NYX Gaming Group Ltd

NYX-X

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Analysis and Opinions about NYX-X

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Opinion
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COMMENT
COMMENT
December 9, 2015

Has owned this in the past. The only gaming stock he owns is Intertain Group (IT-T). NYX is certainly an attractive company, but he really needs to see them put the numbers down on the board. Last quarter revenue numbers were certainly in line, but cash flow numbers were not. They seemed to have more expenses and were not making the synergies he had expected out of the acquisitions they had made. Kept their guidance for 2016 at the same place, i.e., they will be positive on both an earnings and cash flow basis. Now it will be a function of Matt Davey and his team putting up the numbers and proving to the Street that they know what they are doing. Has a lot of faith in Matt who has been an operator in this space for a number of years, and is also the largest shareholder. This is on his radar screen and he is watching through the next quarter to see what happens with the financial numbers. If they improve, that would certainly be a place where he would step in. Based on the guidance, it is really, really cheap.

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Has owned this in the past. The only gaming stock he owns is Intertain Group (IT-T). NYX is certainly an attractive company, but he really needs to see them put the numbers down on the board. Last quarter revenue numbers were certainly in line, but cash flow numbers were not. They seemed to have more expenses and were not making the synergies he had expected out of the acquisitions they had made. Kept their guidance for 2016 at the same place, i.e., they will be positive on both an earnings and cash flow basis. Now it will be a function of Matt Davey and his team putting up the numbers and proving to the Street that they know what they are doing. Has a lot of faith in Matt who has been an operator in this space for a number of years, and is also the largest shareholder. This is on his radar screen and he is watching through the next quarter to see what happens with the financial numbers. If they improve, that would certainly be a place where he would step in. Based on the guidance, it is really, really cheap.

COMMENT
COMMENT
November 24, 2015

Had a 14% drop today. The whole sector has come down. Not sure why the sector has been de-rated to the extent it has. Views this as a more conservative way to play the gaming sector, because they provide the back office and the software for a lot of the online games. Still thinks it is a good, long term name.

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Had a 14% drop today. The whole sector has come down. Not sure why the sector has been de-rated to the extent it has. Views this as a more conservative way to play the gaming sector, because they provide the back office and the software for a lot of the online games. Still thinks it is a good, long term name.

TOP PICK
TOP PICK
November 20, 2015

An example of how the market can suffer from temporary stupidity in the moment. Stock fell 30%, off the earnings of Amaya (AYA-T). (Amaya is about 20% of NYX revenue.) Amaya had a really weak quarter because of their poker, but their other business of online gambling grew 25% quarter over quarter is a huge upside for their 2016 story. NYX has pure exposure to the online gambling, but no exposure to the poker side. Also, bought 2 businesses they had to eliminate some costs on, so expects Q3 will be their last negative EBITDA quarter. He is looking at a minimum of $0.25 earnings for 2016, and that number can easily grow by 50% in 2017. This is trading below 10X earnings on a company that is growing earnings by 50%. A 2016-2017 earnings story.

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An example of how the market can suffer from temporary stupidity in the moment. Stock fell 30%, off the earnings of Amaya (AYA-T). (Amaya is about 20% of NYX revenue.) Amaya had a really weak quarter because of their poker, but their other business of online gambling grew 25% quarter over quarter is a huge upside for their 2016 story. NYX has pure exposure to the online gambling, but no exposure to the poker side. Also, bought 2 businesses they had to eliminate some costs on, so expects Q3 will be their last negative EBITDA quarter. He is looking at a minimum of $0.25 earnings for 2016, and that number can easily grow by 50% in 2017. This is trading below 10X earnings on a company that is growing earnings by 50%. A 2016-2017 earnings story.

BUY
BUY
November 18, 2015

It sold off because of AYA-T. It is down more than AYA-T is and that is probably not warranted. Next week we will see where things are at. He has a small position and looking at adding at this level.

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It sold off because of AYA-T. It is down more than AYA-T is and that is probably not warranted. Next week we will see where things are at. He has a small position and looking at adding at this level.

