Lucky Farm Bonanza

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According to Multiples.VC, the average enterprise multiple (EV/EBITDA) of top US-listed gaming companies is currently 10x. Data from New York University last updated in January pegged the overall market average at 23.9x and 19.7x among EBITDA-positive firms, suggesting the sector is undervalued relative to other industries. In a report released Monday, Fitch Ratings said most North American gaming companies hold “Stable” outlooks with “adequate rating headroom” despite consumer headwinds.

Macquarie’s Beynon agrees with that sentiment, pointing to the relative stability of gaming companies through tough economic stretches such as the Covid-19 pandemic. Bankruptcies in the sector have been low relative to the broader market, he notes, and both land-based and digital companies have reason for optimism moving forward.

“It’s certainly not lost on us that this sector has underperformed for several years in a row just because it doesn’t have either the growth of say, tech companies, or the perceived free cash flow-insulated businesses, which we believe it does…We’ve thought there’s been value in the sector for a few years, particularly this year,” he told iGB.

About Lucky Farm Bonanza

Then, one month later, the end of the world as we know it actually happened. The Coronombie Apocalypse, everyone masked up and the Fed printed a skrillion dollars and I lost most of my other freelance arrangements as everyone went into hiding and confusion and pandemonium.

But the groundwork for my own thing had already been laid, as did the actual global backdrop for speeding up what I was already predicting was going to happen anyway. So I focused up and got it started. I still wrote for CalvinAyre.com though, which actually hung on, to my pleasant surprise.

Meanwhile, EGI continued to grow and a year later, meaning now, it’s taking off. I’m thinking at this point I really have to put all my focus on EGI and probably let go of my column, but I liked it too much because Bill allows freedom of expression, not to be taken for granted, especially not in this censorific world.

How to play Lucky Farm Bonanza

The press release also warned operators against complying with any payment requests from departments that aren’t legally authorised to do so.

It called for any such acts to be reported immediately to the Ministry of Finance and the Directorate General of Administrative, Judicial, State Property and Equity Revenues (DGRAD).

The DGRAD has been tasked with identifying and securing the cancellation of any irregularly issued payment notices.