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  • GAN Limited: A Stellar Show Among Premarket Movers

    GAN Limited: A Stellar Show Among Premarket Movers

    GAN Limited (NASDAQ: GAN) is a leading technology provider of real money internet gaming solutions in North America and a prominent international operator of Internet sports betting. It has recently gained the attention of market participants due to its considerable premarket activity.

    The Premarket Phenomenon

    GAN Limited has been one of the key US stock premarket movers, with a significant trading volume of 926.47 million shares. This was complemented by an impressive pre-market change of 0.8682 USD, representing a whopping increase of 97.35%. The stock also exhibited a pre-market gap of 21.10%, signaling heightened market interest.

    Market Participation During Regular Hours

    Despite the initial surge during pre-market hours, GAN experienced a slight dip in the last regular trading session. The price edged down to 0.8918 USD, marking a change of -0.90%. However, the trading volume during regular hours was still notable, reaching 119.705 million shares. This highlights the strong market participation that GAN has been able to attract.

    Market Capitalization Snapshot

    GAN Limited’s current market capitalization stands at 39.848 million USD. However, over the past year, the company’s performance has faced challenges with a -40.27% decline. This underlines the dynamic nature of GAN stock and the stock’s recent activity.

    Merging Prospects: GAN and Sega Sammy Creation Inc.

    GAN has recently finalized a merger deal with Sega Sammy Creation Inc., a wholly-owned subsidiary of Sega Sammy Holdings, Inc.

    Upon the merger’s completion, each of GAN’s issued ordinary shares will be converted into the right to receive $1.97 per share in cash, signifying a noteworthy premium of 121% over the closing price of GAN’s ordinary shares on November 7, 2023.

    The Way Forward

    The potential merger will be contingent upon the endorsement of GAN’s shareholders. The company will seek the approval of its shareholders through a vote on the Merger Agreement during a Special Meeting of Shareholders.

    If approved, all outstanding GAN ordinary shares will be acquired for $1.97 per share in cash. Consequently, GAN will become a wholly-owned subsidiary of SSC.

     

    Concluding Thoughts

    GAN Limited’s substantial pre-market activity and its impending merger with Sega Sammy Creation Inc. make it a stock to watch among the premarket movers.

    Despite some volatility in the stock’s recent activity, the company’s strategic moves and robust market participation signify its potential for future growth.

     

  • How Has The GAN Stock Appreciated 17% In After Hours Trades?

    How Has The GAN Stock Appreciated 17% In After Hours Trades?

    The stock price of GAN Limited (GAN) was up 17.49% in after-hours trading at $17.80 at last check. Last session, GAN shares fell by 7.85 percent or $0.29 to $15.15. GAN stock price fluctuated between $15.13 and $16.49 during the day.

    GAN stock has lost -44.18% over the last 12 months. It has decreased by -11.14% over the last week. Over the past six months, the stock has lost a total of -23.95%, and in the past three months, the stock has lost -26.10%.

    A strong preliminary report for the second quarter of 2021 helped GAN stock rise.

    GAN’s performance in Q2: how did it fare?

    GAN is a leading business-to-business supplier of software-as-a-service solutions for internet gambling targeted primarily at land-based casinos in the US. With market leadership positions in several European and Latin American markets, GAN’s Coolbet division is a leading provider of proprietary online sports betting technology. GameSTACK is a proprietary software system developed by GAN for internet gambling enterprises. A GAN license offers turnkey technology solutions for regulated online real money gambling, including online sports gaming, simulated gambling, and virtual online gaming.

    Coolbet, GAN’s new Business-to-Consumer (“B2C”) division, contributed strongly to the company’s preliminary financial results for the second quarter of 2021.

    • GAN expects to report revenue in the range of $34.0 million to $35.0 million for the second quarter, based on preliminary financial results.
    • In addition, GAN expects its adjusted EBITDA to range between $3.0 million and $7.0 million.
    • Not only are these figures more than what GAN expected, they also heavily outweigh strategic investments in talent and technology.
    • Moreover, GAN now expects full-year revenue to be between $125 million and $135 million in 2021.
    • During the quarter, GAN’s B2C offering in Latin America and Northern Europe performed better than expected.
    • GAN’s sports betting results for the quarter benefited from a higher-than-expected margin of 9.7%, compared to 6.8% in the first quarter, while marketing spend efficiency remained the same.
    • The growth in revenue for the GAN was accelerated by two major international sporting events in the second half of the quarter.

