The sports gambling industry in the United States may still be in the early stages but at the same time, it is necessary to note that the industry is expected to grow at a fairly rapid pace in the coming years as more and more people move into it as a form of entertainment. Consequently, investors are also going to get into the possibility of investing in the stocks of companies that are involved in the sector.
If you are currently looking for such stocks then one of the stocks that you could look into is that of Winners Inc (OTCMKTS:WNRS). This article is going to give you a fair idea about the nature of the company’s business and also an overview of the latest news about Winners which may have an effect on the stock price.
Trading Data
On Tuesday, WNRS stock fell 1.25% to $0.0079 with more than 272K shares, compared to its average volume of 206K shares. The stock moved within a range of $0.0079 – 0.0085 after opening trading at $0.0080.
About The Company
The company mainly operates through its subsidiary unit VegasWinners, which is involved in providing data, sports gambling research, predictions, analysis, and advice to sports betting enthusiasts. The company manages to provide this service through the availability of special media tools and through its database of users.
Since Supreme Court ruled in 2018 that states in the United States had the right to allow sports gambling, the floodgates opened for the industry and it is expected to grow at a significant clip in the coming years. It may lead to fairly quick approval state by state. VegasWinners is looking to function as a sports gambling affiliate that seeks to boost traffic to gaming operators and consequently earn a commission. At this point in time, it is registered in as many as 6 states and can operate in 7 others. Applications have been made for other states.
Winners, Inc. Acquires “The Longshot Report” With Over 15,000 Active Subscribers in Their Sports Handicapping Service as Part of Its NEW Roll-Up Strategy
Yesterday, there was a major new development with regards to Winners Inc and it may be a good idea for investors to consider taking a look into it. Winners announced yesterday that it had been successful in acquiring the company Gold Longshots LLC, which is also known as The Longshot Report. Gold Longshots is a fast-growing subscription-based online resource that provides weekly advice with regard to sports betting and fantasy sports.
The offerings include gold, hockey, football, and basketball, however, the offerings are not limited to those sports. It not only boasts of an online platform but also offers a mobile app. The mobile app is available both on the App Store as well as on the Play Store. The acquisition made by Winners is part of the newly initiated Roll-Up strategy and more acquisitions could be in the pipeline.
Investors need to note that a roll-up strategy is one in which a company acquires a number of smaller companies from the same industry and then goes on to create a larger single entity. This sort of strategy allows the company to not only cut down on costs considerably but also helps in combining resources and boosting revenues. It may be a good idea to keep an eye on the Winners stock this morning.
Technical Data
WNRS stock is trading below the 20-Day and 50-Day Moving averages of $0.0081 and $0.0093 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0147. The company has a total market capitalization of $1.46 million. The stock is down 40% over the past 6-month.
