{"id":10697,"date":"2020-05-13T16:33:01","date_gmt":"2020-05-13T16:33:01","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=10697"},"modified":"2020-05-13T11:27:11","modified_gmt":"2020-05-13T11:27:11","slug":"william-hill-and-kambi-could-launch-ipo-in-america","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/william-hill-and-kambi-could-launch-ipo-in-america\/","title":{"rendered":"William Hill & Kambi Could Launch IPO in America"},"content":{"rendered":"

\"WilliamGAN<\/a> who is the platform provider for FanDuel<\/strong> and DraftKings<\/strong> have enjoyed strong IPO\u2019s in the United States in the last few weeks. Financial analysts believe that the IPO success of these gambling firms will spur other gambling firms to follow in their footsteps. <\/p>\n

Financial analysts believe that the next two firms who could launch a U.S. IPO could be William Hill and Kambi. Both operators already maintain a presence in the U.S market<\/a> and their share value in London and Stockholm could be undervalued, pushing them into a U.S. listing. <\/p>\n

GAN and DraftKings have seen their public listings rise over the past weeks, due to frenzied activity by US investors, many of whom expect a surge in online gambling once the COVID-19 pandemic abates enough for mainstream sports to resume.<\/p>\n

The $7 billion market cap for DraftKings<\/a> is now more than double their initial projections of $3.3 billion, with shares trading at almost $24 last week. Shares of GAN, which recently moved its listing to the Nasdaq from London, are now trading at nearly $14 each, around double their IPO projections of $6.50 to $8.50.<\/p>\n

The lofty projections of both DraftKings and GAN have both been surpassed by the appetite of US investors, which may induce similar firms to make the same leap. However, Dermot Smurfit<\/strong>, CEO of GAN, noted that the hurdles set by the Securities and Exchange Commission (SEC) made this move difficult.<\/p>\n

Hurdles Faced by Kambi and William Hill<\/h2>\n

According to Symmetry Invest\u2019s CEO Andreas Aaen<\/strong>, Kambi\u2019s revenue is gradually growing in the U.S market. Aaen believes that Kambi\u2019s shares would benefit from being listed in the US, estimating its shares\u2019 trading value at around SEK500, based on the valuations of GAN and DraftKings. <\/p>\n

However, Kambi\u2019s potential public listing in the US may be hindered by its reliance on its European businesses. Kambi derives just 37% of its revenues from the US. For their part, Kambi has maintained that an IPO in the US is not a high priority in the meantime.<\/p>\n

William Hill<\/a> may also benefit from listing itself on the US market. However, its US business is bundled with its other businesses, primarily in Europe.<\/p>\n

CNBC Television<\/strong><\/p>\n

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