April 27, 2024

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[THE INVESTOR] DoubleUGames profits will advance over 30 percent in the second half, said Shinhan Investment on June 8, maintaining a “buy” recommendation and 82,000 won (US$76.47) target price.

Double Down Casino is showing slow but steady increase in revenue and while the stock price has dropped more than 10 percent its fundamentals have improved, said analyst Lee Mun-jong.

From the end of this month, the second update of DDC will be carried out, and payment per user is likely to increase, said the analyst adding revenue from the unit which has already introduced the Jackpot feature is spiking up to 25 percent every Friday. 

By Hwang You-mee (glamazon@heraldcorp.com)