to $10 billion industry<\/a> over the next several years. Forecasts like that explain why investors are bullish on related equities and are willing to assign premium multiples to the likes of GAN.<\/p>\nIn the case of the UK company, its shares trade at 23.43x sales and 94.67x next year’s earnings, making it expensive by practically any conventional metric.<\/p>\n
Market participants are showing a willingness to embrace frothy valuations in the iGaming space, wagering that the success of the business in New Jersey and Pennsylvania, coupled with the need to replenish coffers in the wake of the coronavirus pandemic, will compel more states to embrace internet gaming, sports wagering, or both. In either scenario, GAN would benefit because its products are also used by sportsbook operators<\/strong>.<\/p>\nAnother reason investors like GAN: it carries no debt, a remarkable trait for a small-cap growth company.<\/p>\n
More catalysts for the stock could be imminent, as the company delivers second-quarter results on Aug. 20. GAN management could take that opportunity to comment on other new business, or update the investment community on the early results from PlayLive!<\/p>\n","protected":false},"excerpt":{"rendered":"
Gaming technology provider GAN Ltd. (NASDAQ:GAN) is trading higher by more than nine percent Monday. That’s after the company said the “PlayLive!” online gaming business, developed in partnership with Cordish Gaming Group, is operational in Pennsylvania. Making today’s move in GAN stock all the more curious are at least three tidbits. First, the UK-based gaming […]<\/p>\n","protected":false},"author":46,"featured_media":145148,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,16693],"tags":[],"acf":[],"yoast_head":"\n
GAN Stock Soars as iGaming Deal Comes to Life in Pennsylvania<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n