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Dalata Hotel Group

Free cashflow opportunity from Dublin RevPAR concerns

Market data for 2019 show that Dublin RevPAR declined 3.6% year-on-year (yoy) due to softer demand for rooms and increased supply. Investors have overreacted in assuming EPS...

Flutter Entertainment

Australian competition approval obtained

The receipt of competition approval in Australia is an important milestone with respect to Flutter Entertainment’s (Flutter) acquisition of The Stars Group (TSG). Alongside the UK,...

GAN

New CFO brings valuable experience

The appointment of Karen Flores as GAN’s new Chief Financial Officer (CFO) comes at an important time for the group. Not only is it currently recording significant growth as the US...

Gaming

Key Gaming take-aways from New York conference

Flutter Entertainment (Flutter) and GVC Holdings (GVC) presented at the Davy 18th Annual Equities Conference in New York on Tuesday (January 7th). As expected, the domestic audience...

Year-end Document

2020: Irish economy stocks primed for performance

The factors that impeded the performance of stocks exposed to the fast-growing Irish economy in 2019 are now largely factored into forecasts. With valuations remaining attractive in...

GAN

Reinstated forecasts reflect strong year-to-date progress

Following a period of being restricted on the stock, we reinstate our GAN forecasts in this report. Our expectations are now materially higher than earlier this year (2020F revenue...

GVC Holdings

Media partnership improves GVC positioning in the US

MGM/GVC’s partnership with Yahoo Sports addresses a key question regarding how the former will look to build its US customer base. It now has its own ‘media deal’ that will provide...

Dalata Hotel Group

Focus on the cash

Investor attention over the past year has focused on slowing RevPAR growth. However, this overlooks the continued growth in free cashflow. Dalata now has one of the highest...

Flutter Entertainment

Positioning for growth in a changing gaming sector

Flutter Entertainment’s (Flutter) acquisition of The Stars Group (TSG) reflects the now much-changed opportunity and risk set for the global gaming sector. It should materially improve...

Irish economy

Brexit extension should benefit Irish government bonds and equities

The strong performance of Ireland’s economy and Irish asset prices (banks, homebuilders, government bonds) have diverged in 2019, reflecting Brexit fears. This provides an opportunity...