$44.5m follower assets
Live Casino Market
Live Casino only accounts for 5% of Global Casino Market in 2022.
The Global Online Casino market is estimated at €28.4B with Live, estimated to account for 24.5%.
We believe that there is considerable room for growth for EVO.
Source: Evolution AB annual report 2022
Do these figures include sports betting or purely casino games?
@porchester not clearly specified Porchester and we don’t have access to this data. Total Gaming market (1st image) appears to include at least lotteries as well.
Regarding Casino market figures it appears that it is purely casino (2nd image).
As a former equity analyst that covered EVO.
Yes, there are a lot of room to grow and they are clear market leader.
However, the issue with EVO is regulations not market potiential. If they increase their market share with grey markets and greyer markets. Less investors can buy it from institutional investors, we never got a call from investors about the gambling companies we covered. Except from US based PE firms.
Also, owns it. But I only count on the earnings growth nothing on that the valuation will increase.
@investacus agree. Regulation is the key driver of future growth and the one that would help unlock the untapped market. at the same time regulation is the highest risk for gambling companies.
Not surprised that institutional investors tend to ignore gambling companies considering the ESG & ethical concerns.
Really appreciate the comments sir! Thank you.
@stockopine Regulations is a double-edged sword here. An opportunity and a risk.
Regarding the market opportunity. One of my last updates on EVO was about the TAM. This simple exercise gave us a TAM of 2-4 times the current. This is what I am banking on.
Thanks for the good posts!
Exploiting what many funds can't touch due to ESG. Not my circle, but love the idea :D
@arny_trezzi exactly. Similar to small cap companies which many funds cannot invest due to their size.
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