    GAN obtained exclusive rights:

    GAN Limited announced that the company has reached an agreement to acquire exclusive online rights with Illinois-based Incredible Technologies, Inc. Incredible Technologies has granted GAN the rights to all current and future online games it develops, with over 110 titles planned to be available through this agreement.

    Incredible Technologies’ New Jersey online operations will immediately contribute to GAN’s content licensing fees. Through the exclusive online slot partnership, GAN’s exclusive content in the U.S. represented approximately 7% of all slots sold in 2020.

  • The 3 Top Gambling Stocks to Buy for the long-term

    The 3 Top Gambling Stocks to Buy for the long-term

    The gambling industry has both top for growth and top for value stocks.

    After largely been hit by the pandemic, the gambling industry has entered a new phase. Number of gambling and casino companies are introducing online betting platforms, now. The significance of the online industry has grown during the pandemic. The businesses have understood that the future belongs to the e-market.

    The gambling sector is consisting of a broader gaming industry that focuses on leisure, casino gaming, and resort properties. The gambling companies own hotels, racetracks, ski facilities, and run activities that involve betting.

    As we head forward into 2021, things are expected to get better for businesses. For investors, in the meantime, they need to follow the stocks from gambling and the market trend—what’s coming up next. So, if you are interested in gambling stocks, here are the three top stocks for long-term investment.

    Wynn Resorts (WYNN)

    Wynn Resorts (WYNN) is a developer and operator of high-end hotels and casinos. The company has been focusing on its online network. Wynn is a well-established gambling firm in the market worth over $13 billion.

    On Feb. 10, 2021, the company’s premier casino and sports betting app, WynnBET was conditionally approved for sports gaming in Tennessee. WynnBET is currently available in certain other US states including New Jersey, Colorado, and Michigan. While it has access to certain other states and has submitted for a license in Virginia.

    Moreover, Wynn’s online app has collaborated with Memphis Grizzlies to strengthen its commitment to the Tennessee sports. In partnership with Grizzlies, WynnBET will work on the promotion through high-impact experiences emblematic of the energy for both brands.

    Wynn Resorts (WYNN) has made its move and is growing its digital ecosystem. With the opening of its resorts following the closure or restriction amid the pandemic, the company will improve its financial position in the coming quarters. So, Wynn is one of the top gambling stocks for investment in the long-term.

    International Game Technology (IGT)

    International Game Technology (IGT) is a multinational gambling corporation that specializes in the production of machines and other gambling technology. IGT has been working on expanding its ecosystem across its different segments.

    In that premise, the company recently announced the expansion of its historical horse racing (HHR) segment with IGT’s first historical racing machine (HRM) deployments in Virginia.In collaboration with Exacta Systems, the company at Peninsula Pacific Entertainment-owned gaming centers would provide players with their favorite game themes such as Red-Hot Tamales! ® and Fortune Coin®.

    In another development, IGT’s subsidiary, IGT Global Solutions Corp.signed a 4-year extension contract with Kentucky Lottery to continue iLottery and mobile app services. With this new contract, the company would target to engage new IGT PlayLottery content to its existing online gaming portfolio. 

    International Game Technology (IGT) stock has returned over 65% in the last five years to its shareholders. So, it would be an interesting bet in the long-term.

    GAN Ltd. (GAN)

    GAN Ltd. (GAN) is another prominent gambling stocks in the market. GAN is ranked as the #01 online gaming platform in the US. The company is building the background infrastructure that online gambling is built on. The software services include payment services, player identity validation, and regulatory reporting. And, with the acquisition of Coolbet last year, the company would penetrate the global sports betting market.

    A very warm coming event for GAN, the Super Bowl LV helped the company to deliver a record 14.6 million from settled online bets, popping up to a whopping 186% year-over-year. Most importantly, the company has signed a 10-year deal with one of its customers, Greenwood Gaming & Entertainment to license GAN’s patented iBridge integration framework.

    Moving ahead, GAN Ltd. seems a promising stock from the gambling sector.