2/9/21 Update: Additional info posted here

Funko is a good company with solid performance that is still trading at a reasonable price.
Check out my DD below:
Funko (FNKO)
Share Price (02/01/21) : $12.90
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
Retail exclusives can grow the potential universe of licenses and increase retailer buy-in
· For example: A retailer like GameStop could lobby Funko to make a GameStop exclusive of the WallStreetBets Kid like this person suggested here. (The exclusive Pop! would be made into a limited edition and sold only to GameStop to sell at their stores)
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.
Previous DD: Herman Miller

2/9/21 Update: Additional info posted here

Funko is a good company with solid performance that is still trading at a reasonable price. Check out my DD below:
​
Funko (FNKO)
Share Price (1/28/21) : $11.97
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
Retail exclusives can grow the potential universe of licenses and increase retailer buy-in
· For example: A retailer like GameStop could lobby Funko to make a GameStop exclusive of the WallStreetBets Kid like this person suggested here. (The exclusive Pop! would be made into a limited edition and sold only to GameStop to sell at their stores)
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.
Previous DD: Herman Miller

2/9/21 Update: Additional info posted here

Hi everyone.
Funko is a great stock that I believe will do well this year. Internet search traffic for Funko has been increasing and is at all-time highs over the last couple of months. The company is selling more of their toys directly to customers through their e-commerce shop (which allows them to capture higher retail revenues than wholesale revenues). And demand for collectibles and toys continues to be strong.
Here is a DD I wrote on the company below. I would love to get your thoughts.

Funko (FNKO)
Share Price (1/28/21) : $11.97
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.

Hi all,
To celebrate the return of Undervalued to the Reddit community, I decided to put together a quick DD and post it on a stock that I have had my eye on for a little while. It's still a "work-in-progress" and I may potentially update it later on Reddit with more information or detail if I have time at some point in the future.
If you have any opinions, thoughts, or additional information, please share it. Positive. Negative. Neutral. All information is helpful and informative to the community. (I thought the feedback received from my first DD posted to this sub was quite helpful and I look forward to what you have to say.)
Thank you to u/BuyLowSellNever for turning the sub back on; allowing us to share and discuss ideas with the broader community in a thoughtful and respectful manner. Best wishes. - LA

Funko (FNKO)
Share Price (1/28/21) : $11.97
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.

2/9/21 Update: Additional info posted here

I was bartending on the Strip at a resort (pre-COVID of course). A lady sits down and starts chatting:

• Her: "Are there any attractions here in Las Vegas that are good for children?
• Me: "Not really. They tried with the family attractions back in the 90's with rides at Circus Circus, a theme park at MGM Grand, and a water park on the Strip amongst other things. They didn't go over well since the city is mainly based off gambling. Not to mention people didn't like seeing kids running through a casino."
• Her: "Don't you think that would be great to have some attractions here that are family friendly? Things that can be enjoyed by the kids?"
• Me: "As a matter of fact, there's a really good place just West of Las Vegas that is family friendly and great for the kids."
• Her: "Oh really?! That's great! Where is it and what is it called?"
• Me: "It's about a 4 hour car drive from Vegas. It's located in Anaheim California. It's called Disneyland."

