Our opinion on the current state of CORONAT(CML)
Previously operating under the name RECM Calibre, Goldrush is engaged in Bingo, Limited Payout Machines (LPM), and Retail Sports Betting. The company has shown improved financial performance and operational growth, particularly in its gaming operations.
In its results for the six months ending 30th September 2024, the company reported a 25.9% increase in net asset value (NAV) to 1540 cents per share and headline earnings per share (HEPS) of 113.77 cents, compared with a loss of 243 cents in the prior period. The company noted, "Total Gross Gaming Revenue for the six months was R902.5 million, 5% up from last year. Food and beverage revenue, which is only associated with our Bingo premises, reduced by 15% to R34.2 million as some restaurant areas were outsourced to specialist operators. The gross profit of the gaming operations increased by 2% to R522.8 million, and Goldrush repaid R34 million of its bank debt."
Since the listing of Goldrush, trading volume has significantly increased, with the share now trading approximately R137,000 in value daily. The rising share price suggests accumulation and growing investor interest. While it is still early days, these developments indicate that the share has the potential to become a strong performer over time.
In its results for the six months ending 30th September 2024, the company reported a 25.9% increase in net asset value (NAV) to 1540 cents per share and headline earnings per share (HEPS) of 113.77 cents, compared with a loss of 243 cents in the prior period. The company noted, "Total Gross Gaming Revenue for the six months was R902.5 million, 5% up from last year. Food and beverage revenue, which is only associated with our Bingo premises, reduced by 15% to R34.2 million as some restaurant areas were outsourced to specialist operators. The gross profit of the gaming operations increased by 2% to R522.8 million, and Goldrush repaid R34 million of its bank debt."
Since the listing of Goldrush, trading volume has significantly increased, with the share now trading approximately R137,000 in value daily. The rising share price suggests accumulation and growing investor interest. While it is still early days, these developments indicate that the share has the potential to become a strong performer over time.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.