This morning there are a number of companies that are going to come on to the radars of investors. However, at the same time, it is not possible for investors to keep track of all those companies, and hence, there is an important need to be selective with the choices. One of the companies which is expected to come on to the radars of investors this morning is HeadsUp Entertainment International Inc (OTCMKTS:HDUP) and it may well be a good time for investors to start taking a keener interest in it.
On Tuesday, HDUP stock slid 1.96% to $0.1598 with 1.67 million shares, compared to its average volume of 547K shares. The stock moved within a range of $0.1536 – 0.1850 after opening trade at $0.1730.
About HeadsUp Entertainment
The company is involved in the fast-growing global gaming industry and at the same time, it also functions as a media company. The company’s gaming interests span eSports, sports betting, online poker, charity fundraising platforms, online lottery, online gaming, and mobile 50-50.
HeadsUp Entertainment has also made a foray into software as well as into payments solutions which are powered by blockchain technology. As it happens, the company was in fact in the news yesterday following a major new announcement and it could well be a good idea to consider taking a closer look into it.
HeadsUp Completes Corporate Milestone in Acquisition of Spinola Gaming
HeadsUp Entertainment announced yesterday that it had been successful in completing the acquisition of the major global lottery software providing company Spinola Gaming. The company claimed that it was a major milestone. There were certain critical steps that were involved with regard to the entire acquisition process. The last critical step was buying out all those 3rd parties which had a shareholding in Spinola. Yesterday, the company announced that the particular step had been completed.
Now, HeadsUp Entertainment is in a to complete the acquisition of Spinola as well as its related companies. It will not give the company control over all of Spinola’s assets, which include licenses for running operations in Latin America, Europe, and other regulated gaming markets.
It is clear to see that with this acquisition HeadsUp Entertainment is going to be in a position from which it could be able to expand its offerings across a range of geographies. It was noted in the press release yesterday that the full acquisition of Spinola is part of the company’s strategy to expand globally. The acquisition is not only going to allow the company to expand its lottery offerings but could also lead to an expansion of its instant win games as well as charity fundraising offerings.
It was also noted in independent valuations that had been conducted by HeadsUp that the agreements tied up by the company could help it in generating as much as $150 million in the form of revenues. Additionally, that figure may go up further considering the fact that HeadsUp Entertainment is currently working on negotiations with regard to new contracts.
The valuation of the Spinola acquisition had been ascertained through two independent valuations during the course of the due diligence process. The two independent valuations pegged the value of the acquisition at $65 million and $72 million.
HDUP stock is trading above the 20-Day and 50-Day Moving averages of $0.14 and $0.12 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.09. The company has a total market capitalization of $41.38 million. The stock is up 35% over the past month.