I avoided Vegas for all of 2020, not because I have any fears whatsoever regarding COVID, but simply because I felt that it was just going to be depressing and annoying combatting the virus hysteria. (Following the Vegas sub didn't help, as those folks pounce on anyone considering visiting as being selfish, despite tourism being the town's only export.)
I was pleasantly surprised that the Strip wasn't as post-apocalyptic as I was expecting. There still appear to be plenty of people visiting... the crowds weren't as thick as they normally would be, which some would say is a plus, but there also wasn't a dearth of people, either.
I was comped at both Caesars and MLife, so I booked at both. I stayed at the Paris and stuck my friend at the Grand. FWIW, the $20 trick worked at Paris (I figured it was an especially good play when the staff's income has taken a hit), and I was upgraded to a corner suite overlooking the Bellagio Fountains.
Onto the craps play... Sunday through MLK at noon, we failed to find anything below $15. I submitted my edits to the minimums spreadsheet that is stickied here. Oddly, Linq and Park MGM just did not open any tables at all... I'm not sure what the rationale is for that. We decided to stick mostly with Caesars properties, as they don't have Plexiglas dividers at the tables. All MGM properties have these, and it makes the casino look like a house of mirrors.
I had brought a $1k bankroll, but bought in for $300 each time...I tend to be very frugal, even while gambling. My strategy was to play the pass line, place the 6/8 for $12 each, and take 1x odds for 4/6/8/10. (I hate taking odds on 5/9.) After a place number hit 3 times, I would press on the 4th hit. That was usually a great way for the next roll to be an SO.
MLK afternoon at Paris I did "OK," but the recently lowered $10 minimum was raised back to $15 again. This depleted my bankroll faster than I expected, but I guess it makes sense, as my strategy went from costing me $44 to $66 per swing. There were a lot of PSOs, too. For reasons I can't understand, my friend and I could never get a good roll going, but there were two shooters at our table that we knew we could count on for recovery. I don't know how that is - the dice are the dice - but these two guys could always go on heaters for a long time. The dice would be passed to us, and after a few 2s and 3s, we'd PSO. After some ups and downs, I finally walked away with $250.
MLK evening, after some Beef Wellington at Gordon Ramsay Steak, the table was back to $10 again, and had no players, so my friend and I opened it. As with the above, our rolls were miserable. PSO after PSO. Other players would come and go, seeing how bad the game was going. I tried to switch to the DP when my friend rolled ("nothing personal"), and then he'd magically start making points. It was awful. I finally got down to my last $10, and bet the line with him, and he caught his second wind. Gradually brought me back to $292, and we colored up at 1am.
Although Paris doesn't have table dividers, they insisted on sanitizing the dice between shooters. Even when it was just my buddy and I, and I said we were in the same party, it wasn't necessary, they responded "well, it's for our safety." I bought that for a few minutes until I realized they hardly touch the dice, yet they don't mind grabbing everybody's chips that are getting intermixed with different people's germs.... whatever, it's all stupid theatre.
Tuesday afternoon, my friend headed back to Phoenix and I was waiting for a late flight. I stumbled upon a $10 table at Aria, and since it was just me, I decided to deal with the Plexiglas (which turned out to be wildly ineffective when I could still fist bump and talk to the player immediately left-of-stick from my catty-corner of the table, 3 feet away). My bad luck shooting dissipated. I hit several good rolls, and since it was my last day, I decided to loosen the wallet a bit, and would go up to 3x odds, particularly on 4s and 10s since they pay 2:1. I would also press 6s and 8s, which I had a real affinity for hitting, earlier than customary for me. (This probably still sounds like low rolling to many of you, but it's a big step for me!) I ended up more than doubling my buy-in, negating my losses from the other two sessions and putting me up slightly on the trip.
MGM has two sets of dice they can rotate between, and one goes in a golf ball washer while the other is in play. This seemed a lot smarter and didn't affect the game's momentum as much as Paris did, scrubbing them down with a ratty cheesecloth and diluted Clorox.
I still had 4 hours until my flight, which was bittersweet, but I'm glad I colored up when I got off of a good high shooting. It felt good, actually, that other players were disappointed that I was leaving, because I was making them some good money, but it was time for me to step back and enjoy my winnings. I bought my kiddo a T-shirt at the ABC store, waited an hour for the Centennial Express (told you I was frugal), and sat in The Club LAS until my flight boarded.
Both MGM and Caesars sent me e-mails asking me to book another complimentary trip before either room's folio arrived. I'm considering it.

With the expansion of online casino options that have significantly better promos and payouts, I feel that B&m locations run a risk of losing a ton of business.
I went back to my local for the first time since COVID after playing online. In my time online I hit two handouts, on a 3 and 6 dollar bet, which is as many as I hit in essentially 10 years of playing at b&m casinos, and the two I did hit were both on high limit 10 dollar spins with one be 1200 dollars on the dot.
My experience today was horrendous as usual. I wanted to play buffalo grand and it sucked 250 dollars out of me in 10 minutes on a 3 dollar bet before I did hit a bonus. I retrievers up to forty spins but I only got 40x on the bonus which for forty spins frankly sucks. I played 400 total and that was my best hit on any machine and I was gone in an hour.
Meanwhile, my experience playing on DK and MGM has been significantly better. I notice far more wins in the 100 to 200x range, which at one point at my local I counted 10 straight trips I didn’t even get that.
Also, my local offers almost no promos and has no hotel. Free play is laughable, like 20 dollars a week. You can get a BOGO buffet. I had a spin for my birthday and I got 5 dollars free play.
Meanwhile DK constantly gives me deposit bonuses and pretty great profit boosts for the sportsbook. You can also tell the difference between a 95%+ playback online and the 85% you get at a lot of the machines at my local.
Bottom line, I won’t be going back. In a friends group for a night out or to play table games, yes, but there is literally zero reason to go play at a b&m and get screwed over when I get a better payback online and frankly better benefits. I’ll still go to Vegas as they do give food offers, but locals...screw them.

