. There also looks opportunity for further significant growth, for example in esports and with a crypto currency e-wallet.

Recent Trading, Forecasts & Valuation…

The trading update noted 2017 net revenues “in excess of €14.5 million” and operating EBITDA “in excess of €8 million”. Whitman Howard sees such EBITDA translating into earnings per share of €c10.3, and currently these rising to €10.5 million (earnings per share €c11.5) this year and approaching €13 million (€c13.4) next year. These compare to a current market cap of just over £67 million (€76 million, at €1.02 per share).

As such, the prospective price/earnings multiple is sub 9x this year and sub 8x next – and this is before considering net cash; forecast to have been €2.7 million at the end of 2017, and currently to rise to €9 million this year and more than €18 million next.

The broker notes “applying the peer average for FY18 to Veltyco’s FY18 earnings… implies a price of 133p per share” and that its five year DCF model points to a £94 million market cap; 126p per share.

Conclusion…

The recent track record gives confidence ahead of the April-expected results announcement and we look for further positivity there to suggest that broker estimates still remain cautious here – and bring the noted target prices into play.

The trade: Buy at 90p and upto 95p, targeting 125p+.

[ny boy] 21/5/2018 19:38

Book broker, have you sold out too early?

[noujay] 21/5/2018 19:29

Good performance today following the placing, and a neat deal too wiping out the debt and getting shot of the convertibles and their attendant payable interest.I've kept muttering about it and at the moment it hardly requires it for liquidity, but a dual listing would be a real kicker for this.

[bookbroker] 21/5/2018 17:35

The stock has doubled in the last month, prospects are good, but the news about gaming was anticipated, takes a while for the real returns to be seen!

[molatovkid] 21/5/2018 16:34

book....such a statement needs qualification I would say.

The US gaming market is just opening up, with massive potential. I think this is just the right time....

[bookbroker] 21/5/2018 15:54

Ur too late!

[ny boy] 21/5/2018 14:13

One to tuck away, the sector is very active and I am not surprised

[martinthebrave] 21/5/2018 12:46

Graham Neary highlighting #GAN today. This will only help to lift the share price I bought more today at 60p & 69.5p.


GAN (LON:GAN)
•Share price: 70.5p (+7%)
•No. of shares: 70 million
•Market cap: £49 million

Equity Subscription

I'm not familiar with this company but it struck me as an interesting piece of news after the recent bombshell announcement by the US Supreme Court, which means that US states are now free to make their own rules on sports betting.

Apparently, the black market in US sports betting is about 10x larger than the legal market, and much of this could be about to go legal.

Shares in the tiddler Webis Holding (LON:WEB) have been powering higher, and so have shares in GAN (LON:GAN). GAN ("Gameaccountnetwork") is a provider of technologies, platforms and games to online casinos.

Demand for GAN shares is so high, that the company has been able to raise £7.5 million at 50p, even with today's share price at 70p.

GAN will be debt-free as a result, and:

The Company plans to use the net proceeds of the Subscription to substantially increase GAN's software engineering resources to better serve existing major US clients' services such as the WinStar.com Overseas Internet Casino, launch new US clients and new services in the US in anticipation of Internet sports betting following the US Supreme Court's decision to lift the Federal Ban on sports betting delivered on May 14, 2018.
The company has been unprofitable in recent years but perhaps it is going to turn the corner soon, with so much new opportunity? Worth investigating.

[barnetpeter] 21/5/2018 11:54

Hit a 10 bagger today on Web on my cheapest buy from 2015. Sold some as my account looking a bit lopsided and just too much. Bought some of these. I am sure these will hit 100p very shortly.

The placing today have left the balance sheet in a much better position and I reckon phones are ringing....

I have seen estimates of this mkt being worth between 50 and 400 billion dollars a year. Over the next 5 years this sector is going to soar .....Americans dont like restrictions on what they do with their money and the states want the huge taxes.

Just starting the rise here.....

[borg45] 21/5/2018 11:25

Moving again should get another boost come 14:30 with USA opening

[ny boy] 21/5/2018 11:24

Yes I always try and build a core holding and then do other large trades as and when market permits.

Here is easy to sell but much harder to buy anything above 2000+ shares.

Looking forward to plenty of news flow this year out of the US GLA holders

[gersemi] 21/5/2018 11:15

I wonder if the placing is a precursor to a deal(s) yet to be announced? I hope that doesn't sound like a ramp as I don't believe BB chatter impacts on share prices. I'm simply throwing ideas around

[longshanks] 21/5/2018 10:42

I wasn't aware you did long term holds....

[ny boy] 21/5/2018 10:34

Party hasn’t really got started yet, long term hold for me.

[bookbroker] 21/5/2018 10:23

We know all that, have you just realised, ur late to the party!

[ny boy] 21/5/2018 09:41

Huge rewards ahead for those active in this market...


Sports betting now might become similarly widespread in the U.S. The great American expectations for the pastime—blasted by critics as addictive and impoverishing, and praised by fans as fun and lucrative—follow the past week’s Supreme Court decision nixing federal prohibitions on states’ allowing it. Estimates for the U.S. market’s possible annual size range from $100 billion to $400 billion.