$LUCK - Real Luck Group's online gambling platform Luckbox sees esports wagering increase ahead of $1M CS:GO tournament! Real Luck Also Recently Appointed Former Electronic Arts Executive Thomas Rosander as its Chief Customer Officer. Exciting news for this hot stock!
Highlight: Starting February 16, the world’s top 24 CS:GO teams will compete over two weeks for US$1 million, including a top prize of US$400,000 Real Luck Group Ltd. ($LUCK), which operates the esports betting site Luckbox, has said it is seeing an increase in activity ahead of next week’s IEM Katowice international Counter Strike: Global Offensive (CS:GO) esports tournament. Starting February 16, 2021, the world’s top 24 CS:GO teams will compete over two weeks for US$1 million, including a top prize of US$400,000. The tournament is held in Katowice, Poland, but due to the coronavirus (COVID-19), teams will play on-location across Europe and no fans will be in attendance. This is the second year that the virus has deprived fans of watching in person, but the grand final of last year’s tournament drew more than 1 million viewers, according to Reuters. New CCO - Former Electronic Arts (EA) Executive Thomas Rosander Real Luck Group said Rosander's experience as an igaming executive is crucial as the company executes on its customer acquisition strategy. “Having a CCO like Thomas, who has the industry experience and relationships is crucial as Luckbox executes on its customer acquisition strategy,” Real Luck Group CEO Quentin Martin said in a statement. He added: “The Luckbox team comprises a mix of igaming and esports experience and Thomas fits in perfectly with that ethos, as his resume will testify. We have big plans for growth in 2021 and beyond, and Thomas will play a leading role in helping us deliver on our targets.” “This is a key role in growing our business and I am delighted to have someone of Thomas's caliber on board.” Rosander also weighed in on the announcement, stating: “Luckbox is one of the most exciting companies in the igaming space and I am thrilled to be joining the team.” “The rapid growth and huge potential of esports betting is well documented and I am looking forward to working with the team and using my skills and experience to ensure Luckbox is at the forefront of this exciting industry,” he added. Real Luck Group noted that Rosander was issued a total of 850,000 stock options, with each option exercisable to acquire one common share of the company, for three years, at an exercise price of $0.97, based on the closing price of the company's shares on February 4, 2021. The company added that the options will vest over a three-year period with 10% vesting immediately, 10% vesting six months from grant date and 20% vesting every six months thereafter. Real Luck Group, the parent company of esports betting brand Luckbox, is a dedicated esports betting site currently serving customers from about 80 territories globally. Disclaimer: This is not investment advice, please do your own research!
$CLIS (Not to be confused with the infamous turd $CLSI) dropped more news again today! I believe $CLIS and $GOOOD will at some point announce crypto as a form of payment for their online gaming and gambling.
26 Capital Corp (ADERU) is a new at-NAV SPAC with world-leading online gambling expertise - worth a bet
EDIT - one week after i posted this, Britain's most successful hedge fund manager Michael Platt has taken a 6.5% stake tl;dr At-NAV new SPAC with world-leading expertise in online gambling. Worth a bet on potential to be next DKNG on the hype train
+++++++ Hi all - have had a lot of great tips from this sub. Hopefully this pays some of you back. I have been watching and researching this since 23 December when it first filed S1, awaiting the units to be listed - they are available today trading as ADERU Positions - 500 units @ 10.42 to start. Will be monitoring and building position below $15, especially if attention starts to build ahead of units and warrants splitting and shares coming available to Robinhood. (My other SPAC positions are OPEN, IPO-E-F, PSTH, FUSE, PIPP, ACTC, CCIV and DMYD, 100 to 1000 shares each mostly around NAV and numerous warrants and options around these.) As ever, this is not investment advice and do your own research +++++++
26 Capital Acquisition Corp or ADER is a 240m SPAC with usual terms - 10$ units, 1/2 warrants. Seeking a merger in "gaming and gaming technology, branded consumer, lodging and entertainment, and Internet commerce sectors". I think this is highly worth a play on the online gambling hype if you can get in at near NAV, based entirely on the management which is unbeatable in its knowledge of the gambling industry
