Gan Share Discussion Threads

[mylands] 29/3/2022 07:49

Coolbet fouders cannot be happy bunnies having taken a load of GAN stock at a price way above the current lowly $5. I cannot recall what the price actually was when they took the stock in payment for Coolbet, anyone know?

[mets333] 29/3/2022 02:53

Im raw 333, I asked at investor day back in October and he said Q2 2022. The fact that he didn't mention superbook with the upcoming launches this quarter tells me that it probably fell through for one reason or another. Highly doubt they'll be doing business together.

[daveme] 28/3/2022 14:47

A question that was posed on Stocktwits (by Raw333) was what happened to the Westgate Resorts’ SuperBook® (CO, NJ) real money gaming deal announced in the March 2021 Earnings Presentation? There's seemed to be no mention of it since.

Does anyone know whether this has been completed and gone live?

[daveme] 28/3/2022 13:48

Without CoolBet I'm not sure GAN would still be here, or at least it would be in a pretty sorry state (if it's not already in a pretty sorry state!). The success of CoolBet has kept GAN afloat. Whether the sellers of CoolBet wished they had their time again so they could make a different decision, I don't know, but the deal definitely benefited GAN shareholders.

With regards the patent litigation, GAN doesn't really have a choice. They have held off for a long time now, trying to persuade/cajole/threaten companies that are infringing their patent but they just keep being told to f-off. What else can they do? They know it will be a long drawn out process, with monetary costs involved as well as generating bad feeling amongst the very customers they wish to do business with.

There's also the issue of what happens if they lose! Where does that leave all those companies that paid GAN a fee to use its patent? High stakes all round.

Let's hope Dermot's view of the cast iron validity of the patent is correct!

[napoleon 14th] 23/3/2022 19:55

Understandably the market didn't like those results, & was expecting much better.
Last week's rise gave hope which wasn't confirmed.
The live price is US$4.80, down 0.66US$ 15 minutes from the close
but recovered from an intraday low of US$4.45.



The Smurf changed direction, going for B2C, which hasn't paid so far.
Had GAN stuck to the original gameplan, the picture would be different.

Was it a mistake? Certainly bad timing and a higher risk profile as a result,
particularly as we're now going legal against MGM, ENT's US partner - not a good idea -
but Dermot is a lawyer so he should know, yes? Famous last words?
One hopes that the B2B continues to grow with the overall market
& B2C gets fine tuned to make money, eg.: Coolbet might have a go in Brazil...

Whatever, Desmond has A LOT TO PROVE.
Question is "How long will that take?" if it ever happens.
I've kept mine as I'm unwilling to sell at these prices, tho' sorely tempted...

[john09] 23/3/2022 12:18

EBIDTA positive doesn’t mean a profit of course

[garmin1] 23/3/2022 11:35

Molatov, i agree with that not losing money would be significant progress. Given that they burnt through over 20% of their cash in Q4, they need to start turning positive cash flow, otherwise they’ll need to seek funding.

My main issue is I see no path to the revenue targets stated. The last three Q’s B2B has seen no growth and there is only the one tribal casino operator being added in H1 2022. The length of time it takes to get a GAN sports client up and running is a major concern for me. They announced the Red Rock deal in Oct 21, yesterday Dermot stated testing would be carried out near the end of 2022. I got the impression the revenue won’t start flowing until 2023. This implies that even if new clients are won now, they won’t be running until the middle of 2023 at the earliest.

I just don’t see how Dermot can state the 2023 target of $225m revenue is achievable.

When I invested in this company it was a B2B provider of tech to US online gaming participants. It’s now an B2C South American and European sports betting company.

[mylands] 23/3/2022 11:32

Sad to say too much 'jam tomorrow' for me.

A real shame to see what has happened with this company after so much promise. In just short of two years on NASDAQ, the share price has fallen from a launch of $13 to $4.50 in today's pre-market. Don't let's even think of the fall from the high it reached in Feb last year.

GLA, I think we will all need it.

[molatovkid] 23/3/2022 11:19

Just the fact they ain't losing money would be a good start.

