{"id":142502,"date":"2020-07-22T10:40:13","date_gmt":"2020-07-22T17:40:13","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=142502"},"modified":"2020-07-22T14:11:12","modified_gmt":"2020-07-22T21:11:12","slug":"sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/","title":{"rendered":"SciPlay Scintillating for Investors as Analyst Forecasts More Upside"},"content":{"rendered":"

Social casinos delivered epic revenue growth in the second quarter, helping shares of SciPlay Corp. (NASDAQ:SCPL) more than double off the March lows. At least one analyst covering the company sees more upside ahead.<\/p>\n

\"Analyst
SciPlay CEO Josh Wilson (left) and founder Aaron Schurman celebrating the company’s 2019 IPO at Nasdaq. One analyst is very bullish on the stock. (Image: Nasdaq)<\/figcaption><\/figure>\n

Macquarie gaming and leisure analyst Chad Beynon<\/span> recently reiterated an \u201coutperform\u201d rating on SciPlay stock, while lifting his price target on the name to $18 from $15. Revenue for social casino operators surged in the second quarter<\/a> amid shelter-in-place directives and the shutdown of brick-and-mortar gaming properties forced by the coronavirus.<\/p>\n

Social Casino industry trends = US$6.2bn revenues reported in TTM, +14.6%,\u201d<\/strong> said Beynon in a recent note to clients. <\/span><\/p><\/blockquote>\n

\u201cGiven the strong 2Q growth, we are increasing our 2020 Social Casino growth forecast to +16% (vs. +8% prior), with MSD growth through 2023. With the top five companies accounting for around ~60% of the market, we believe the space remains ripe for consolidation,\u201d he continued.\u00a0<\/span><\/p>\n

Formerly the social gaming division of Scientific Games<\/a>, SciPlay was spun-off from that company last year. SciPlay’s well-known offerings are Jackpot Party, Quick Hit Slots, Gold Fish Casino Slots, Hot Shot Casino, 88 Fortunes, Bingo Showdown, and Monopoly Slots. The games are free to play but feature in-app purchases.<\/span><\/p>\n

A Long Road Back <\/span><\/h2>\n

When SciPlay was separated from Scientific Games, the former’s initial public offering (IPO) was priced at $15.25, and the stock quickly climbed above $16. <\/span><\/p>\n

\n

Despite rapid support from Wall Street analysts<\/a>, SciPlay faltered for months, save for a late 2019-early 2020 rally that was cut short by the COVID-19 market swoon. Since March, however, the stock is up 169.42 percent, as analysts and investors fawn over companies with exposure to the booming online casino industry, even touting social offerings that don’t require real money.<\/span><\/strong><\/p>\n<\/div>\n

SciPlay’s \u201c2Q Social Casino revenues grew 33% year-over-year and 32% sequentially to $157.6m, representing a meaningful acceleration from 1Q growth rates (+1% yoy, +6% seq),\u201d said Beynon.<\/span><\/p>\n

Important to investors is that the company’s June quarter growth was well-diversified across its product portfolio.<\/span><\/p>\n

\u201cSciPlay delivered strong growth across all of its titles, with particularly robust performance from Jackpot Party, Gold Fish Casino, Quick Hits, and 88 Fortunes. Daily Average User\u2019s (DAU) grew +4% yoy to 2.8m, while average revenue per daily average user (ARPDAU) grew +25% yoy to $0.60,\u201d notes the Macquarie analyst.<\/span><\/p>\n

Big Forecasts<\/span><\/h2>\n

At $18, Beynon’s price estimate on SciPlay implies an upside of 16 percent from where the stock currently trades and is nearly 20 percent higher than the Wall Street consensus.<\/span><\/p>\n

The analyst raised his 2020 revenue and earnings before interest, taxes, depreciation and amortization (EBITDA) forecasts on the name by seven percent and 10 percent, respectively.<\/span><\/p>\n

Noting that SciPlay trades at 10.4x his 2021 EBITDA projection, Beynon points out the stock sports a roughly 40 percent discount to the online gaming peer group, which is notable because many of these names are considered richly valued.<\/span><\/p>\n

Including Beynon, 13 analysts cover SciPlay, with nine assigning the equivalents of \u201cstrong buy\u201d or \u201cbuy\u201d ratings to the stock<\/strong>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Social casinos delivered epic revenue growth in the second quarter, helping shares of SciPlay Corp. (NASDAQ:SCPL) more than double off the March lows. At least one analyst covering the company sees more upside ahead. Macquarie gaming and leisure analyst Chad Beynon recently reiterated an \u201coutperform\u201d rating on SciPlay stock, while lifting his price target on […]<\/p>\n","protected":false},"author":46,"featured_media":142504,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,22988],"tags":[],"acf":[],"yoast_head":"\nSciPlay Stock Is on Fire, Analyst Sees More Gains Ahead<\/title>\n<meta name=\"description\" content=\"SciPlay stock is on a torrid pace as social casinos revenue booms and some analysts believe more upside is coming for investors.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SciPlay Stock Is on Fire, Analyst Sees More Gains Ahead\" \/>\n<meta property=\"og:description\" content=\"SciPlay stock is on a torrid pace as social casinos revenue booms and some analysts believe more upside is coming for investors.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-22T17:40:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-07-22T21:11:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/scpl.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/\",\"url\":\"https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/\",\"name\":\"SciPlay Stock Is on Fire, Analyst Sees More Gains Ahead\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/scpl.jpg\",\"datePublished\":\"2020-07-22T17:40:13+00:00\",\"dateModified\":\"2020-07-22T21:11:12+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"SciPlay stock is on a torrid pace as social casinos revenue booms and some analysts believe more upside is coming for investors.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/scpl.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/scpl.jpg\",\"width\":1200,\"height\":800,\"caption\":\"SciPlay CEO Josh Wilson (left) and founder Aaron Schurman celebrating the company's 2019 IPO at Nasdaq. One analyst is very bullish on the company. (Image: Nasdaq)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"SciPlay Scintillating for Investors as Analyst Forecasts More Upside\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SciPlay Stock Is on Fire, Analyst Sees More Gains Ahead","description":"SciPlay stock is on a torrid pace as social casinos revenue booms and some analysts believe more upside is coming for investors.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"SciPlay Stock Is on Fire, Analyst Sees More Gains Ahead","og_description":"SciPlay stock is on a torrid pace as social casinos revenue booms and some analysts believe more upside is coming for investors.","og_url":"https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2020-07-22T17:40:13+00:00","article_modified_time":"2020-07-22T21:11:12+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/scpl.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/","url":"https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/","name":"SciPlay Stock Is on Fire, Analyst Sees More Gains Ahead","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/scpl.jpg","datePublished":"2020-07-22T17:40:13+00:00","dateModified":"2020-07-22T21:11:12+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"SciPlay stock is on a torrid pace as social casinos revenue booms and some analysts believe more upside is coming for investors.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/scpl.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/07\/scpl.jpg","width":1200,"height":800,"caption":"SciPlay CEO Josh Wilson (left) and founder Aaron Schurman celebrating the company's 2019 IPO at Nasdaq. One analyst is very bullish on the company. (Image: Nasdaq)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/sciplay-stock-is-on-fire-analyst-sees-more-gains-ahead\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"SciPlay Scintillating for Investors as Analyst Forecasts More Upside"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/142502"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=142502"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/142502\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/142504"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=142502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=142502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=142502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}