Seeking Alpha

Majesco +40%; SA author talks up online gambling potential

  • Though SA author John Deamer was once quite bearish on Majesco (COOL) amid plunging sales and solvency concerns, he now thinks the company's real-money gambling efforts spell a favorable risk/reward.
  • Deamer notes CEO Jesse Sutton emphasized Majesco's real-money partnerships during earnings CCs, and expects revenue to grow as gambling giant Intralot (IRLTF) expands into more states. Majesco's GMS Pariplay JV was chosen by Intralot to provide gambling titles in several states.
  • He adds Pariplay also has partnerships with Atari (previous), the Isle of Man's Trada Casino, and online casino WinTingo, and that Majesco's Midnight City indie publishing label has multiple games on tap.
  • At the same time, Deamer cautions Majesco (current market cap of $16M) "has no meaningful games being released until October" via Midnight City, and that liquidity and Nasdaq de-listing concerns remain.
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