Jason Del Vicario EVOLUTION GAMING GROUP AB EVO-STO TOP PICK Feb 23, 2024

Swedish online gaming business. World's largest casino. Asset light business with high return on equity. Huge number of customers. Extremely profitable business model. Founder led and owned. Zero debt levels, and also pays a dividend. Will be a long term hold. Would recommend buying at current price.

Jason Del Vicario

Owned

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Consumer Products

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He owns this instead of DraftKings. Very high and consistent ROIC. Extremely rapid growth. Involved in live casinos.

TOP PICK

price target 1563.73 SEK Operates online casinos which became popular during Covid. The founder still runs the company. EVO is clearly the market leader. Recently added in the low-$900s. More US states are legalize online gambling. Their returns and growth rank highly. Trades at 28x PE.

TOP PICK

Backend gambling services online. Business is growing strong with demand for online gambling growing. High cash margins and free cash flow yield(50%). Expanding business into Canada & USA. Founders own ~10% of shares. Stock price down 50% which is creating good buying opportunity for investors.

PAST TOP PICK

(A Top Pick Oct 03/22, Up 22%)

Strong business with high margins. Largest casino in the world with white label products online. Excellent cash flow with great management team. Recent weakness in share price presenting good buying opportunity. Excellent long term value. Founder led & founder owned.

TOP PICK

Technically, the largest casino in the world. Provides online backbone for land-based casinos and online casinos. Based in Sweden. Founder run and owned. Trading at 19x PE. Strong moat, in part because product quality is so high.

No debt. Margins are some of the highest he's ever seen, in 60% range. Growing earnings rapidly in 20-30% range, though that's come down a bit from 40%. A 4% weighting for his portfolio. (Price target is in Swedish krona.) Yield is 2.7%.

(Analysts’ price target is $1479.13)

TOP PICK

Swedish gaming company that has low capital requirements, with huge customer base. No debt with founder led/owned management team. ~70% EBITDA margins. Trading at very good valuation. Has been buying shares.

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Jason Del Vicario EVOLUTION GAMING GROUP AB EVO-STO TOP PICK Feb 23, 2024

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