Tuesday, December 08, 2020 3:32:11 PM
Draft kings has a 20 billion dollar valuation with a slightly elevated share structure and Caesar’s CZR has a 15 billion dollar valuation with a fairly similar share structure. I haven’t taken the time to look up revenues and multiples yet, but clearly this sets up well from a comp standpoint for GNOG which has the potential to be one of the market leaders in online gaming. Neither of those comps have reported recent profitability but I believe are projected to do so in 2021. Again, this should bode well for GNOG as they have real revenues and a path to immediate profitability. Correct me if I’m wrong here as I haven’t taken the time to break down all numbers.
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