Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

International Games System / Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/international-games-system-co-ltd" target="_blank" data-smartkarma-citation="entities:3486:1" rel="noopener">International Games System (3293 TT)</a> (IGS) is one of the leading social online gaming companies in Taiwan. IGS's core products include social casino games, casual games, and arcade games.Despite risks including declining sales of Arcade Games and potential regulatory risks associated with social casino online games, we believe many investors will focus on the positives and continue to add to their positions of this undervalued stock. Key catalysts of the company are as follows:<ul>
<li>Tremendous growth in online/mobile social casino &amp; casual games</li>
<li>Strong sales growth in Jan-Apr 2021 </li>
<li>Improving profit margins</li>
<li>High dividend payout</li>
</ul>

International Games System (3293 TT) (IGS) is one of the leading social online gaming companies in Taiwan. IGS's core products include social casino games, casual games, and arcade games.Despite risks including declining sales of Arcade Games and potential regulatory risks associated with social casino online games, we believe many investors will focus on the positives and continue to add to their positions of this undervalued stock. Key catalysts of the company are as follows:
Tremendous growth in online/mobile social casino &amp; casual games
Strong sales growth in Jan-Apr 2021 
Improving profit margins
High dividend payout


International Games System: An Undervalued Online Social Gaming Stock in Taiwan

Japan/Asia Long-Short, LightStream Research

Mio Kato

Japan/Asia Long-Short

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

Playtika Holding Corp / Equity Capital Markets

In our initial note on Playtika we were positive on its steady growth and healthy margins despite some misgivings about the roll-up model which was driving that growth. After examining the proposed valuations for the IPO, however, we are much more comfortable giving this a pass, just like with DoubleDown Interactive which had to postpone its IPO in the middle of last year.

In our initial note on Playtika we were positive on its steady growth and healthy margins despite some misgivings about the roll-up model which was driving that growth. After examining the proposed valuations for the IPO, however, we are much more comfortable giving this a pass, just like with DoubleDown Interactive which had to postpone its IPO in the middle of last year.

Playtika IPO – Doubling Down on DoubleDown’s Failed IPO

Playtika is slightly unusual in that it appears to combine the attractive monetisation ability of mobile gaming, with very steady margins and revenue growth. The company has been growing through acquisitions but post-acquisition improvements in DAU and monetisation have been good and financials show very sound progress.

Playtika is slightly unusual in that it appears to combine the attractive monetisation ability of mobile gaming, with very steady margins and revenue growth. The company has been growing through acquisitions but post-acquisition improvements in DAU and monetisation have been good and financials show very sound progress.

Playtika IPO – A Surprisingly Steady Mobile Game Roll-Up Play

Israel

Playtika Holding Corp. operates as a digital entertainment company. The Company specializes in the development and publication of free to play mobile games. Playtika Holding serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Playtika Holding Corp (PLTK US)

Playtika IPO – Doubling Down on DoubleDown’s Failed IPO

Despite initially being positive on Playtika for its healthy margins and steady growth, pricey valuation multiples have us looking elsewhere for...

Mio Kato

Playtika IPO – A Surprisingly Steady Mobile Game Roll-Up Play

Playtika is slightly unusual in that it appears to combine the attractive monetisation ability of mobile gaming with very steady margins and...

Mio Kato

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

International Games System: An Undervalued Online Social Gaming Stock in Taiwan

International Games System (3293 TT) is high growth, social games provider in Taiwan that we believe is undervalued versus leading global social...

Douglas Kim

Playtika IPO – Doubling Down on DoubleDown’s Failed IPO

Despite initially being positive on Playtika for its healthy margins and steady growth, pricey valuation multiples have us looking elsewhere for...

Mio Kato

Playtika IPO – A Surprisingly Steady Mobile Game Roll-Up Play

Playtika is slightly unusual in that it appears to combine the attractive monetisation ability of mobile gaming with very steady margins and...

Mio Kato