Evolution (Buy, TP: SEK990.00) - Impressive January player growth
Our proprietary data tracker shows 5% month-on-month growth in January for Evolution in terms of daily average players. After a temporary slowdown post the busy Christmas/New-year period, growth has been notably strong in the last 10 days (9% week-on-week growth). The growth in January was equally driven by the games categories and skewed to the latter half of the month. We believe this supports our street-high view of continued QOQ organic revenue growth in 2021e.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.
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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