CEO Jason Ader has held director level positions at Las Vegas Sands Corp. ($42bn one of biggest casino groups in world), IGT (£3.72bn multinational gambling firm specialised in software and slot machines) and Playtech (£1.4bn multinational gambling software firm) Before starting his own fund in 2013 he was regularly ranked Wall Street's top analyst on the gambling and leisure sector His fund, Spring Owl Capital, is a small activist fund focused on gambling and leisure. They are probably most famous for ousting the CEO of Viacom in 2016 and a crusade against Yahoo CEO Marissa Meyer in 2015. Ader knows the gambling - and online gambling - industry inside out. He drove bWin to a £1.1bn takeover by gambling giant GVC (now Entain) in 2016, and has been driving similar change and demands for improvement at board level at Playtech The fund mostly manages money for a select group of wealthy families, which could be a positive sign for the SPAC (although I don't know how much skin in the SPAC the fund has, if any) Here is a video of Ader from November talking about how he's excited about SPACs. He talks about how he has been advising certain States about legalising sports betting and how to maximise value and liquidity by linking up with European companies in the space (Playtech e.g.??). Ader is extremely bullish on US legalising online casino and more sports betting options, accelerated by need for revenue because of pandemic
Rafi Ashkenazi One of the most highly respected names in the online gambling world, including COO and CEO positions at major online gambling firms such as Playtech and Stars Group (a world leader in online poker and casino). At Stars he led the $4.7bn takeover of Sky Betting to create the world's largest publicly listed online betting firm in 2018. Most recently he led the £10bn merger between Flutter (biggest gambling company in world by revenue, market cap £26bn), and Stars Group (Ader also involved). Also has connections into the booming Israel tech space which is interesting
Joseph Kaminkow Special Advisor to the Chief Product Officer at Aristocrat, a leading gambling software provider and games publisher, previously Vice President of Game Design at Zynga Inc. This guy is a former video game / pinball designer who is credited with revolutionising the slots industry after moving into gambling software from video games in 1999. Regarded as a "legend" and "hall of famer" in this niche. At Zynga he designed so-called 'social casino games' which don't involve real-money gambling but are otherwise basically gambling apps (revenue from microtransactions etc). 130 patents on gambling/gaming design inventions
Greg Lyss This is a very interesting but extremely low profile person. He was Bill Ackman a.k.a SPACman's right hand man at Gotham Capital. Ackman respected him so much that when Ackman set up a personal hedge fund to invest the Ackman family's money, he put Lyss in charge of it. To repeat - Bill Ackman thinks this guy is such a good investor and trustworthy that he put him in charge of investing his family's money. Don't know anything more about him, but I like this association with Ackman, which suggests to me some integrity around management of this SPAC, especially as the gambling world can be very murky. The other member of the team is the CFO of SpringOwl with 20+ years' hedge fund experience and not notable (although clearly competent)
Thesis / potential targets Based on the above experience and many public comments by Ader over the past year, I would be very surprised if ADER is not looking to merge with an online gambling technology provider / existing online betting website / social casino app / possibly a supporting technology provider They are activist inventors, and specifically say in the IPO prospectus that they could look for businesses that can benefit from turnaround or are not being run well. I speculate that their deep knowledge of the European / global online gambling industry means they have a target in mind that they think would benefit from their expertise and US liberalisation of gambling legislation.
1) Ader believes the listing of UK-listed gambling companies in US is immediately big in terms of market cap because of the premium on online gambling stocks in US. He has pitched DraftKings to takeover Playtech and called on Playtech to spin off non-core business. This makes me wonder if he would spin off some element of Playtech to list in US to cash in on gambling hype. This might be Finalto.com / TradeTech which is an online financial platform owned by Playtech. Playtech has been trying to sell this for 200 - 240m since August so it fits. This company provides liquidity and trading to brokerages and runs markets.com a trading site. I wouldn't be that excited although apparently the business has been booming during COVID and there could be a decent pop just on fintech hype.
