Valuation ThoughtsIt's worth noting that when the Jackpotjoy acquisition was carried out shares were issued at $15 and management bought significant additional stock at this level. Given that Jackpotjoy has performed significantly better than thought since this deal it would seem only logical that management would expect a higher price than $15 plus a cost of capital for the intervening time. In 2015 they repurchased approximately 2.5m shares at an average price $12.25. This might imply at least $18 as a lowest starting point for any transaction that covers the whole company. There are also 9 analysts who follow the stock on Bloomberg and they have a range of target prices of C$21-28 in their models with some built on DCF's and others peer group multiples. GLTA