Diamond Supernova 40

How to play Diamond Supernova 40

Betting shops declining for the twelfth consecutive period, standing at 5,617, a 3.6% decrease representing a loss of 208 shops year-on-year.

Various tier one and two retail operators, such as William Hill and Betfred, have scaled back and closed hundreds of shops between them this year.

Non-remote betting was reported at £2.4 billion (down 3.3%) with non-remote casinos at £933.9 million (up 0.4%) and non-remote bingo at £703.8 million (up 8.2%).

How to play Diamond Supernova 40

Ahlberg agrees the €16.4 million valuation is attractive, with a deferred consideration of around €10.4 million that reduces the immediate cash burden.

Corfai Capital Managing Partner and Founder Ben Robinson is even more bullish on the price, pointing to the circumstances in which GiG was able to acquire the business.

“On the numbers GiG has disclosed it looks cheap,” he says. “€16.4 million for 80% implies an EV of €20.5 million against roughly $50 million of run-rate NGR, 30% year-on-year growth and positive cash generation. €6m of cash on day one for a business generating $50 million of NGR tells you who needed the deal.”

How to play Diamond Supernova 40

“Our work is not driven by opposition to the gambling industry or to legal, licensed operators. Quite the contrary.”

The focus is on identifying illegal and unregulated gambling sites, operators that offer gambling services without the necessary licence, as well as sites that misuse, copy, or falsely refer to other operators’ licences.

“You can try to stop gambling, but then you go onto foreign gambling sites and crypto casinos and they keep appearing,” Madsen says.