Edison Investment Research - Travel & Leisure - bet-at-home: bet-at-home (BAH) is a long-established European sports betting brand, successfully cross-selling into gaming. Regulatory risks are high, as witnessed by IP blocking in Poland and Switzerland and the company has issued guidance of a c 10–20% decline in EBITDA for FY19. Nonetheless, BAH has consistently produced strong operating cash flow and its ability to pay high dividends is very attractive. The stock is up 28% ytd and trades at 14.9x P/E, 10.9x EV/EBITDA and 8.5% dividend yield for FY19e.
ISIN: DE000A0DNAY5
Original Article: bet-at-home (ACX) - Consistent cash generation