QIWI - Positive Changes in Betting Regulation
On July 3, President Putin signed off on new rules that ease the identification requirements in online betting, which will take effect by the end of this month. The idea is that if a customer is already identified in an Interactive Bets Accounting Center (TSUPIS) - there are two such centers in Russia, which were set up by a credit organization together with a self-regulated association of bookmakers - his or her documents do not need to be checked offline every time the customer makes a bet or claims winnings. QIWI is the payment provider for one of the two TSUPIS operating in Russia. The company's big advantage is its ability to identify a customer remotely. We think that the new rules will support migration from illegal betting sites to legal online betting companies, which is exactly the catalyst for QIWI that we were long awaiting. We reiterate our BUY rating and $24.94 target price for QIWI.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.