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PALM BEACH, Fla., Nov. 18, 2021 /PRNewswire/ — FinancialNewsMedia.com News Commentary – The eSports gaming industry is being seen by many jurisdictions in the U.S. as another… and a new, revenue for their state’s coffers. A recent article in Gambling News discussed the new incentive that has just recently came to pass in the state of New Jersey. It said that apparently, Gov. Phil Murphy is feeling cautiously optimistic about esports betting in the Garden State. "At least this is what we make from the governor’s decision to sign a bill into law that allows betting operators to start accepting wagers on competitive video gaming." The bill was signed this November and it effectively paves the way for esports betting in one of the youngest and most populous states in the country. The bill was originally pushed by lawmakers who saw the value in advocating for more liberal esports gambling rules. During the pandemic, many sportsbooks in New Jersey turned to various esports competitions in a bid to make up for the dearth of regular sports events which were suspended due to the pandemic. The article continued: "Yet, esports’ own merits were also factored in the language of the bill. A sponsor of the bill, argued that esports has achieved significant growth over the past years and that competitive video gaming presents an opportunity for betting businesses to generate additional revenue. The bill was originally introduced in March and it sent ripples across gaming communities in the United States… (it) faced very little opposition along the way and received final approval by both legislative bodies in July, leaving it to Gov. Murphy to sign off the draft and pass it into law… This has now happened with esports developing rapidly. Most sportsbooks were oblivious of the benefits to their bottom line that esports can generate." Active companies in the markets today include: Esports Technologies (NASDAQ: EBET), PLAYSTUDIOS (NASDAQ: MYPS), Rush Street Interactive, Inc. (NYSE: RSI), Roblox Corporation (NYSE: RBLX), MGM Resorts International (NYSE: MGM).
Gambling News added: "While the bulk of the action is still focused on three main gaming titles, name League of Legends, Dota 2, and Counter-Strike: Global Offensive, a growing number of people are turning towards esports wagering. Even some mainstream sports fans are interested in placing bets on the FIFA and NBA2K simulators developed by Electronic Arts. New Jersey isn’t the only state to have taken steps towards the legalization of esports betting on a state basis." The article said that other states are ready to follow suit: "Connecticut featured esports betting language when introducing interactive sports gambling and Nevada has been actively probing the matter. While the esports ecosystem is fairly new from a betting point of view, there seems to be a growing level of interest. Suppliers such as Betsy Games and Esports Technologies have been evolving their offer to feature more esports-ready products for business clients who may soon be interested to have a compliance-ready project to fire off."
Esports Technologies (NASDAQ: EBET) – BREAKING NEWS – Esports Technologies Launches Eaffiliates.com – Esports Technologies, a leading global provider of award-winning advanced esports wagering products and technologies, announced today that the launch of its affiliate platform Eaffiliates.com. Through this program, affiliates could receive a commission based on confirmed deposits and revenue generated. This multi-faceted esports solution combines secure and reliable wagering with industry-leading odds, effective promotions and targeted cross-selling.
Key benefits of Eaffiliates.com include:
Michael Holm, Affiliate Director, Esports Technologies, said, "Eaffiliates.com will harness the robust intellectual property of Esports Technologies to offer a best-in-class wagering experience that consistently optimizes conversion and retention, generating maximum revenue for our affiliate partners. We are excited to welcome affiliate partners from all over the world, and we look forward to working with them in a way that’s mutually beneficial." CONTINUED… READ THIS AND MORE NEWS FOR EBET BY VISITING: https://esportstechnologies.com/news/
In other technology recent news of interest:
PLAYSTUDIOS (NASDAQ: MYPS), an award-winning developer of free-to-play mobile and social games, recently continued to diversify its product lineup with the debut of its first-ever mobile board gaming experience, New York-New York Game Night. Developed exclusively for the PLAYSTUDIOS myVEGAS Slots app, New York-New York Game Night places players onto a virtual board game map of New York—inspired by the glitz and glamor of the Great Gatsby—where they can roll their way to loyalty points and real-world rewards.
"When we set out to expand our portfolio of myVEGAS Slots‘ in-app features, our team of playMAKERS embraced their nostalgia for classic board games," says PLAYSTUDIOS Founder, Chairman, and Chief Executive Officer Andrew Pascal. "New York-New York Game Night adds a fun, new dimension to the app and perfectly complements the core gaming experience and virtual Strip that players navigate."
