DnB Markets - Evolution Gaming Group AB (E3G1) Evolution (Buy, TP: SEK1800.00) - Strong table games in September

Report

DnB Markets

Martin Arnell

EUR 92.91 For Business Accounts Only

Evolution (Buy, TP: SEK1800.00) - Strong table games in September

According to our tracker, Evolution’s daily average player count continues to show monthly improvement since early August. In September, the tracker is so far showing +8% MOM driven by double-digit growth in roulette and baccarat. Although boosted by seasonality, we consider the near-term trends a relief and coupled with strong growth in new dedicated Live tables, we see potential upside to our Q3e revenue growth QOQ.

20/09/2021 11 EN

Underlying

Evolution Gaming Group AB

Evolution Gaming Group is a B2B provider of Live Casino solution systems in Europe. In Live Casino, a dealer runs the game from a casino table which is streamed in real time. End users, i.e. the players, make betting decisions on their devices (computers, smartphones, tablets, etc.) and are able to communicate with the dealer using a text chat function. Co.'s core portfolio consists of nine games such as Live Roulette, Live Blackjack, Live Baccarat, Live Casino Hold'em, Live Three Card Poker and Live Caribbean Stud Poker. Co.'s gaming portfolio offers the operators' end users an interactive experience that feels like playing in a real casino.

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SE0006826046 Frankfurt Stock Exchange Germany

Provider

DnB Markets

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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Analysts

Martin Arnell

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Evolution (Buy, TP: SEK1800.00) - Strong table games in September

Evolution AB: 1 director

Evolution (Buy, TP: SEK1800.00) - Late-summer player improvement

Boliden (Buy, TP: SEK420.00) - In a sweet spot

Beijer Ref (Hold, TP: SEK156.00) - Building (cash flow) confidence

Epiroc (Buy, TP: SEK230.00) - Mix headwind, benefits to come

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