TOP PICK
TOP PICK
October 22, 2015

Did a huge financing of $4.50. The stock has been weak and has also been pretty thin. Inside ownership is about 35%. It wouldn’t take much to swing the stock one way or the other. Management believes they can grow organic top line by about 30% next year. Organic growth of 30%. On consensus earnings it is trading around 12 times. Trading at around 7X earnings. They also do acquisitions.

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Did a huge financing of $4.50. The stock has been weak and has also been pretty thin. Inside ownership is about 35%. It wouldn’t take much to swing the stock one way or the other. Management believes they can grow organic top line by about 30% next year. Organic growth of 30%. On consensus earnings it is trading around 12 times. Trading at around 7X earnings. They also do acquisitions.

COMMENT
COMMENT
October 21, 2015

Hasn’t done very well of late. Currently below its issue price. The CEO, who is the largest shareholder, is pretty confident in what he is doing. Feels the market is in a risk off period where it doesn’t trust anything and wants to see the numbers delivered. Once the numbers come through on their earnings report, the stock should really start to move.

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Hasn’t done very well of late. Currently below its issue price. The CEO, who is the largest shareholder, is pretty confident in what he is doing. Feels the market is in a risk off period where it doesn’t trust anything and wants to see the numbers delivered. Once the numbers come through on their earnings report, the stock should really start to move.

HOLD
HOLD
October 6, 2015

You have to watch the peers and see what they do. They are starting to rally. Once it is completed, he would reduce. Stick with it as long as there is momentum and then scram.

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You have to watch the peers and see what they do. They are starting to rally. Once it is completed, he would reduce. Stick with it as long as there is momentum and then scram.

BUY
BUY
September 28, 2015

There have been dark clouds over the sector. He likes it and he likes the management team. The multiple is fairly low.

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NYX Gaming Group Ltd (NYX-X)
September 28, 2015

There have been dark clouds over the sector. He likes it and he likes the management team. The multiple is fairly low.

COMMENT
COMMENT
September 23, 2015

A spin out from Amaya Gaming (AYA-T). They manufacture the games. The stock price is running into a downdraft with the market. The business seems to be executing exactly as they had planned. They continue to grow their business and are making acquisitions. Management came out with guidance that was higher than the Street. They are big owners of the stock. Fairly cheap right now.

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NYX Gaming Group Ltd (NYX-X)
September 23, 2015

A spin out from Amaya Gaming (AYA-T). They manufacture the games. The stock price is running into a downdraft with the market. The business seems to be executing exactly as they had planned. They continue to grow their business and are making acquisitions. Management came out with guidance that was higher than the Street. They are big owners of the stock. Fairly cheap right now.

TOP PICK
TOP PICK
September 15, 2015

(A Pairs trade. Long NYX and Short Amaya.) This IPO’d Dec 30 and he thought it was under covered and modestly valued relative to the rest of the sector. Also, liked the business model. They provide the hardware and software behind a lot of the online gaming. It got caught in the downwind of the rest of the sector, and in order to get some protection he shorted Amaya.

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NYX Gaming Group Ltd (NYX-X)
September 15, 2015

(A Pairs trade. Long NYX and Short Amaya.) This IPO’d Dec 30 and he thought it was under covered and modestly valued relative to the rest of the sector. Also, liked the business model. They provide the hardware and software behind a lot of the online gaming. It got caught in the downwind of the rest of the sector, and in order to get some protection he shorted Amaya.

COMMENT
COMMENT
August 25, 2015

3rd largest manufacturer of gaming technology, and get a cut of the winnings from casinos globally. The fall in the stock is a little bewildering. Operationally things seem to be going very well. They finalized a $150 million acquisition of Chartwell and Cryptologic in June and raised $60 million at around $4.45, so you can buy the stock 40% lower without assuming a deal risk. Expects them to make $0.35 in earnings next year. Trading at about 6.5X in forward earnings and the CEO believes they can grow top-line at around 30% a year. That should translate into a minimum, he hopes, of 30% EPS growth. Board owns about 30% of the stock.