Rush Street Interactive, Inc. (NYSE: RSI), a leading online sports betting and casino company in the United States, recently announced that it was selected by the New York State Gaming Commission ("NYSGC") to operate online and mobile sports betting in New York. RSI was awarded one of nine licenses permitting gaming operators to offer online and mobile sports betting in New York upon its statewide launch, which is expected to occur during the first quarter of 2022.
Richard Schwartz, Chief Executive Officer of RSI, said, "Today is a momentous occasion for RSI, sports fans across the Empire State, and for the gaming industry at large. We are delighted to have been selected by the NYSGC in a very thorough bidding process and extend our congratulations to our fellow consortium members.
Roblox Corporation (NYSE: RBLX), a global platform bringing millions of people together through shared experiences, recently released its third quarter 2021 financial results and separately posted a letter to shareholders and supplemental materials on the Roblox investor relations website at ir.roblox.com. Third Quarter 2021 Financial Highlights Were: Revenue increased 102% over Q3 2020 to $509.3 million; Net loss attributable to common stockholders for Q3 2021 was $74.0 million; Net cash provided by operating activities of $181.2 million; Free cash flow increased 7% over Q3 2020 to $170.6 million; Bookings increased 28% over Q3 2020 to $637.8 million; Average Daily Active Users (DAUs) were 47.3 million, an increase of 31% year over year; Hours Engaged were 11.2 billion, an increase of 28% year over year; and Average Bookings per DAU (ABPDAU) was $13.49
For October 2021 key metric estimates, please refer to our Q3 2021 Shareholder Letter at ir.roblox.com. "Engagement is our north star. We’re very pleased that during the third quarter, people of all ages from across the globe chose to spend over 11 billion hours on Roblox," said David Baszucki, Chief Executive Officer of Roblox. "We are happy to report that the developer community earned over $130 million in the quarter and is on pace to earn well over $500 million this year. As we finish 2021 and head into 2022, we will continue to invest in innovative technology to enable our developer community to do what they do best – build and create."
MGM Resorts International (NYSE: MGM), BetMGM, a leading sports betting and iGaming operator, and Gila River Hotels & Casinos, recently announced the opening of The BetMGM Sportsbook at Vee Quiva. This marks the first opening of a BetMGM retail sportsbook in Arizona and Phoenix’s first in-casino sportsbook.
"It’s great to see our partnership with Gila River come to life in Arizona," said BetMGM CEO Adam Greenblatt. "The BetMGM Sportsbook at Vee Quiva will be a true destination for sports fans and we look forward to opening additional venues at Wild Horse Pass and Lone Butte. These retail sportsbooks complement our existing mobile platform in Arizona and further cement our goal of providing BetMGM customers with a world-class experience."
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. Except as set forth below, FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated two thousand five hundred and ninety-five dollars by Esports Technologies Inc. for news coverage of the current press releases issued by Esports Technologies Inc. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
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Stellaris 2 Release Date: PS4, PS5, Xbox, PC, Switch – Game Revolution
Grand strategy games are in relatively short supply, which is why Stellaris is such an important title. Even better, Paradox’s 4X game is one of very few available on modern home consoles. Will the same be true of Stellaris 2? Is a sequel actually in development, and will it release for Switch in addition to Xbox and PlayStation?
Paradox Development Studio has yet to confirm Stellaris 2, so there is no release date set. In fact, there’s no confirmation that Stellaris will get a numbered sequel at all. Assuming it does happen, we can expect to learn more about a launch date after the game is announced.
For now, it seems the team at Paradox is still focused on the original game. After all, it took almost three years for Stellaris to move from PC to home consoles, hitting PS4 and Xbox One early in 2019. The Series X/S version only arrived in March of last year.
That time hasn’t been spent solely on porting, either. The team has released several DLC packs and expansions, including the Nemesis expansion which released last year. Development is ongoing, and fans can check out the latest details over on the official Stellaris forums.
Given that Stellaris eventually landed on consoles, a PlayStation 4, PS5, or Xbox Series X/S release would make sense. Of course, it could be a matter of timing, since it took so to release console ports before.
