TSXV:IGAM

Stock Analysis Report

Executive Summary

Integrity Gaming Corp. operates slot routes in the United States.

Snowflake

Fundamentals

Mediocre balance sheet with weak fundamentals.

Risks

  • Integrity Gaming has significant price volatility in the past 3 months.
  • Integrity Gaming is not covered by any analysts.

Share Price & News

How has Integrity Gaming's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0%

IGAM

-1.9%

CA Hospitality

0.9%

CA Market


1 Year Return

62.5%

IGAM

-18.9%

CA Hospitality

-0.2%

CA Market

IGAM outperformed the Hospitality industry which returned -12.3% over the past year.

IGAM outperformed the Market in Canada which returned 1.3% over the past year.


Share holder returns

IGAMIndustryMarket
7 Day0%-1.9%0.9%
30 Day0%6.8%5.7%
90 Day42.2%-2.6%1.8%
1 Year62.5%62.5%-18.3%-18.9%3.3%-0.2%
3 Year13.8%13.8%20.9%17.7%19.2%8.5%
5 Yearn/a-0.8%-3.7%23.3%5.8%

Price Volatility Vs. Market

How volatile is Integrity Gaming's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Integrity Gaming undervalued based on future cash flows and its price relative to the stock market?


In this section, we usually try to help investors determine whether Integrity Gaming is trading at an attractive price based on the cash flow it is expected to produce in the future. But as Integrity Gaming has not provided consistent financial data, and the stock also has no analyst forecast or coverage, its intrinsic value cannot be reliably calculated by extrapolating past data or using analyst consensus cash flow predictions.

This is quite a rare situation as 89% of companies covered by Simply Wall St do have a valuation analysis.


Next Steps

  • Take a look at our analysis of IGAM’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  • When valuing a company like this, investors focus more on how they perceive the size of the opportunity, the company's ability to deliver and scale, and the strength of the team. While we are not analysing this type of data at the moment, if you don’t know where to start, we recommend reading through Integrity Gaming regulatory filings.
  • Explore potentially undervalued companies in the Consumer Services industry.

Future Growth

How is Integrity Gaming expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

76.1%

Forecasted Consumer Services industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Integrity Gaming has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Integrity Gaming performed over the past 5 years?

-2.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Integrity Gaming does not make a profit and their year on year earnings growth rate was negative over the past 5 years.

Unable to compare Integrity Gaming's 1-year earnings growth to the 5-year average as it is not currently profitable.

Unable to compare Integrity Gaming's 1-year growth to the CA Hospitality industry average as it is not currently profitable.


Return on Equity

It is difficult to establish if Integrity Gaming has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.


Return on Assets

It is difficult to establish if Integrity Gaming has efficiently used its assets last year compared to the CA Hospitality industry average (Return on Assets) as it is loss-making.


Return on Capital Employed

It is difficult to establish if Integrity Gaming improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.


Next Steps

Financial Health

How is Integrity Gaming's financial position?


Financial Position Analysis

Integrity Gaming is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Integrity Gaming's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Integrity Gaming has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.

Irrelevant to check if Integrity Gaming's debt level has increased considering it has negative shareholder equity.


Balance Sheet

High level of physical assets or inventory.

Integrity Gaming has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Integrity Gaming has sufficient cash runway for 1.2 years based on current free cash flow.

Integrity Gaming has sufficient cash runway for 1.2 years if free cash flow continues to grow at historical rates of 35.8% each year.


Next Steps

Dividend

What is Integrity Gaming's current dividend yield, its reliability and sustainability?


Dividend Yield and Payments Analysis

Unable to evaluate Integrity Gaming's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate Integrity Gaming's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as Integrity Gaming has not reported any payouts.

Unable to verify if Integrity Gaming's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Integrity Gaming has not reported any payouts.


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of Integrity Gaming's salary, the management and board of directors tenure and is there insider trading?

1.1yrs

Average management tenure


CEO

Bob Miodunski (67yo)

0.7yrs

Tenure

US$13,000

Compensation

Mr. Robert L. Miodunski, also known as Bob, has been an Independent Director of Golden Entertainment, Inc. since July 29, 2015. He has been the Interim Chief Executive Officer of Poydras Gaming Finance Cor ...