Someone recently posted about MGM being overpriced, I'll add to that.
Today Nevada Governor announced new restrictions. Max capacity of casinos, bars, and restaurants are going from 50% to 25% starting Tuesday.
December is generally our slow season, and to add covid restrictions we had our occupancy projections pretty low. (17-25% on the weekdays, 40-60% on weekends).
With the surge, we've had massive cancellations. New projections have us around 5-10% occupancy during the week, 30-40% on weekends. This forced MGM to close 2 more casinos during the week (mirage and mandalay bay, in addition to Park MGM that was already weekends only.) We're closing more restaurants and lowering operating hours for those that remain open.
Vaccine news seems to have given MGM a massive bump, but here's the real deal. The vaccines, at best, won't be widely distributed till summertime. Most of MGM's profit is earned during the peak convention season of January-May. All those massive conventions have canceled, CES included.
Summertime is very slow for Vegas, even pre-covid. Oct+Nov are usually decent, but then December is bad again.
2021 is dead on arrival for MGM resorts and all other Vegas casinos.
The massive run up to 26/27 made no sense.
Positions: 12/4 $25 Puts. I got in on Friday when MGM was trading at 27.
Edit to say this is my first DD, hope I did it right.

Welcome to Lost in the Sauce, keeping you caught up on political and legal news that often gets buried in distractions and theater… or a global health crisis.
Housekeeping:

• HOW TO SUPPORT: I know we are all facing unprecedented financial hardships right now. If you are in the position to support my work, I have a patreon, venmo, and a paypal set up. No pressure though, I will keep posting these pieces publicly no matter what - paywalls suck.
  
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Post-election

On Saturday, Trump announced on Twitter that he has put his personal lawyer Rudy Giuliani in charge of his campaign's long-shot post-election legal challenges. Other people on the team include Joseph diGenova, Victoria Toensing, Sidney Powell, and Jenna Ellis.

• Giuliani worked with a Russian agent to smear Biden. diGenova and Toensing tried to get the Justice Department to drop charges against corrupt Ukraine oligarch Dmytro Firtash. Powell represents Michael Flynn and champions "deep state" conspiracies. Ellis said gay marriage leads to pedophilia.

NYT: Mr. Trump turned to Mr. Giuliani earlier on Friday in reaction to the latest setback he faced in court, this one relating to votes in Maricopa County, Arizona… A half-dozen other Trump advisers have described Mr. Giuliani’s efforts as counterproductive and said that he was giving the president unwarranted optimism about what could happen… In an Oval Office meeting with aides on Thursday, Mr. Trump put Mr. Giuliani on speakerphone so the others could hear him. He angrily accused the aides of not telling the president the truth

Giuliani’s conspiracy-riddled rant at Four Seasons Total Landscaping was so disastrous that it “scared off many of the lawyers” recruited to argue election-related lawsuits. Politico: “Campaign officials described the episode as disastrous...there are widespread concerns within Trumpworld and GOP circles that Giuliani’s antics are thwarting the president’s legal machinery from within.”
Two major law firms have withdrawn from Trump campaign cases as his legal challenges crumble. Arizona’s largest law firm Snell & Wilmer dumped the RNC and Trump campaign effort to challenge votes in Maricopa County. Porter Wright Morris & Arthur is abandoning Trump’s attempt to block Pennsylvania's popular vote for Joe Biden.

• In one day (Friday), nine cases meant to attack President-elect Joe Biden's win in key states were denied or dropped - seven in Pennsylvania, one in Arizona, and one in Michigan.

The new federal chief information security officer, Camilo Sandoval, has already taken leave from his day job to participate in a pro-Trump effort to hunt for evidence of voter fraud in the battleground states. The group, Voter Integrity Fund, is a newly formed Virginia-based group that is analyzing ballot data and cold-calling voters. Sandoval was officially appointed on Nov. 4, 2020, but lists his starting date at October on his personal LinkedIn page.

