First GNOG(LCA) opinion / ideaNASDAQ:GNOG NASDAQ:GNOGW
Happy new year everyone!
lets look at GNOG.
@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@
Q3 GNOG REVENUE:
Gross Gaming Revenues of $28.9 million, compared to $14.9 million during the same period in 2019, an increase of 93%,
Net Revenue of $25.9 million compared to $13.5 million during the same period in 2019, an increase of 92%, and
Operating Income of $8.2 million versus $4.2 in the third quarter of 2019, an increase of 92%.
@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@
"Thomas Winter, President of GNOG added, "Our third quarter confirmed and amplified our momentum in New Jersey, with record revenues supported by all-time-high player activity, sustained marketing investments and 64 new casino games, 20 of which we launched on an exclusive basis. Based on our October revenues, we believe that we could generate over $100 million of Gross Gaming Revenue in New Jersey this year."
The Company also reported that it is working towards a launch of its mobile sports betting and casino operations in Michigan, possibly by the end of the year, regulatory approvals permitting, and its licensing process is ongoing in Pennsylvania. GNOG is actively pursuing market access opportunities to further expand its US operations across multiple states, and believes that the accelerated growth of online gaming revenues in New Jersey and Pennsylvania will encourage more states to consider online casino legislation in 2021 and 2022."
www.prnewswire.com
@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@
I hold GNOG shares and belive at that stock, this only my opinion and cant wait for next REVENUE
LCA
LCA merger vote delay DIP BUYLCA under 22 is good buy for the merger, looking at 25 by January
Support levels: 20.66, 19.40
My plan: 22.5 C, 25C for 1/15
LCA SPAC merger playOODA Process
Observe
+ Market is bullish after a few days of pull back.
+ Stimulus talk back on the table with EOY deadline
+ SPAC has been hot
+ SPACs pulled back in recent days
+ Online gambling is going to grow and there are a few big players around it: $DKNG $PENN $GAN, etc.
- some doubts about the merger not happening
- Founder has other capital risks in restaurants that are under COVID pressure
Orient
Short term Bullish
Decide
add shares as close to $20 or lower.
Hold through merger vote.
if gains > 100%, Sell 50% of shares then let it run "on the house"
if gains < 100% by EOY, sell 25% and sell the rest at first sight of weakness in this name or the market pull back.
Act
Setting limit buys for tomorrow
LCA channel (bottoming out now)Bottom of channel right now (tight stop loss/good risk to reward ratio)
Target 18-21
not financial advice
