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What is Soju Bomb?
Many top gaming stocks have underperformed relative to the broader market in recent years, and most of the M&A activity has been facilitated by private equity and other institutions that can more readily capitalise on depressed valuations. There had been hope that rates would start to fall and help alleviate those pressures.
“Publicly traded valuations are a reflection of the current interest rate environment,” Chad Beynon, lead gaming analyst for Macquarie, told iGB. “Whether it’s a long-term financial model on a growth company, you’re going to discount that back at a higher rate, or if it’s just a standard four-wall business, the cash flows in a higher interest rate environment are worth less.”
According to data from Yahoo Finance, the resort and casino sector is -41% over the last five years, and the overall gambling sector, which includes major sportsbooks and online operators, is +7%; the benchmark S&P 500 index, by comparison, is +71% during that span.
About Soju Bomb
On the sidelines of the NCLGS conference, a state representative informed iGB of a spate of menacing threats directed at a football kicker from his state. The kicker, according to the legislator, endured a barrage of threats after missing a field goal in a Football Championship Subdivision game, a lower-tier division in college football.
Days later, NBA Commissioner Adam Silver appeared in Las Vegas for his annual NBA Summer League press conference. Silver took the stage in the wake of a host of betting scandals that have ensnared Pro Basketball Hall of Fame member Chauncey Billups, former Charlotte Hornets guard Terry Rozier and several other ex-NBA players.
There, Silver was asked by iGB if the NBA has expressed interest in forming a coalition with the other leagues to develop a set of best practises on insider trading and other germane betting-related concerns.
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Although three-quarters of respondents rated their VIP data as good or very good, 71% reported data spread across multiple systems. Half admitted sometimes making decisions with incomplete or outdated information.
“Silent churn” was prevalent, with nearly half (46%) stating that VIP players often or very often became inactive without prior warning. Around 48% had no indicators of players’ behavioural signals or health. Co-author Viktoriia Grygorenko, CEO at The Playa, called this finding the “clearest commercial case in the report”.
“Every other finding – portfolio overload, fragmented data, reactive workflow, no behavioural signal – resolves here, in revenue that walks out without notice, without warning and without anyone getting the chance to intervene.”