WaPo: Sandoval is part of a hastily convened team led by Matthew Braynard, a data specialist who worked on Trump’s 2016 campaign. Another participant is Thomas Baptiste, an adviser to the deputy secretary of the Interior Department who also took a leave to work on the project. Braynard said in an interview that several other government officials on leave are also assisting the effort, but he declined to identify them.

Media’s role:

• Facebook Cut Traffic To Leading Liberal Pages Just Before The Election: Liberal page administrators who spoke with BuzzFeed News said that their reach declined by as much as 70%, and still hasn’t recovered.
  
• Facebook Live Spread Election Conspiracies And Russian State-Controlled Content Despite Employee Fears: The social network’s live video tool has recommended videos featuring misinformation and the hyperpartisan views of Trump allies leading up to and following election day in the US.
  
• In the week after the election, Trump’s postings dominated Facebook, accounting for the 10 most engaged status updates in the United States, and 22 of the top 25. “I WON THIS ELECTION, BY A LOT!” was his top post.
  
• YouTube Is Doing Very Little to Stop Election Misinformation From Spreading
  
• Social media app Parler receives financial backing from conservative hedge-fund investor Robert Mercer and his daughter Rebekah, The Wall Street Journal reported. Parler turned into a kind of de facto home for conservatives’ protests against the election— including the persistent “Stop the Steal” campaign— after the race was called for former Vice President Joe Biden. Several high-profile conservative social media personalities encouraged people to abandon Twitter and Facebook because of their moderation policies, and instead follow them on Parler.
  

Transition

Emily Murphy, the head of the General Services Administration, still hasn’t signed the official letter that would allow the incoming Biden team to formally begin the transition. House Democrats are assessing options to force the GSA’s hand, which could include summoning Murphy to the Hill to testify or suing her. “Obviously, Congress could file suit against the GSA administrator for failing to do her duty. We could seek to get a court to, in fact, issue an order

Her ascertainment is the legally necessary precursor to the government’s assistance to the Biden-Harris Presidential Transition Team. It releases $6.3 million dollars to the team, which is funded by public and private money; a loan of expanded federal office space and equipment; access to government agencies that will begin sharing information and records about ongoing activities, plans and vulnerabilities; national security briefings for the president; and other support.

• The Office of the Director of National Intelligence recently confirmed that it is not providing national security briefings to the president-elect. The Defense Department has also reportedly indicated that it will not meet with the Biden-Harris transition team until Murphy formally affirms the apparent winner.

One of the officials fired in Trump’s latest purge was helping prepare for the transition to the new administration. USAID Deputy Administrator Bonnie Glick was removed abruptly to make way for a Trump loyalist after she had been supportive of transition planning, including the preparation of a 440-page manual for the next administration.
The GSA’s refusal to enact the transition has locked Biden’s team out of crucial Covid-19 pandemic data and government agency contacts. The president-elect’s Covid-19 task force has been trying to work around the federal government by connecting with governors and the health community.

• The head of Operation Warp Speed, Moncef Slaoui, called on the White House to allow contact with the Biden team, saying “It is a matter of life and death for thousands of people.”

White House’s Office of Management and Budget is considering 145 new regulations and other policy changes they could enact before Biden’s inauguration - rules that will be challenging to undo once they are finalized. Critics and supporters of the administration say they expect a final burst of regulations to be finalized in the weeks before Jan. 20.

The rules under development include policies that the incoming Biden administration would probably oppose, such as new caps on the length of foreign student visas; restrictions on the Environmental Protection Agency’s use of scientific research; limits on the EPA’s consideration of the benefits of regulating air pollutants; and a change that would make it easier for companies to treat workers as independent contractors, rather than employees with more robust wage protections.

Last week, both Secretary of State Mike Pompeo and White House trade adviser Peter Navarro said they’re preparing for a second Trump term. “There will be a smooth transition to a second Trump administration,” Pompeo said during a news conference Tuesday afternoon (clip). Pompeo then doubled down on Fox News (clip). “We are moving forward here at the White House under the assumption there will be a second Trump term,” Navarro said on Fox Business Friday (clip).

DOJ interference

Attorney General William Barr stopped career prosecutors in DOJ’s Public Integrity Section from investigating whether President Trump broke any laws related to his conduct with Ukraine last year. The section was initially given the green light to pursue “a potentially explosive inquiry” into Trump, but after the Senate acquitted the president during impeachment proceedings, Barr sent the case to the U.S. attorney’s office in Brooklyn.
Prosecutors in DOJ’s Public Integrity Section were also prevented from bringing charges against former interior secretary Ryan Zinke by political appointees atop the Justice Department. Deputy Attorney General Jeffrey Rosen told prosecutors that they needed to gather more evidence and refine the case against Zinke for lying to Interior investigators.

