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Nov 15 2019, 06:30 GMT
GAN
Reinstated forecasts reflect strong year-to-date progress
DAVY VIEW
Following a period of being restricted on the stock, we reinstate our GAN forecasts in this report. Our expectations are now materially higher than earlier this year (2020F revenue £30m; 2020F clean EBITDA £9m), reflecting the encouraging ramp-up of the US online gambling market in the intervening period and GAN’s own market positioning. The stock, correctly in our view, has moved to reflect the same.
