Media and Games Invest (MGI) is a fast-growing games and media business, supplementing organic growth (Newzoo: 8.4% growth 2019-22) with a 'buy, integrate, build and improve' acquisition strategy. Gamigo, MGI's principal gaming business, delivered an FY14-19 CAGR of 31% for revenue and 61% for EBITDA. MGI's M&A strategy is focused on the acquisition of assets from distressed businesses at attractive valuations, with growing cash flows expected to rapidly reduce outstanding net debt (estimated at c €70m at H120). It has recently bought out the remainder of gamigo and expects to see further efficiency gains as it scales. MGI is benefiting from increased consumer demand as a result of the COVID-19 lockdown, as can be seen in the double-digit growth in daily active users and new customers. Management sees no slowdown in growth or attractive acquisition opportunities in FY20 or the foreseeable future.Den vollständigen Artikel lesen ...