• The investigation into Zinke stemmed from his decision to block two Native American tribes—the Mashantucket Pequot and Mohegan—from opening a casino in Connecticut. Zinke’s office had been lobbied heavily by MGM Resorts International, which had been planning to open its own casino very close to where the tribes intended to break ground.

Sixteen assistant U.S. attorneys specially assigned to monitor malfeasance in the 2020 election urged Barr on Friday to rescind his memo allowing election-fraud investigations before results are certified. "It was developed and announced without consulting non-partisan career professionals in the field and at the Department. Finally, the timing of the Memorandum's release thrusts career prosecutors into partisan politics," the prosecutors wrote.
An internal Justice Department investigation found that federal prosecutors who oversaw a controversial non-prosecution deal with Jeffrey Epstein in 2008 exercised “poor judgment” but did not break the law. “They just say he used poor judgment, and that's their way of basically letting everyone off the hook while offering some sort of an olive branch to the victims that we acknowledge weren't treated perfectly,” said Brad Edwards, who sued the DOJ in 2008 on behalf of Epstein accusers.

Immigration news

Eastern District of New York Judge Nicholas Garaufis (Clinton-appointee) ruled that Chad Wolf was not legally serving as acting Homeland Security secretary when he signed rules limiting DACA program applications and renewals. Therefore, in a win for Dreamers and immigration activists, Garaufis said the changes were invalid.

The judge described an illegitimate shuffling of leadership chairs at the Department of Homeland Security, the agency responsible for immigration enforcement, for the predicament of Wolf's leadership and that of his predecessor, Kevin McAleenan.
"Based on the plain text of the operative order of succession," Garaufis wrote in the Saturday ruling, "neither Mr. McAleenan nor, in turn, Mr. Wolf, possessed statutory authority to serve as Acting Secretary. Therefore the Wolf Memorandum was not an exercise of legal authority."

• There's a renewed push to get Chad Wolf confirmed as Homeland Security secretary -- a position in which he's been serving in an acting capacity for a yearr -- before Inauguration Day. In the past week, Homeland Security officials spoke to Senate Majority Leader Mitch McConnell's office about bringing the nomination to a floor vote in the coming weeks.

Within the last six months, as the coronavirus pandemic gripped the US, the Trump administration filed 75 lawsuits to seize private land along the US-Mexico border for the border wall." People right now are having to choose between their health and their homes," said Ricky Garza, a staff attorney at the Texas Civil Rights Project, a legal advocacy group.
After a series of price increases, Trump’s border project will cost taxpayers $20 million per mile of border fence. A review of federal spending data shows more than 200 contract modifications, at times awarded within just weeks or months after the original contracts, have increased the cost of the border wall project by billions of dollars since late 2017.
DHS has expelled unaccompanied immigrant children from the US border more than 13,000 times since March, using the coronavirus as an excuse to deny children their right to asylum. Previously, unaccompanied children were sent to government-run shelters as they attempted to pursue their asylum cases.
Migrant children from Central America are being expelled to Mexico, where they have no family connections. The expulsions not only put children in danger - the policy violates a diplomatic agreement with Mexico that only Mexican children and others who had adult supervision could be pushed back into Mexico after attempting to cross the border.
The House Judiciary Committee released a report on the Trump administration’s policy of separating families at the border, revealing that the federal agency that cares for migrant children was not told about the policy. The chaos contributed to the inability to later reunite parents and children.
The Trump administration is trying to deport several women who allege they were mistreated by a Georgia gynecologist at an immigration detention center. Hours after one detained woman spoke to federal investigators about forced hysterectomies at a Georgia detention center, she said ICE told her that it had lifted a hold on her deportation and she faced “imminent” removal. Six former patients who complained about Dr. Mahendra Amin had already been deported.
Northern District of Illinois Judge Gary Feinerman (Obama-appointee) blocked a key Trump administration policy that allowed officials to deny green cards to immigrants who might need public assistance Advocates who had feared that the policy would harm tens of thousands of poor people, particularly those affected by widespread job loss because of the coronavirus pandemic.

