Sports Gaming Industry Up To Bat For Q3 Earnings
Sports Gaming Industry Up To Bat For Q3 Earnings
Summary
- We see tremendous upside in the sports gaming industry.
- Score Media and Gaming is the purest play in the US sports gaming market.
- We estimate upside for Boyd Gaming of up to $40 over the next 12-18 months.
Leading Off
Score Media and Gaming (OTC:TSCRF) ended August 31st, its first full quarter of New Jersey gaming, with their app the sports bet. The company achieved a new cue for revenue record of 6.4 million compared to 5.1 million last year, a 25% increase.
Although average monthly sessions only increased 6% the score social sports content reached 242 million users in the quarter a new record demonstrating year-over-year growth of 150%. Total video views of the sports the scores esports content achieved a new record of 85 million impressively posting year-over-year growth of 157%.
With with its partnership agreement with Penn national gaming (PENN) the company will be able to access and offer mobile sports betting to about 30% of the US population.
The company beat top-line estimates by 5% and matched EPS estimates for the quarter. 3 analyst follow Score Media and Gaming with an average price target of a dollar a share. (OTC:TSCRF) closed at $CAD0.57. The company represents the purest play on the US sports gaming market in public traded equities at this time.
Data by YCharts
Other Notable EPS Reports
Boyd Gaming (BYD). also reported earnings meeting estimates and slightly missing on revenues the company achieved improvement in operating margins across their various segments.
Powered by recent acquisitions Boyd posted 34% revenue growth and 70% earnings growth and is expected to earn a dollar 97 and 2020 relative to its current market price of 27 spot 25 Boyd looks like a value. At 20x 2020 EPS estimated, we see upside to $40 in the next 12-18 months.
Data by YCharts
Top Performers
Since May when we created our sports gaming index leaders are:(WIMHY) +42.78%(CHDN) + 40.49%(CZR) + 34.76%(PENN) + 16.22%
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Robert Maltbie, CFA
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