OPAP - Strong retail recovery in Q122
OPAP’s Q122 results showed a strong improvement from the prior year as it enjoyed a full period of (relatively) uninterrupted trading in its...
684 Views
Tabcorp’s Demerger Approved Paving the Way to Unlock Value
The demerger was overwhelming approved. Peer derating due to the market sell-off results in a lower SoTP valuation of A$5.62, a 13% upside to the...
282 Views
OPAP - Progressing the strategy
OPAP is a listed gaming operator with 100% pre-paid exclusive retail licences, which provide significant barriers to entry and strong recurring...
18 Views
Tabcorp’s Valuation Discovery into the Demerger
The scheme meeting to approve the demerger will be held on 12 May at 10.00 am. Our SoTP valuation is A$6.13 per share, which is a 14% upside to the...
393 Views
Casinos & Gaming: Bailing Out
With changing attitudes to ESG and the perceived social negatives of gambling, active managers are getting more and more comfortable leaving gaming...
162 Views