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TNA - Evergreen Gaming Corporation (Casinos & Restaurants)

Posted by ProfitableStocksOnly at Oct 7, 2017 6:54 PM | Report Abuse
5 comment(s). Last comment by ProfitableStocksOnly at Jan 9, 2019 11:14 AM
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ProfitableStocksOnly
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Posted by ProfitableStocksOnly > Oct 17, 2017 3:47 PM | Report Abuse

Washington State Card Room & Casino Statistics Sheet

**Note** - As per WSGC website, due to staffing shortages, Q4 2016 is the most recent statistics from card rooms that they have.

At the end of 2016 there were 65 card room casinos in the state of Washington. Dawn Mangano joined Evergreen Gaming Corporation in June 2017.

TNA Casinos – Riverside, Palace, Goldies, Chips,
Dawn Mangano Prior Casinos – Macau, Caribbean(Casino & Card Room)

Statistics Link: http://www.wsgc.wa.gov/docs/statistics/cardroom-gross/2016-4.pdf

Out of 65, this is where TNA’s and Dawn’s casinos ranked:

Dawn’s Prior Casinos:
Macau Casino - #3 of 65
Caribbean Casino - #8 of 65
Caribbean Card Room - #42 of 65

Evergreen Gaming Casinos:
Riverside Casino - #6 of 65
Goldies Casino - #11 of 65
Palace Casino - #16 of 65
Chips Casino - #23 of 65

What this shows is Dawn Mangano was able to run casinos quite well and out of the 65 listed on the sheet, two of them placed under 10. Compared to Evergreen Gaming which only had one placed under 10. Three quarters have gone by and things could be different, but I believe Dawn will play a huge role in Evergreen Gaming’s growth.

Another important note since some individuals have been worried about online gambling being a hindrance to Evergreen’s growth:

Internet Gambling Prohibited In Washington: http://www.wsgc.wa.gov/publications/brochures/5-165-internet-gambling-brochure.pdf


ProfitableStocksOnly
145 posts

Posted by ProfitableStocksOnly > Oct 30, 2017 1:22 PM | Report Abuse

Nice article from Simply Wallstreet. Looking forward to seeing TNA's Q3 results end of November and by then their $2 million Tukwila property sale (currently pending) should be completed. I am estimating that the company will earn at least $500,000 US profit. Their Q3 is always a bit slower and I am being very conservative on the earnings, especially after making over $1 million USD last quarter. Their Q1 profit $377,000 net income but that was also hurt by Tukwila still in operation at the time.

https://simplywall.st/news/2017/10/29/evergreen-gaming-and-other-great-cheap-stocks/

Evergreen Gaming Corporation (TSXV:TNA)
Evergreen Gaming Corporation engages in the gaming operations in the United States. Evergreen Gaming is run by CEO Dawn Mangano. With the company’s market capitalisation at CAD CA$17.95M, we can put it in the small-cap group

TNA’s shares are currently trading at -22% beneath its true level of $0.17, at a price tag of $0.14, based on my discounted cash flow model. This mismatch signals an opportunity to buy TNA shares at a discount. In addition to this, TNA’s PE ratio stands at 7.2x compared to its hotels, restaurants and leisure peer level of 19.4x, indicating that relative to its comparable company group, we can invest in TNA at a lower price. TNA is also in good financial health, with short-term assets covering liabilities in the near future as well as in the long run. It’s debt-to-equity ratio of 52% has been diminishing for the past few years demonstrating TNA’s ability to pay down its debt.


ProfitableStocksOnly
145 posts

Posted by ProfitableStocksOnly > May 17, 2018 5:44 PM | Report Abuse

TNA Earns $1.5 Million USD In Q1 2018

TNA.V Q1 2018 Results (Ending March 31st 2018)
All Numbers Are In US Dollars. Information from SEDAR

Price: $0.20
Common Shares: 124,716,865
Insider/Institutional Holdings: 95,967,855 or 77.51%

Financials

ASSETS (USD)
Property & Equipment: $8,916,932
Goodwill: $6,435,481
Trademarks: $1,185,000
Game License: $55,467
Deposits: $36,678
Inventories: $170,905
Receivable: $19,963
Other Assets: $93,404
Restricted Cash: $3,326,656
Cash: $8,431,973
Total Assets: $28,672,459

LIABILITIES (USD)
Deferred Tax: $279,000
Notes Payable: $5,504,185
Trade Payable: $6,013,996
Current Note Payable: $275,647
Total Liabilities: $12,072,828

Q1 2018 Performance
Sales: $10,174,943
Net Income: $1,482,979

Earnings per share in Q1: $1,482,979 * 1.30(CAD) / 124,716,865 = $0.0155c EPS
Prior Quarters - Revenue Breakdown per quarter

Date – Sales – Net Income
2014 - $30,555,757 - $2,720,669 USD
2015 - $33,338,543 - $3,933,883 USD
2016 - $33,187,853 - $1,909,408 USD
2017 - $35,609,459 - $3,032,901 USD
2018 - $10,174,943 - $1,482,979 USD

Management Discussion Highlights

Net revenues for the quarter ended March 31, 2018 were $10,174,943, an increase of $1,944,969 compared to the same period in the prior year. Table games revenue increased by approximately $1,381,000 as a result of gaming dollars dropped being 21.1% higher than the same period last year, and the hold percentage was up slightly by .1%. Poker revenue increased by approximately $456,000 as a result of making the Palace Lakewood all poker tables effective February 1, 2018. Operating expenses were $8,245,859 in the quarter ended March 31, 2018 compared to $7,620,589 in the prior year quarter. Labor and benefits expenses decreased slightly by approximately $11,000. This decrease was primarily due to the closure of the Palace Tukwila that took place on February 4, 2017. The decrease was offset by the increase in the minimum wage that went from $11.00 to $11.50 effective January 1, 2018. Marketing and administrative increased approximately $356,000 which was primarily due to marketing expenses increasing approximately $420,000 offset by a decrease in management fees of $75,000. The increase in marketing expenses consisted of $207,000 at the Palace Lakewood and $213,000 at the other locations. The Palace Lakewood increase was the result of promoting the location as an all poker facility. The management expenses decreased as the result of terminating the management agreement with Michels Management Services effective December 31, 2017. Gaming taxes and license expenses increased approximately $215,000 as a result of the increased gaming revenue.

The Company’s cash at March 31, 2018 was $11,758,629, compared to $10,043,965 at December 31, 2017. These amounts include “Restricted Cash” balances of $3,326,656 and $2,975,946 respectively. “Restricted Cash” balances are jackpot funds held for prizes being offered at the casinos. Cash provided by operating activities for the quarter ended March 31, 2018 was $1,838,039 compared to $1,250,501 for the quarter ended March 31, 2017.

The Company’s assets at March 31, 2018 totaled $28,672,459 compared to total liabilities of $12,072,828. At December 31, 2017, total assets were $27,062,630 compared to total liabilities of $11,945,978.

Net revenue increased to $10,174,943 in the quarter ending March 31, 2017 compared to $9,413,335 in the quarter ending December 31, 2017. Gaming dollars dropped increased 3.4% in the current quarter and the hold percentage increased 0.7% compared to the quarter ending December 31, 2017. Operating expenses in the quarter ending March 31, 2018 were $8,245,859 compared to $8,394,959 in the prior quarter. Labor and benefits expense decreased approximately $112,000 in the quarter ending March 31, 2018 compared to the prior quarter. This decrease was primarily due to labor and benefits expense at Palace Lakewood decreasing approximately $154,000 as a result of converting the location to all poker on February 1, 2018.


ProfitableStocksOnly
145 posts

Posted by ProfitableStocksOnly > Jul 17, 2018 2:25 PM | Report Abuse

Looks like resistance has hit this stock over the last month despite decent earnings. Starting to unload my position and take the 100%+ gain and purchase AXM.V and CAF.V since they are half the price with more potential than TNA.V. Getting two stocks for the price of one is always a good deal and great diversification strategy. What the market has taught us is despite the venture at a three year low, earnings based companies continue to go up. The losses are coming from Marijuana/Crypto and speculative companies that have no capital to work with. Thus buying small caps that generate free cash flow cannot lose in these turbulent times. But AXM being in gold and CAF in coking coal used for steel, these two metals are highly sought after right now.


ProfitableStocksOnly
145 posts

Posted by ProfitableStocksOnly > Jan 9, 2019 11:14 AM | Report Abuse

TNA announcing today that it's going to sell itself. This was obvious given the growth of the company and lack of interest in promoting it. Purpose was to clean up the balance sheet since 2013 and then sell it off since insiders own around 75% of the stock. I started posting about this stock in 2017 and in less than 2 years it's gone from $0.04 to $0.34 with a steady rise. The next big stock I have been adding is AXM.V(Axmin Inc) or AXMIF on the US side. Axmin Inc has a proven resource and could do the same thing TNA did, go up 10 fold over the next couple years as the company is getting back a proven gold mine that is worth several times the current market cap. Not only that, it's cash flow postive like TNA from a royalty it owns in Senegal and heavy insider ownership.

News below:

Evergreen Gaming in talks to sell itself

2019-01-09 07:56 MT - News Release


Mr. Clive Forth reports

CORPORATE UPDATE

Evergreen Gaming Corp. has entered discussions with a third party that has expressed an interest in buying the company. No definitive terms have been agreed to, no formal agreements have been executed and there can be no assurance that the discussions will be concluded, any definitive agreement will be entered into or any transaction will be consummated. The company does not expect to provide further information or updates until a definitive agreement has been entered into or discussions between the parties have been terminated.


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