Redeye initiates coverage of Gaming Innovation Group
Redeye initiates coverage of Gaming Innovation Group (GiG). GiG is a technology company within the online gambling industry. While GiG has struggled lately after its exceptional growth up to 2018, we view its strategic refocusing on execution and earnings positively - and see the share’s plunge (down over 80% from its all-time high) as overdone. The company’s expansion from a poker room sole affiliate to a 700 employee company pushing into both B2C and B2B areas was too rapid, but its new start towards a turnaround is encouraging.
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