Daniel Lewis' Sohn Canada Presentation: Long Amaya ~ market folly

Thursday, October 1, 2015

Daniel Lewis' Sohn Canada Presentation: Long Amaya

We're posting up notes from the Sohn Canada Investment Conference 2015 (Capitalize For Kids.)  Next up is Daniel Lewis from Orange Capital who pitched a long of Amaya.

Daniel Lewis' Capitalize For Kids Presentation

-    Global event-driven, top 10 positions make up 60% of fund
-    Long Amaya 
-    40% EBITDA margin
-    Reverse merger
-    8.4Bn EV
-    70% global market share of poker market
-    Most revenue is regulated
-    High barriers to entry
-    Different possible verticals such as casino or sports betting online
-    C$1Bn EBITDA in FY2018
-    $575MM in 2014, almost double in 4 years
-    Catalyst: US regulation approval, deleveraging through FCF
-    Risks: AMF investigation, Russia, currency, and leverage

Be sure to check out the rest of the presentations from the Capitalize For Kids Conference.

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