Management Age and Tenure

1.1yrs

Average Tenure

The average tenure for the Integrity Gaming management team is less than 2 years, this suggests a new team.


Board Age and Tenure

4.3yrs

Average Tenure

57.5yo

Average Age

The tenure for the Integrity Gaming board of directors is about average.


Insider Trading

More shares have been bought than sold by Integrity Gaming insiders in the past 3 months.


Recent Insider Transactions

BuyUS$1,13813 Feb 19
Steven Morfey
EntityIndividual
Shares2,500
Max PriceUS$0.46
BuyUS$26,61812 Feb 19
Steven Morfey
EntityIndividual
Shares58,500
Max PriceUS$0.46
SellUS$23,00011 Feb 19
Adam Kniec
EntityIndividual
Role
Chief Financial Officer
CFO & Corporate Secretary
Shares50,000
Max PriceUS$0.46
BuyUS$1,82008 Feb 19
Steven Morfey
EntityIndividual
Shares4,000
Max PriceUS$0.46
BuyUS$68207 Feb 19
Steven Morfey
EntityIndividual
Shares1,500
Max PriceUS$0.45
BuyUS$8,41805 Feb 19
Steven Morfey
EntityIndividual
Shares18,500
Max PriceUS$0.46
BuyUS$22831 Jan 19
Steven Morfey
EntityIndividual
Shares500
Max PriceUS$0.46
BuyUS$33,21530 Jan 19
Steven Morfey
EntityIndividual
Shares73,000
Max PriceUS$0.46
BuyUS$45,50028 Jan 19
Steven Morfey
EntityIndividual
Shares100,000
Max PriceUS$0.46
BuyUS$45,50024 Jan 19
Steven Morfey
EntityIndividual
Shares100,000
Max PriceUS$0.46
BuyUS$84,06822 Jan 19
Steven Morfey
EntityIndividual
Shares184,500
Max PriceUS$0.46
BuyUS$455,68216 Jan 19
Steven Morfey
EntityIndividual
Shares1,001,500
Max PriceUS$0.46

Ownership Breakdown


Management Team

  • Bob Miodunski (67yo)

    Interim CEO & Director

    • Tenure: 0.7yrs
    • Compensation: US$13.00k
  • Adam Kniec (49yo)

    CFO & Corporate Secretary

    • Tenure: 3.3yrs
    • Compensation: US$182.12k
  • Philip Bowden

    Executive Vice President of Integrity Gaming LLC

    • Tenure: 1.1yrs
  • Lynn Wallis

    Controller

    • Tenure: 1.1yrs

Board Members

  • Bob Miodunski (67yo)

    Interim CEO & Director

    • Tenure: 0.7yrs
    • Compensation: US$13.00k
  • David Danziger (61yo)

    Chairman of the Board

    • Tenure: 1.5yrs
    • Compensation: US$17.50k
  • Prakash Hariharan (46yo)

    Independent Director

    • Tenure: 4.8yrs
    • Compensation: US$7.75k
  • David Oishi (54yo)

    Independent Director

    • Tenure: 9.6yrs
    • Compensation: US$12.00k

Company Information

Integrity Gaming Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Integrity Gaming Corp.
  • Ticker: IGAM
  • Exchange: TSXV
  • Founded:
  • Industry: Casinos and Gaming
  • Sector: Consumer Services
  • Market Cap: CA$17.478m
  • Shares outstanding: 38.41m
  • Website: https://www.integritygaming.com

Location

  • Integrity Gaming Corp.
  • 800 West Pender Street
  • Suite 1430
  • Vancouver
  • British Columbia
  • V6C 2V6
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IGAMTSXV (TSX Venture Exchange)YesNew Common sharesCACADMay 2014

Biography

Integrity Gaming Corp. operates slot routes in the United States. The company leases and distributes slot machines, electronic table games, and casino equipment and supplies to tribal casino operators, as  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/02/28 02:02
End of Day Share Price2019/02/13 00:00
Earnings2018/09/30
Annual Earnings2017/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.