Reported Earnings • Nov 30
Third quarter 2022 earnings released: EPS: US$0.017 (vs US$0.065 in 3Q 2021) Third quarter 2022 results: EPS: US$0.017 (down from US$0.065 in 3Q 2021). Revenue: US$13.0m (up 8.1% from 3Q 2021). Net income: US$2.17m (down 73% from 3Q 2021). Profit margin: 17% (down from 67% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Larry Hoff was the last independent director to join the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 공시 • Sep 09
Maverick Gaming LLC entered into an arrangement agreement to acquire 94.3% stake in Evergreen Gaming Corporation (TSXV:TNA) for $64.2 million. Maverick Gaming LLC entered into an arrangement agreement to acquire 94.3% stake in Evergreen Gaming Corporation (TSXV:TNA) for $64.2 million on September 8, 2022. In a related transaction, Maverick Gaming LLC entered into an initial purchase agreement to acquire 5.7% stake in Evergreen Gaming Corporation from Michel's Development, LLC for $3.9 million. Under the transactions, Maverick would acquire 100% of the outstanding common shares of Evergreen for cash consideration of $0.55 per Evergreen share. Both the transactions provides total consideration, subject to potential adjustment, of approximately $68 million. Maverick Gaming will acquire 7 million shares of Evergreen under the initial purchase agreement and remaining shares will be acquired under the arrangement agreement. Post completion of both transactions, which is anticipated to occur on the same day, Maverick Gaming will hold 100% stake in Evergreen. The Arrangement Agreement provides that if Evergreen's Closing Cash, is less than $26 million, then the total consideration payable to the Evergreen shareholders under the Transaction will be reduced proportionately, provided however that if Closing Cash is less than $20.6 million, there is no further reduction in the total purchase price beyond $5.4 million. If the total purchase price is reduced then the price payable for each share is reduced from $0.55. If the sale contemplated by the Initial Purchase Agreement is completed and the Arrangement Agreement should subsequently fail to close for any reason, the sale under the Initial Purchase Agreement will be rescinded. Evergreen is entitled to terminate the Arrangement Agreement in order to enter into a definitive agreement with respect to a superior proposal, in which case Maverick is entitled to a termination fee of $2.5 million. Evergreen is entitled to a reverse break fee of $2.5 million in certain circumstances upon the termination of the Arrangement Agreement.
The Transaction is subject to approval by the Evergreen shareholders, court approval and other closing conditions, including Closing Cash being not less than $28 million, receipt of required Washington State gaming approvals and the TSX Venture Exchange accepting the Arrangement Agreement for filing. The Transaction was unanimously approved at a meeting of the Evergreen Board of Directors and the Evergreen Board of Directors unanimously recommends that Evergreen shareholders vote in favour of the Transaction. The consideration is not subject to a financing condition. Shareholders who collectively hold or control approximately 78% of Evergreen’s outstanding shares have entered into support agreements pursuant to which they have agreed to vote their shares in favour of the Transaction. The Transaction is expected to close by the end of 2022. The consideration secures immediate value for Evergreen shareholders. Evans & Evans, Inc. is acting as financial advisor to Evergreen. Evans & Evans, Inc. acted as fairness opinion provider to Evergreen’s Board of Directors. Reported Earnings • Aug 30
Second quarter 2022 earnings released: EPS: US$0.078 (vs US$0.019 in 2Q 2021) Second quarter 2022 results: EPS: US$0.078 (up from US$0.019 in 2Q 2021). Revenue: US$14.2m (up 24% from 2Q 2021). Net income: US$9.65m (up 313% from 2Q 2021). Profit margin: 68% (up from 20% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Board Change • Jun 08
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. 1 independent director (4 non-independent directors). Independent Director Larry Hoff was the last independent director to join the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • May 07
Full year 2021 earnings released: EPS: US$0.054 (vs US$0.022 loss in FY 2020) Full year 2021 results: EPS: US$0.054 (up from US$0.022 loss in FY 2020). Revenue: US$45.4m (up 108% from FY 2020). Net income: US$6.65m (up US$9.41m from FY 2020). Profit margin: 15% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Board Change • May 05
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Laurence Smith was the last independent director to join the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Dec 01
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: US$0.065 (up from US$0.022 in 3Q 2020). Revenue: US$12.0m (up 97% from 3Q 2020). Net income: US$8.11m (up 199% from 3Q 2020). Profit margin: 67% (up from 44% in 3Q 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Board Change • Aug 30
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Larry Hoff was the last independent director to join the board, commencing their role in 2010. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 30
Second quarter 2021 earnings released: EPS US$0.019 (vs US$0.01 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$11.5m (up US$10.6m from 2Q 2020). Net income: US$2.34m (up US$3.62m from 2Q 2020). Profit margin: 20% (up from net loss in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Reported Earnings • May 27
First quarter 2021 earnings released: EPS US$0.002 (vs US$0.003 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$8.80m (up 23% from 1Q 2020). Net income: US$198.2k (up US$618.1k from 1Q 2020). Profit margin: 2.3% (up from net loss in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Reported Earnings • May 03
Full year 2020 earnings released: US$0.022 loss per share (vs US$0.033 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: US$21.8m (down 44% from FY 2019). Net loss: US$2.75m (down 167% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 17
New 90-day high: CA$0.37 The company is up 42% from its price of CA$0.26 on 18 November 2020. The Canadian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is flat over the same period. Is New 90 Day High Low • Jan 09
New 90-day high: CA$0.34 The company is up 48% from its price of CA$0.23 on 09 October 2020. The Canadian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 11% over the same period. Reported Earnings • Dec 03
Third quarter 2020 earnings released: EPS US$0.022 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: US$6.10m (down 41% from 3Q 2019). Net income: US$2.71m (up 98% from 3Q 2019). Profit margin: 44% (up from 13% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Reported Earnings • Dec 02
Third quarter 2020 earnings released: EPS US$0.022 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: US$6.10m (down 41% from 3Q 2019). Net income: US$2.71m (up 98% from 3Q 2019). Profit margin: 44% (up from 13% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings.