High Roller, the operator of the eponymous highroller.com and fruta.com, offered 1,250,000 shares of its common stock priced at $8 a share last week, raising $10 million in gross funds, which does not include the underwriting discounts and other expenses incurred as part of the offering.
High Roller Convinces Investors in Market Sustainability and Growth
Underwriters may purchase additionally up to 187,500 shares of common stock within a 45-day window, with the company hoping to raise more money to spearhead its operations. The newly enhanced war chest will come handy as the company is looking to introduce new brands, and also expand into new markets.
High Roller is also an affiliate company which owns and runs the CasinoRoom.com brand and website, which was originally intended as an iGaming brand, but later was re-calibrated to an affiliate platform.
As to the company’s expansion, a core focus of its future operations could be the North American market, but other expansions are also possible. High Roller is also planning to spearhead acquisitions of additional assets, allocating $3 million to this end, with the acquisitions expected to happen over the next year and a half.
Expansion Is Still a Moving Target for the Company
There has not been a final confirmation as to where the company is going to focus its efforts, especially when it comes to expansion, so this is still going to be thrashed out in the months to follow. Essentially, the company will work for an asset that could offer a great risk-reward value.
All in all, High Roller is confident that its existing cash, revenue, and proceeds from the IPO will be sufficient to help the company continue to operate at full throttle over the next 18-24 months, giving it enough time to capitalize on investment and derive even greater returns on its market operations.
The company’s earnings for the six-month period ended in June showed that the company was operating at a loss of $3.4 million, but still managed to pull in $12.3 million in total revenue, compared to $15.6 million in expenses.
