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Who We Are We are a leading distributed gaming operator in the United States ( U.S. ), as well as a developer of brick-and-mortar casinos that serve local gaming markets and horse racing venues. We offer turnkey, full-service gaming solutions to bars, restaurants, convenience stores, truck stops, and fraternal and veteran establishments across the country as well as casinos and horse racing ven…
Operating margin is thin at 8.10%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 8.1%, steady but not accelerating.
Net debt of $320M represents 5.2x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$1.36B
▲ +8.1% YoY
Net Income (TTM)
$52M
▲ +46.0% YoY
Op. Margin
8.02%
▲ +0.7pp YoY
ROIC
10.17%
▲ +1.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$64M
▲ +13.4% YoY
Op. Cash Flow (TTM)
$149M
▲ +24.5% YoY
Net Debt
$306M
Cash & Equiv.
$274M
5Y CAGR: +33.3%
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