Miscellaneous

Microsoft said it has detected attempts by state-backed Russian and North Korean hackers to steal valuable data from leading pharmaceutical companies and vaccine researchers. “Among the targets, the majority are vaccine makers that have COVID-19 vaccines in various stages of clinical trials.”
Two census takers told The AP that their supervisors pressured them to enter false information into a computer system about homes they had not visited so they could close cases during the waning days of the once-a-decade national headcount.
The Supreme Court on Tuesday signaled it’s unlikely to tear down Obamacare over a Republican-backed lawsuit challenging the landmark health care law. Chief Justice John Roberts and Trump appointee Justice Brett Kavanaugh strongly questioned whether the elimination of the mandate penalty made the rest of the law invalid. Kavanaugh appeared to signal on several occasions that he favored leaving the rest of the law intact if the mandate is struck.
Texas Attorney General Ken Paxton (R) was sued last week by four whistleblowers claiming that he abused his office to benefit himself, a woman with whom he was said to have had an affair, and the wealthy donor who employs her before retaliating against the members of his staff who reported him to the FBI.
The Trump administration is rushing plans to auction drilling rights in the U.S. Arctic National Wildlife Refuge before the inauguration of Biden, who has vowed to block oil exploration in the rugged Alaska wilderness. Biden’s efforts could be complicated if the Trump administration sells drilling rights first. Formally issued oil and gas leases on federal land are government contracts that can’t be easily yanked.

If you are reporting about a casino, could you please try to include the following:

• Name of the casino
• Where it's located
• What time of day and is it a weekday or weekend?
• Max odds
• Field pays
• Side bets available (Repeater, ATS, Firebet)
• Are there dividers or how many are shooting per side

The more information we have, the better off we will be.
We all know that tables can change rapidly. I saw a table go from 25 to 15 to 100 at the Flamingo in the course of a few hours. I'll try to keep the mins what is reported the most and add other information in the comments like "found this table at $5 on graveyard shift" so people konw that isn't the norm
These tables can be a pain to maintain, so please provide as much information as possible. An informed roller is a beter roller.

