TSXV:NYX.DB - Post by User
Post by
petrofacon Aug 23, 2017 8:41am
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Post# 26611188
Canaccord writes up again......
Canaccord writes up again......NYX Gaming Group* (NYX : TSX-V : $1.25), Net Change: -0.15, % Change: -10.71%, Volume: 911,610 FEELING LUCKY? NOT ANYMORE. Shares of NYX Gaming rolled snake eyes on Tuesday after reporting Q2 results. Canaccord Genuity Gaming Technology Analyst Kevin Wright says the results were in line with Street expectations on revenue of $61.0M (Street $60.2M) and adjusted EBITDA of $17.5 M (Street $17.6M), which is a 28.7% margin (up +0.2% QoQ). Wright says the core business showed another quarter of tremendous growth as revenue was up +50.6% ex acquisitions. Management continues to make progress with the integration of OpenBet, and the pipeline of new customers in the content business remains strong, pointing to continued growth prospects. Wright believes the company's cash and equivalents is solid with $35.8M on the balance sheet and the recent refinance saves the company $5.0M in annual interest expense. Despite the stock performance, Wright says overall it looks like a good quarter for the company and while he would have liked to see more margin expansion Wright thinks even modest forward progress is a positive signal given the depressed valuation at which NYX Gaming trades to peers.