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Alias Born | 02/20/2006 |
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Thursday, February 09, 2023 7:56:06 AM
The US sports gambling market is enjoying unprecedented growth and popularity. Sports gambling promotion is ubiquitous and the American Gaming Association predicts 50 million Americans will bet $16B on the Super Bowl.
At present, 36 states have approved sports gambling and 3 of the biggest states, CA, FL, and TX, have not yet come online.
The WNRS model leverages its leaders’ history in offering detailed sports betting advice, analysis, etc. for a fee. This model is combined with lucrative agreements with major sports books that initially pay referral fees for customers and could evolve into revenue sharing.
A flurry of M&A of WNRS-similar firms has occurred in recent years and WNRS could emerge as a target. With licenses in 9 states, WNRS is poised to build on its database of clients and subscribers which are invaluable assets to prospective M&A acquirers.
We currently project revenue of $1.2M in 2023, growing to $4M in 2024 and $12-15M in 2025, with operating profit beginning in 2024.
Our twelve-month $0.024 price target reflects 2x our 2024 revenue forecast and is a 26% discount to industry leader DraftKings.
https://www.goldmanresearch.com/202302091357/Opportunity-Research/top-upside-stock-play-in-sports-betting-industry.html
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