2) This could be a 'picks and shovel' type data/B2B betting software play a la DMYD, or something like e.g. Israel based CRM software Optimove which works with some of biggest online gambling cos and has links to Ashkenazi. This would be interesting but probably not a huge pop
3) Possibly - given Ader's links to Sands - an online gambling tie-up with one of the big Vegas casinos who are desperate to get into the online betting space (see MGM's attempt to buy Entain for $8bn last week). Interestingly, Sands' owner Sheldon Adelson, previously a major opponent of online betting, has just died. Ader predicted a few months ago that Sands would be moving in this direction.
“There’s no stopping online gaming,” Ader said [before Adelson's death]. “(Las Vegas Sands’) initiatives to stop online gaming, at this stage, are largely historic. There hasn’t been a lot of spending recently to do that, especially post-pandemic.” “I think the company will see the value created by DraftKings and FanDuel and Penn (National) Gaming and others. They’re not foolish,” Ader added. source
4) Ader is very confident that Macau will legalise online gambling in next year or two. Sands is big in Macau, the biggest gambling market in the world. A SaaS-type product positioned to capitalise on Asian gambling would be MASSIVE - at present however, China's attitude to gambling and local regulations mean this is unlikely
5) I also wonder if they might try to take legitimate one of the offshore bookmakers with big customer databases and brand recognition but which have been grey-area/illegal under US gaming legislation. For example, Five Dimes recently announced a settlement with the FBI to attempt to transition into newly legalised US markets. This might have the most hype potential
Potential upside This is entirely a play on management experience and the meme factor / hype around online gambling in the US. I think if they pick a good target - which given their experience and connections seems likely - and get the right publicity and attention from retail investors looking for the next DKNG this could easily 3x and maybe 5-6x if on DKNG-type hype levels. There is currently little spotlight on this and it is a good time to get in at NAV
Potential Downside
Ader has been vocal that he thinks US online betting is overvalued and in a bubble - why is he starting his own SPAC in the space then? Does he just want to cash in while the hype is at all-time high or does he have a legitimate business goal?
If he just wants to dump a part of Playtech which he does not like onto retail investors, this is a bad deal.
Other targets could be e.g. hotel industry or other leisure sector which would be zero sexiness to retail. Given Ashkenazi and Kaminkow's background this seems unlikely though
Usual SPAC caveats apply about potential difficulty finding a target, locking up your money for unspecified period of time, and the fact I may have completely misread the potential and my above thesis might be totally wrong
Online Sports Betting Coming to New York! Go DMYD and other Gambling SPACs!
Governor Andrew M. Cuomo today announced legislation to authorize mobile sports wagering as part of the 2021 State of the State. Under Governor Cuomo's proposal, the New York State Gaming Commission will issue a request for proposals to select and license a sports operator or platform to offer mobile sports wagering in New York. This operator or platform must have a partnership with one of the existing licensed commercial casinos. The Commission will also require any entity operating mobile wagering apps include safeguards against abuses and addiction. "At a time when New York faces a historic budget deficit due to the COVID-19 pandemic, the current online sports wagering structure incentivizes a large segment of New York residents to travel out of state to make online sports wagers or continue to patronize black markets," Governor Cuomo said. "New York has the potential to be the largest sports wagering market in the United States, and by legalizing online sports betting we aim to keep millions of dollars in revenue here at home, which will only strengthen our ability to rebuild from the COVID-19 crisis." https://www.governor.ny.gov/news/governor-cuomo-announces-proposal-enable-online-sports-wagering-part-2021-state-state
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![[Business] - Online gambling faces new restrictions | BBC](https://b.thumbs.redditmedia.com/OVW6KXq33I4DX8SRhvj72U0_VegEBrr36t6XyaslDKg.jpg "[Business] - Online gambling faces new restrictions | BBC")
