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Yet Another Value Podcast
Raper Capital's Jeremy Raper expounds on his letter to Bragg Gaming $BRAG
Dec 5, 2023
Jeremy Raper, founder of Raper Capital, discusses his letter to Bragg Gaming urging them to sell the company. They also explore potential buyers for Bragg Gaming, the financial benefits of acquisition, and the trial between Spirit and JetBlue.
56:21
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Quick takeaways
- Jeremy Raper urges Bragg Gaming board to sell the business due to reliance on one major customer and undervaluation compared to industry standards.
- Antitrust trial regarding Spirit and JetBlue merger reveals weak government argument and the unpredictability of trial outcomes in the market.
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Podcast Summary: Bragg Gaming
The podcast episode discusses Bragg Gaming, a B2B provider of gambling software and content to the iGaming industry. The host interviews an expert, Jeremy, who has written a letter to the company's board urging them to sell the business. Jeremy highlights that the current CEO is the principal shareholder and argues that given the structural risks of relying on one major customer, the business should be sold to maximize value for shareholders. Potential buyers mentioned include Playtech and other land-based casinos looking to enter the online gaming market. Jeremy emphasizes that the current valuation of Bragg is significantly below comparable transactions in the industry, making a sale a logical move.
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Discover
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