NeoGames is also operational<\/a> in New Hampshire, North Carolina, and Virginia, and is pursuing iLottery contracts in Alaska, Connecticut, Maryland, Massachusetts, Missouri, Ohio, and Oregon. It also provides iLottery services in Alberta, Canada and some countries in Europe.<\/p>\nMichigan Market Musings<\/h2>\n With Michigan ranking as NeoGames’ largest market, the emergence of online casinos and sports betting there, coupled with tough comparisons, may be contributing to recent weakness in the gaming company’s shares. But investors may be overreacting to those factors.<\/p>\n
\u201cAfter analyzing the latest iLottery sales data from the state, we think the deceleration in Y\/Y growth is more just a function of NGMS finally lapping difficult compares from the stay-at-home tailwinds that benefited the broader online consumer beginning 4\/2020, vs. anything structural in nature,\u201d says Wieczynski.<\/strong><\/p>\nThe analyst adds Michigan iLottery sales are running about 100 percent ahead of last year’s levels, noting that investor fears regarding that state are overblown as it pertains to NeoGames stock.<\/p>\n","protected":false},"excerpt":{"rendered":"
NeoGames (NASDAQ:NGMS) stock is down 10.65 percent over this month, and off 51 percent from its 52-week high. But at least one sell-side analyst is saying that selloff is a case of too much, too soon, and believes shares of the iLottery provider can bounce back. In a recent note to clients, Stifel analyst Steven […]<\/p>\n","protected":false},"author":46,"featured_media":186194,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,13699],"tags":[],"acf":[],"yoast_head":"\n
NeoGames Stock Is Slumping, But Analyst Sees Reasons for Rebound<\/title>\n \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