OtherNV Casnio	WeekDay Min	WeekNight Min	WeekendMin	WeeknightMin	MaxOdds	Field Pay	Sidebet	Dividers/Per Side	Last Update	Comments
Wind Creek (Wetumpka, AL)	15	25	Unknown	Unknown	Unknown	Unknown	Unknown	4 to a table	7/31
Sycuan (San Diego, CA)	10	10	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
Barona (So Cal)	10	15	10	10-15	5X	2 Dub 3 Trip	Fire/Sharpshooter	2 per side	10/2	dealers managing bets for players. ($10 at times) - Digital table . $10, double the field with Hot Shooter Bet.
Harrahs (So Cal)	15-25	15-25	15-50	15-50	Unknown	Unknown	Unknown	No	7/31
Ameristar (Black Hawk, CO)	10	10	15	15	10X	Unknown	Unknown	Unknown	10/12	Colorado law, max bet $100
Golden Gates (Black Hawk, CO)	10	10	10	10	20X	Unknown	Unknown	Unknown	10/12	Colorado law, max bet $100
Monarch (Black Hawk, CO)	10	10	15	15	10X	Unknown	Unknown	Unknown	10/12	Colorado law, max bet $100
Saratoga (Black Hawk, CO)	10	10	10	10	20X	Unknown	Unknown	Unknown	10/12	Colorado law, max bet $100
The Lodge (Black Hawk, CO)	10	10	10	10	10X	Unknown	Unknown	Unknown	10/12	Colorado law, max bet $100
Foxwoods (CT)	10	10	Unknown	Unknown	Unknown	Unknown	Unknown	4/side	8/22
Mohegan (CT)	15-25	25	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
Harrington (DE)	15	15-25	25	25	10X	Unknown	Firebet	2/side	10/1
Rivers (Chicago, IL)	15	15	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	8/2
Blue Chip (Michigan City, IN)	5	10	Unknown	Unknown	Unknown	Unknown	ATS	Unknown		5 minimum prop bets, 5 min ATS bet.
Caesars Southern IN	10	15	15	25	Unknown	ATS & Fire	Unknown	Unknown	11/15
French Lick Resort (French Lick, IN)	15	15	25	25	Unknown	Unknown	Unknown	Unknown	8/5	Tables open at 11am and close at 3AM.
Harrah's Hooiser Park (Anderson, IN)	10	10	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
Hollywood Larenceburg (Larenceburg, IN)	10	10	Unknown	Unknown	Sharp/Lucky Shooter	Unknown	Unknown	4/side	11/15
Indiana Grand (IN)	10	15	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	No
Hollywood casino Lawrenceburg (IN)	10-15	10 -15	Unknown	Unknown	Unknown	Unknown	Unknown	Rivers (Chcago, IL)	10	15
Belle (Baton Rogue, LA)	5	10	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	one half sized table sometimes they open the big one. $5 small table and $10 big late at night
Hollywood (Baton Rogue, LA)	5	10	Unknown	15		Unknown	Unknown	Unknown	7/24
L’auberge (Baton Rogue,LA)	15	15	Unknown	Unknown	Unknown	Unknown	Unknown	No	8/2
L’auberge (Lake Charles,LA)	15	15	Unknown	Unknown	Unknown	Unknown	Unknown	No	8/2
El Dorado (Shreveport, LA)	10	10	10	10	100X	Unknown	Unknown	Unknown	8/17
Horseshoe (Shreveport, LA) 15	15	15	15	Unknown	Unknown	Unknown	Unknown	Unknown	8/17
Margaritaville (Shreveport, LA) 15	15	15	15	Unknown	Unknown	Unknown	Unknown	Unknown	8/17
Sams Town (Shreveport, LA)	10	10	10	10	20X	Unknown	Unknown	Unknown	10/10
Ocean Downs (MD)	10	15		Unknown	Unknown	Unknown	Unknown	Unknown	8/17
Maryland Live (MD)	25	50	50	100	Unknown	Unknown	Unknown	Yes, 4 per side	9/6	Electronic craps 15 min
MGM @ National Harbor	50-100	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	Yes		No bubble craps or low roller options.
Firekeepers (Battle Creek, MI)	10	15+	15	25	Unknown	Unknown	Unknown	No	8/17	$3 Bubble Craps.
Four Winds Casino (New Buffalo, MI)	15	15	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown		Digital craps table 5$ min
Gun Lake (Wayland, MI)	10	15	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	No	No
MGM Grand Detroit (Detroit, MI)	15	25	unknown	unknown	Unknown	Unknown	Unknown	Yes
Turtle Creek (Traverse City, MI)	5	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
Soaring Eagle (Mt Pleasant, MI)	10	15	Unknown	Unknown	Unknown	Unknown	Unknown	Yes, 5 per side
Hollywood Casino, Maryland Heights (St Louis) MO	15	15	Unknown	Unknown	Unknown	Unknown	Unknown	4 per side
River City (St. Louis, MS)	20	20	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown 4 players per side		You have to have at least a $20 bet for every throw to "hold your spot"
Beau Rivage (Biloxi, MS)	25	25	25	25	unknown	Unknown	Unknown	Unknown	10/18	3 tables
Boomtown (Biloxi, MS)	10	10	Unknown	15	10X	Unknown	Unknown	Unknown	10/10	1 table
Hard Rock (Biloxi, MS)	25	25	25	25	Unknown	Unknown	Unknown	Unknown	Updated 9/4
IP (Biloxi, MS)	25	25	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
Scarlett Pearl (Biloxi, MS)	15	25	Unknown	Unknown	Unknown	Unknown	Unknown	No
The Palace Biloxi, MS)	10	15	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
Golden Spike (Tunica, MS)	10	15	15	25	Unknown	Unknown	Unknown	Unknown	10/27
Horseshoe (Tunica, MS)	10	15	15	25	Unknown	Unknown	Unknown	Unknown	10/27
Treasure Bay (Biloxi, MS)	10	10	10	10	10X	Unknown	Unknown	Unknown	10/10
Harrah’s Cherokee & Murphy	15	15	Unknown	Unknown	Unknown	Unknown	Unknown	No	Unknown
Harrahs River Valley (Murphy, NC)	25	25	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
Ballys (AC, NJ)	10	15	10	10-25	Unknown	Unknown	Unknown	Yes	9/22
Caesars (AC, NJ)	15	15	Unknown	15-25	Unknown	Unknown	Unknown	Unknown	7/29
Harrahs (AC, NJ)	15	15	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	7/29
Hard Rock (AC, NJ	15	25	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	7/29
Resorts (AC, NJ)	15	25	Unknown	15	Unknown	Unknown	Unknown	Yes	7/29
Ocean (AC, NJ)	10	15	10	15-25	Unknown	Unknown	Unknown	Yes, 4 per side	9/4
Buffalo Creek (NY)	15	25	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
Seneca Niagra (NY)	10	15	15	25	Unknown	Unknown	Unknown	No	8/22
Jack/Harrah's (Cincinnati, OH)	25	25	25	25	Unknown	Unknown	Unknown	Unknown	Unknown
Cocktaw (Durant, OK)	10	Unknown	10	Unknown	Unknown	Unknown	Unknown	Unknown	8/22
Winstar World Casino (Thackerville, OK)	5	5	Unknown	Unknown	3x/4x/5x	Unknown	Unknown	Unknown	10/10
Hollywood (Columbus, OH)	10-15	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
Hollywood (Grantville, PA)	15	25	Unknown Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
Harrah's Philly (PA)	Unknown	Unknown	15	25	Unknown	Unknown	Unknown	Unknown	8/10
Meadows (PA)	10	10	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	9/4
Mohegan Sun (PA)	Unknown	Unknown	25-50	Unknown	Unknown	Unknown	Unknown	Unknown	8/3
Rivers Casino Philly (Philadelphia, PA)	Unknown	15-25	Unknown	Unknown	Unknown	Double field	Unknown	Unknown	10/9
Seneca Allegheny (PA)	5	5	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	9/4
Windcreek (PA)	10	10	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
Mount airy (Scotrun, PA)	10	15	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	10/2
Valley Forge (PA)	Unknown	10	25	Unknown	Unknown	Unknown	Unknown	Unknown	9/12
Parx (Bensalem, PA)	15	25	15	15	Unknown	Unknown	Unknown	Yes, 3 per side	8/22
Mardi Gras (Nitro, WV)	Unknown	Unknown	15	Unknown	Unknown	Unknown	Unknown	Unknown	7/28	Usually open on weekends

