I took the opposite route from you; I got interested in this stock thanks to the Japanese studios (especially Atlus.)
I learned a lot from reading your perspective on the European studios, and I agree with everything you wrote about the power of the IPs and the current undervaluation.
By the way, this article aged really well—you nailed the sale of the Phoenix Resort.
I want to like the stock, but I really struggle with the GAN purchase. But as you wrote: they don't seem to be afraid to shut something down instead of throwing good money after bad.
I completely understand the reticence and I don't like the purchase either. It seems a pretty strange way to reinforce their entry in the US slot machine market, and any price paid for GAN as a company is too much.
But also... it doesn't change much. Their losses are a blip in SegaSammy's PNL, and the investment just a small part of their cash reserves.
I took the opposite route from you; I got interested in this stock thanks to the Japanese studios (especially Atlus.)
I learned a lot from reading your perspective on the European studios, and I agree with everything you wrote about the power of the IPs and the current undervaluation.
By the way, this article aged really well—you nailed the sale of the Phoenix Resort.
Thanks for the detailed write-up!
I want to like the stock, but I really struggle with the GAN purchase. But as you wrote: they don't seem to be afraid to shut something down instead of throwing good money after bad.
I completely understand the reticence and I don't like the purchase either. It seems a pretty strange way to reinforce their entry in the US slot machine market, and any price paid for GAN as a company is too much.
But also... it doesn't change much. Their losses are a blip in SegaSammy's PNL, and the investment just a small part of their cash reserves.