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    Information technology services
B-Gaming SA

B-Gaming SA

350.50
ARS
+0.50
(+0.14%)
56.53EPS
7.39P/E
142.12BMarket Cap
B-Gaming SA
BYMA:GAMI.CI
(Buenos Aires Stock Exchange)

Recent

price

350.50

P/E

ratio

7.39

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
ARS
10.82
12.88
14.72
14.91
16.5
21.48
28.76
32.3
71.08
79.59
11.65
30.08
69.79
191.27
170.76
206.35
256.17
Revenue per Share
2.96
3.45
4.4
3.78
4.44
4.8
8.23
10.78
19.25
20.84
2.36
6.15
7.1
8.14
-23.79
23.84
56.53
Basic EPS, GAAP
3.42
3.3
1.55
5.32
6.02
5.82
9.78
10.58
20.87
14.17
0.35
8.33
17.9
7.03
-20.84
19.45
52.03
Free Cash Flow per Basic Share
2.52
3.15
1.99
0.5
8.43
1.5
7.5
12.78
16.57
20.33
1
7.78
14.56
7.48
- -
- -
- -
Dividend per Share
2.98
3.28
5.68
7.99
4
7.57
8.3
4.79
15.73
22.1
5.5
8.45
13.05
38.9
27.29
51.13
109.23
Book Value per Share
2.86
3.21
5.67
7.92
3.92
7.13
8
4.56
14.98
21.18
4.72
6.97
9.31
26.96
17.95
46.84
103.97
Tangible Book Value per Share
45
45
45
45
45
42
42
50
50
50
397
340
340
340
340
340
340
Basic Weighted Avg Shares
487
580
662
671
743
906
1,213
1,615
3,554
3,979
4,623
10,226
23,727
65,031
58,058
70,158
87,097
Sales/Revenue/Turnover
41.94
41.07
45.29
40.82
35.88
33.91
41.58
50
44.62
41.18
34.23
33.49
26.12
17.63
-5.41
19.8
28.92
Operating Margin (%)
17
26
28
19
26
51
67
58
220
196
362
755
1,637
3,857
5,790
5,335
6,854
Depreciation Expense
133
155
198
170
200
202
347
539
962
1,042
937
2,090
2,415
2,768
-8,089
8,106
19,221
Net Income, GAAP
35.08
35.25
34.43
35.46
34.76
34.55
35.57
35.15
40.41
34.95
30.6
31.88
46.91
47.9
- -
27.9
25.72
Effective Tax Rate (%)
27.35
26.79
29.88
25.38
26.93
22.36
28.61
33.39
27.08
26.18
20.27
20.44
10.18
4.26
-13.93
11.55
22.07
Profit Margin (%)
101
110
223
296
50
138
201
49
390
614
1,175
1,426
2,019
5,491
-3,134
3,816
7,407
Working Capital
3
5
14
4
- -
8
- -
- -
- -
- -
65
- -
64
4,765
3,428
3,819
3,285
LT Debt
134
148
255
359
180
319
350
239
787
1,105
1,870
2,874
4,438
13,227
9,279
17,385
37,138
Total Equity
70.06
71.35
64.25
43.55
54.47
67.06
76.59
121.38
136.19
97.08
61.99
80.17
75.89
45.17
- -
43.51
52.11
Return on Invested Capital (%)
83.26
83.76
76.14
47.15
70.86
79.72
103.39
180.68
187.61
110.26
64.83
83.84
64.75
24.66
- -
36.81
59.56
Return on Capital (%)
107.21
110.4
98.2
55.39
74.16
81.15
103.75
183
187.56
110.14
63
88.13
66.07
31.34
-71.89
60.8
78.45
Return on Common Equity (%)

Capital Structure

ARS

•

in mil. unless spec.
Jan'26
Apr'26
Jul'26
ST Debt
7,961
7,680
6,588
LT Borrowings
- -
- -
- -
LT Finance Leases
3,831
3,456
3,285
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
340
340
340
Market Capitalization
79,730
94,520
142,120

Working Capital

ARS

•

in mil. unless spec.
Jan'26
Apr'26
Jul'26
Total Current Assets
24,560
29,630
32,302
Cash, Cash Equivalents & STI
5,605
11,420
13,333
Accounts Receivable, Net
13,709
13,472
14,590
Inventories
2,449
2,522
2,579
Total Current Liabilities
21,995
25,507
24,895
Payables & Accruals
- -
- -
- -
ST Debt
7,961
7,680
6,588
Deferred Revenue
- -
- -
- -

Growth Rates

ARS

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
68%
72.73%
87.35%
Free Cash Flow
149.82%
283.43%
-193.32%
Net Income, GAAP
-23.57%
-87.84%
-200.2%
Sales/Revenue/Turnover
65.27%
87.48%
20.84%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

ARS

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
12,887
10,656
12,925
15,721
58,058
2025
17,700
19,082
22,968
22,502
70,158
2026
20,837
20,682
23,077
- -
- -

Quarterly Earnings Per Share

ARS

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-18.9
-0.12
-2.21
-0.53
-23.79
2025
3.13
5.6
2.8
14.59
23.84
2026
11.36
18.77
11.81
- -
- -

Quarterly Dividends Per Share

ARS

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
B-Gaming S.A. is an Argentina-based technology solutions provider specializing in the development, implementation, and management of data processing, telecommunications, and real-time transaction systematization systems for state lotteries and regulated gaming authorities. Tracing its operational roots to the gaming technology division of Grupo Boldt and established as an independent corporate entity in 2006 through a strategic group restructuring, the company is headquartered in Buenos Aires, Argentina, and trades on the Bolsas y Mercados Argentinos under the ticker symbol GAMI. B-Gaming S.A. serves government lottery boards, provincial regulatory institutes, and commercial agency networks across the regulated gaming and public betting sectors. The company provides an integrated portfolio of proprietary hardware, software platforms, and managed operational services, structured into key offerings: real-time lottery transaction capture, validation, and processing engines; customized point-of-sale lottery terminal hardware and automated validation peripherals; secure telecommunications infrastructure, encompassing dedicated satellite VSAT networks and encrypted terrestrial data links; comprehensive lottery management and regulatory audit software suites; turnkey systems for computerized draw games, instant lotteries, and betting administration; field maintenance, hardware support, and technical logistics; and regulatory consulting, agency network training, and commercial management services. Geographically, B-Gaming S.A. operates across major Argentine provincial jurisdictions, including Buenos Aires, Santa Fe, Córdoba, Entre Ríos, and Formosa, while maintaining international market presence through consortium partnerships and contracts across Latin America, including Costa Rica, Uruguay, and Paraguay. In recent developments, B-Gaming S.A. has undergone significant corporate and operational transformations, including participation in shareholder restructuring processes, tender offers, and share exchange arrangements within the broader Grupo Boldt ecosystem to streamline group operations. The company has also executed strategic corporate spin-offs of specialized technology assets into dedicated entities, including Boldt Tech S.A., to enhance development focus in digital software solutions. Operationally, B-Gaming S.A. continues to advance the technological modernization of its provincial lottery networks, supporting digital omnichannel expansion alongside affiliated online gaming and sports betting platforms such as bplay, participating in major public tender renewals across Argentine gaming jurisdictions, and establishing its unified administrative headquarters on Avenida Caseros in the City of Buenos Aires.