Rare stake in private gaming group VGW offered at $3.38b valuation

The corporate reported greater than $2 billion income within the 2021 monetary 12 months, in response to phrases despatched to potential consumers, and greater than $300 million in money EBIT.

And it paid dividends price greater than $290 million within the 12 months to June 30.

The selldown valued VGW at 1.6-times FY21 income, on an enterprise worth to income foundation, 10.5-times FY21 EBIT and at an 8.6 per cent dividend yield.

VGW is a public unlisted firm, and fund managers stated the selldown got here on the again off an organization roadshow aimed toward household places of work and establishments final week that was additionally run by Canaccord.

VGW founder, chairman and main investor Laurence Escalante was not one of many sellers on Monday night time.

The commerce represents a milestone for VGW – it’s the primary time Road Speak has seen such a block within the firm – and is bound to draw some new faces to its share register.

It’s additionally attention-grabbing to see it come out of Canaccord, which appears to be getting deeper into the pre-IPO and personal capital markets given its world household workplace and excessive internet price investor connections.