Alert: New purchase in the Investor Europe portfolio
|10/28/2020 | 08:52am|
Finally, CEWE will have been a "false positive" in the face of the coronavirus epidemic. The German company is specialized in remote services for photos, from prints to albums and special treatments. But the increasing scarcity of social events, family celebrations and congresses ultimately penalized the business. We are therefore leaving the position at a loss, to integrate a more promising company, Betsson.
Betsson is one of the European leaders in the industry of "iGaming", in other words, online games. Poker, casino games, sports betting and other scratch card games, the Swedish group operates various websites to promote its multiple brands and gaming licenses. Betsson's revenues come mainly from the Scandinavian countries and Western Europe, where the company achieves 40% and 30% of its turnover respectively. It should be noted that the group is tending to expand internationally through an ambitious external growth strategy.
The company has solid fundamentals, driven by the increased demand for digital entertainment due to the pandemic. With strong revenue growth and comfortable margins for under-controlled leverage, the group has no shortage of arguments to integrate our selection. Momentum is all the more optimal as Europe is preparing to further tighten its restrictions, a context that will benefit only a handful of activities, such as... online gaming.