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3rd largest manufacturer of gaming technology, and get a cut of the winnings from casinos globally. The fall in the stock is a little bewildering. Operationally things seem to be going very well. They finalized a $150 million acquisition of Chartwell and Cryptologic in June and raised $60 million at around $4.45, so you can buy the stock 40% lower without assuming a deal risk. Expects them to make $0.35 in earnings next year. Trading at about 6.5X in forward earnings and the CEO believes they can grow top-line at around 30% a year. That should translate into a minimum, he hopes, of 30% EPS growth. Board owns about 30% of the stock.

TOP PICK
TOP PICK
August 19, 2015

This company builds the games. A spin-out from Amaya (AYA-T). In the process right now of rationalizing everything. Amaya didn’t spend a whole lot of money on a lot of those games, so this company is going to really revamp and build up some of those games. Have a large and really strong loyalty with their customers, so they will build that up. Really cheap. Did an equity issue where the IPO was higher than where it is now, and then they did an equity issue to pay for their most recent acquisition. The stock is down significantly on no news and they will be reporting their earnings next week. Doesn’t expect a whole lot from those earnings because the Cryptologic assets are not in there yet. Will probably see management give some indication on what they think their business is going to do. Stock could double from here. Management owns a big stake.

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This company builds the games. A spin-out from Amaya (AYA-T). In the process right now of rationalizing everything. Amaya didn’t spend a whole lot of money on a lot of those games, so this company is going to really revamp and build up some of those games. Have a large and really strong loyalty with their customers, so they will build that up. Really cheap. Did an equity issue where the IPO was higher than where it is now, and then they did an equity issue to pay for their most recent acquisition. The stock is down significantly on no news and they will be reporting their earnings next week. Doesn’t expect a whole lot from those earnings because the Cryptologic assets are not in there yet. Will probably see management give some indication on what they think their business is going to do. Stock could double from here. Management owns a big stake.

BUY
BUY
July 8, 2015

He likes it. It is an online gaming site. They provide the tools and software for others to provide the games themselves or lotteries. The Swedish lottery is their biggest customer. They like it because it provides a lower risk way of playing the online gaming business. The stock dropped after making a 150 million dollar purchase. Good long term story.

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He likes it. It is an online gaming site. They provide the tools and software for others to provide the games themselves or lotteries. The Swedish lottery is their biggest customer. They like it because it provides a lower risk way of playing the online gaming business. The stock dropped after making a 150 million dollar purchase. Good long term story.

COMMENT
COMMENT
July 3, 2015

This and Intertain Group (IT-T) were spun out of Amaya Gaming (AYA-T), and he owns both. He really likes this. Thinks there is tremendous amount of growth ahead of them. This company supplies all of the content to gaming companies. Recently announced an acquisition of the Cryptologic assets from Amaya. Their specialty is building the games and getting the gaming companies to really market the games. This generates cash flow for them. They have to figure out how they are paying for those assets. Recently announced a bought deal financing, which he participated in. They’ll also see a debt packet that comes out at some time. Once that is closed and all finalized, then he thinks it is business as usual. Expects this will grow over the next few years. This is a way to participate in Amaya’s expansion into the Sports Book and casino games, without actually owning Amaya.

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This and Intertain Group (IT-T) were spun out of Amaya Gaming (AYA-T), and he owns both. He really likes this. Thinks there is tremendous amount of growth ahead of them. This company supplies all of the content to gaming companies. Recently announced an acquisition of the Cryptologic assets from Amaya. Their specialty is building the games and getting the gaming companies to really market the games. This generates cash flow for them. They have to figure out how they are paying for those assets. Recently announced a bought deal financing, which he participated in. They’ll also see a debt packet that comes out at some time. Once that is closed and all finalized, then he thinks it is business as usual. Expects this will grow over the next few years. This is a way to participate in Amaya’s expansion into the Sports Book and casino games, without actually owning Amaya.

BUY
BUY
May 29, 2015

A spinout from Amaya (AYA-T), which is focused on the back end of the online gaming systems. They provide the software and hardware rather than running the games themselves. He likes that as a risk profile. There will be a capital raise, but the question is how much of that is already baked in.

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A spinout from Amaya (AYA-T), which is focused on the back end of the online gaming systems. They provide the software and hardware rather than running the games themselves. He likes that as a risk profile. There will be a capital raise, but the question is how much of that is already baked in.

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