Betsson (Buy, TP: SEK100.00) - Sound plans for the Americas
We reiterate our BUY and SEK100 target price with further upside potential long-term from e.g. Betsson’s execution in US and Latam growth initiatives. We do not expect the Q1 report to trigger meaningful changes to the case and identify potential sports B2B customer signings, US market entry (H2e), strong underlying markets, and potential M&A as the key near-term catalysts.Betsson AB is a holding company. Co.'s core business consists of investing and administering shareholdings in companies which - through partners or by themselves - offer games to end users via the internet. Co. owns Betsson Malta which operates games through partnerships and the own websites www.betsson.com, www.casinoeuro.com and www.cherrycasino.com. Betsson Malta offers Poker, Casino, Sports betting, Scratch Cards, Bingo and Games. Customers primarily originate from the Scandinavian countries and other areas within Europe.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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