I believe they are aiming for $500m-$600m revenue in 2025-26, so much larger profits then.

Admittedly not one for traders.

[john09] 23/3/2022 10:45

15-20 m EBIDTA doesnt get me excited . What am i missing

[rivaldo] 23/3/2022 10:43

Here's the Q4 conference call from last night. If they can deliver on the numbers suggested then it's easy to see huge potential upside from here.

With a current $232m m/cap, and indicative revenues this year between $155m-$165m and predicted EBITDA of $15m-$20m, it would seem that GAN is - certainly by American standards - extremely undervalued.

But there's plenty of work to do from here to restore the company's fortunes.....

[john09] 23/3/2022 08:13

Imagine trying to win business with the big boys and at the same time suing them. Wont end well. Bitter little company this

[mip55] 23/3/2022 06:53

MGM are the company GAN are suing for patent infringement it appearsDuane Morris filed a patent infringement lawsuit against MGM Resorts Monday in Delaware District Court. The lawsuit was brought on behalf of UK-based gaming software company GAN f/k/a GameAccount Network, which asserts a patent associated with casino gaming management technology. Counsel have not yet appeared for the defendant. The case is 1:22-cv-00361, Gan (UK) Limited v. MGM Resorts International.

[mets333] 23/3/2022 03:47

Not disagreeing with your take but cfo was talking about Parx. There is some distain there and I don't think they even like mentioning them by name.

[garmin1] 22/3/2022 21:35

That earning call didn’t fill me with confidence.

1. Dermot’s view the market will fragment seems wishful, indeed the analyst basically ridiculed him for suggesting it.
2. There is no real additional revenue being added to the accounts until at least the second half of the year. Dermot only stated the Red Rock deal would see ‘testing’; in H2.
3. The CFO let slip that the company had lost a B2B customer in the ‘north east’. She then suggested the company would look to acquire debt to fund the company objectives.
4. Dermot seemed less than convincing when he stated 2023 revenue targets of $225m. I don’t blame him as I’ve no idea how he gets then from $125m in under two years, given the above.

I need to have a think about what to do. I believe the company is undervalued, given recent share price movements but I also don’t see the catalysts to change the current trend. I’m holding but I wouldn’t be buying.

[rimau1] 22/3/2022 21:20

Thats a little embarrassing, yet CFO Karen Flores still appears to have a job. Sadly the results don’t make Gan look investible even at these levels. Better off backing Flutter/Entain IMO.

[john09] 22/3/2022 20:30

“ Operating Expense quarter over quarter comparisons were affected by prior quarter errors relating to capitalized costs that were not capitalizable, that were corrected in the tables below. We are evaluating whether these are material to the prior period filings.”

[mip55] 22/3/2022 20:21

https://www.businesswire.com/news/home/20220322006100/en/GAN-Reports-Preliminary-Fourth-Quarter-and-Full-Year-2021-Financial-Results

[daveme] 17/3/2022 21:20

My thoughts entirely, napoleon. Hopefully my small buy at $5.14 will be rewarded. I never seem to time my buys well and this time was the same since 2/3 days later it was $4.60! However, GAN seems to be on an upward path to the results at least so we'll see.

Up until now GAN's earnings updates tend to be poor, or at least poorly communicated. Hopefully with Ontario coming on stream, with both FanDuel and CoolBet, and GAN sports kiosks nearly here, the disappointment of Churchill Downs withdrawing can be smoothed over.

GLA

[napoleon 14th] 17/3/2022 17:33

Encouraging upward trend since Monday.
I hope that heralds some positive results
& a +ive forward looking statement.
GLA.

[napoleon 14th] 17/3/2022 00:27

mykands - I stand corrected as, unfortunately, you're right!

As for the compny buying its' own shares, it's usually done by those who
have no better ideas about what to do with cash. I hope a much chastened Smurf
realises he has to come up with ventures producing results that will flatter
rather than deflate his ego!

[daveme] 16/3/2022 16:40

Building up to Ontario Sports betting, hopefully on 2 fronts:-

hXXps://www.legalsportsreport.com/66383/fanduel-unibet-ontario-sports-betting-approved/