Ann: Bill for Fixed Odds wagering introduced to NJ Legislature, page-84

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Canaccord Genuity rates ((BET)) as Buy (1) -

Canaccord Genuity observes the passing of a Bill in the US state of New Jersey to define and authorise fixed odds race wagering products provides a clear regulatory pathway for Betmakers to conduct activities under its exclusive 10-year agreement with the NJ Horsemen and the operator of Monmouth Park racetrack.

The Bill will be reviewed and voted on in the General Assembly. While the regulatory process does not entirely remove the uncertainty regarding the timing of New Jersey fixed odds racing going live, the broker believes it gives the relevant stakeholders the confidence that they can press forward with arrangements in anticipation of a fixed-odds race wagering market being established in the state.

Canaccord Genuity retains its Buy recommendation with a target price of $0.62.

This report was published on November 9, 2020.

Target price is $0.62 Current Price is $0.48 Difference: $0.14
If BET meets the Canaccord Genuity target it will return approximately 29% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY20:

Canaccord Genuity forecasts a full year FY20 dividend of 0.00 cents and EPS of 0.00 cents.

Forecast for FY21:

Canaccord Genuity forecasts a full year FY21 dividend of 0.00 cents and EPS of 1.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 48.00.