A penny not allocated is an opportunity lost
The best individual EVO analyst, hats off.
Very well written. Always enjoy your analysis!
The delayed studio openings are a red herring (earnings call Q&A: "the impact is a fraction of the FX effect"). The issue is there is little demand growth for now. Either that, or contracts are rolling over at less favorable terms (in view of the strengthening competition).
Thanks as always for the updates Ali!!
Certainly, here are the necessary corrections to your text:
Yet another nice evaluation 😊
Risks to consider for me:
Unhedged FX. This reminds me of the pricing policies of gaming platforms. For example, Steam will only collect payments in hard currencies but offers a lower pricing scale. Offshore casinos offer different currency options, and I think this creates FX imbalances.
Goodwill. This is a total pain in the arse. To me, it seems like just an item to inflate your balance sheet.
RNG and live casino trade-off. I wonder why they are so hesitant to open new studios?
Are you satisfied with the dividend yield?
How did you feel during the latest drawdown?
Thanks for the writeup! Well done.
Estupendo artículo. Mucho trabajo detrás. Enhorabuena y gracias por compartir. Un saludo!