Admittedly, a Nintendo Switch release for Stellaris 2 is very unlikely. Stellaris isn’t on the Switch, and it’s doubtful that Nintendo’s handheld could run it properly. And, again, Stellaris 2 hasn’t been confirmed, so who knows if we’ll even be playing the Switch by the time it might release.
Stellaris 2 doesn’t have a release date or any known platforms, as the game itself hasn’t been announced. Until we hear otherwise, the crew at Paradox Development Studio will continue its ongoing work on the Stellaris that does exist, which is available on PC, PS4, Xbox One, and the Series X/S.
Nvidia: Quantitatively Speaking Still Overvalued – Seeking Alpha
Justin Sullivan/Getty Images News
This is my first article about NVIDIA (NASDAQ:NVDA). I readily admit that I do not fully understand the specifics of the company and what investors see hidden in it. Therefore, at this stage, I offer a comprehensive, quantitative analysis of the company’s fundamental value.
The easiest way to get a first idea of the adequacy of the company’s current price is to look at the dynamics of its capitalization in the context of the dynamics of key results. As a rule, this allows you to identify persistent regressions.
Based on the long-term relationship between the revenue TTM absolute size and the company’s capitalization, NVIDIA’s current price is somewhat overvalued:
The same is true for the relationship based on the EPS TTM absolute size:
On the other side, over the past seven years, NVIDIA has shown a direct relationship between the rate of revenue growth and its P/S multiple. It should be noted that there is no similar qualitative relationship between EPS and earnings growth rate. In my opinion, this means that the rate of revenue growth is now a key driver of capitalization.
In the context of the last model, the company is now also overvalued. But more importantly, the expectation of a decrease in the revenue growth rate indicates a potential decrease in the P/S multiple in the coming quarters.
So, having determined that revenue is a key driver of company capitalization, we can build a general model that determines the company’s balanced price:
Under this approach, NVIDIA’s modeled capitalization is lower than the actual one within about two standard deviations. And the nearest forecast also does not justify the current price of the company.
Using elements of machine learning, I analyzed many options for comparative assessment of NVIDIA through multiples. As a result, I found only three models that allow a more or less reasonable judgment of the relative value of the company. To my surprise, all of these models are based on growth-adjusted multiples. This suggests that growth is a determining factor in the level of NVIDIA multiples.
A comparative valuation of NVIDIA through the forward P/E (next FY) to growth multiple indicates that the company is undervalued by 18%. But the quality of this model is not high enough:
Judging by the proposed multiples, I cannot make an unambiguous conclusion. The only thing that can be stated is that the company’s growth rate is a determining factor in the level of NVIDIA multiples. The slowdown should significantly reduce the level of its multiples.
When predicting NVIDIA’s revenue for the next ten years, I proceeded from the average expectations of analysts. According to consensus forecasts, in the next decade, the company’s annual revenue will exceed $160 billion.
NVIDIA’s operating margin has reached 35% in the last quarter. This is close to the historical maximum of the company. But the model is based on the assumption that the operating margin over the next 10 years will gradually decline to 30% in the terminal year. This is a standard approach based on the likely increase in competition.
Here is the calculation of the Weighted Average Cost of Capital:
Here’s the model itself:
(in high resolution)
The DCF-based target price of NVIDIA’s shares is $233, offering 12% downside. At the same time, in my opinion, I considered a relatively positive scenario for the future development of the company.
Looking at NVIDIA in the context of free cash flow, I want to draw your attention to one important indicator – the free cash flow yield. It shows how much the company generates free cash flow per dollar of its market price.
Free Cash Flow Yield = Free Cash Flow TTM / Market Capitalization
I compared this figure of NVIDIA with other technology companies and closest competitors. Alas, the company’s figure is the lowest:
The free cash flow that NVIDIA generates for every dollar of its capitalization is about 1%. This is lower than the US 10-year treasury yield. I don’t even compare with inflation. In general, this is a wake-up call for an investor.
From October to November last year, NVIDIA’s share price rose nearly 80%. During this period, two gaps were recorded. These gaps have defined strong support levels. And the first of these levels seems to have already been broken. In my opinion, before the level of the second support is reached, it is premature to talk about the completion of the correction.
I do not share the optimism of those who believe that NVIDIA is an extremely attractive investment at its current price. I won’t jump to conclusions about the company’s long-term potential just yet, but it’s highly likely that the decline will continue in the short term.
This article was written by
Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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