Part 1. It's getting buried so I figured we would make a new one.
Part 2
Part 3
Part 4

It was getting really tedious to edit a post with over 100 casinos in it. So I'm breaking it up to Nevada casinos and non-Nevada casinos.
If you are reporting about a casino, could you please try to include the following:

• Name of the casino
• Where it's located
• What time of day and is it a weekday or weekend?
• Max odds
• Field pays
• Side bets available (Repeater, ATS, Firebet)
• Are there dividers or how many are shooting per side

The more information we have, the better off we will be.
We all know that tables can change rapidly. I saw a table go from 25 to 15 to 100 at the Flamingo in the course of a few hours. I'll try to keep the mins what is reported the most and add other information in the comments like "found this table at $5 on graveyard shift" so people konw that isn't the norm
These tables can be a pain to maintain, so please provide as much information as possible. An informed roller is a beter roller.

Vegas Strip Casnio	WeekDay Min	WeekNight Min	WeekendMin	WeeknightMin	MaxOdds	Field Pay	Sidebet	Dividers/Per Side	Last Update	Comments
Aria	25	25	25	25	Unknown	Unknown	Unknown	Unknown	10/27
Ballys	10	15	10	Unknown	Unknown	Unknown	Unknown	No	9/3
Bellagio	15	25	25	50	Unknown	Unknown	Unknown	Yes	9/3
Caesars	25	25-50	Unknown	Unknown	Unknown	Unknown	Unknown	No	8/25
Cosmo	25-50	50-100	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	8/22
Cromwell	10	10	15	15	100X	Unknown	ATS	Unknown	11/24
Encore	10	10	10	10	Unknown	Unknown	Unknown	Yes, on some tables	8/12
Excalibur	10	10	10	15	3x4x5x	Unknown	Unknown	Unknown	11/24	crapless is usually $10. Bubble craps $5
Flamingo	10-15	15-25	Unknown	25	Unknown	Unknown	Unknown	Unknown	9/29	$100 table at times.
Harrah's	15	25	25	25	Unknown	Unknown	Unknown	No	8/22
Linq	15	15	Unknown	25	Unknown	Unknown	Unknown	Unknown	No	8/22
Luxor	10	10	15	15	3x4x5x	Unknown	Unknown	Unknown	Unknown	Updated 9/13
Mandalay Bay	15	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
MGM Grand	10	25	Unknown	Unknown	Unknown	Unknown	Unknown	Yes	Unkown
Mirage	15	25	Unknown	Unknown Unknown	Unknown	Unknown	Unknown	Yes	9/29
NY/NY	15	15-25	15	15-25	Unknown	Unknown	Unknown	Yes	10/27
Osheas	Unknown	15	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
Paris	15	15	15	25	Unknown	Unknown	Unknown	No	11/9
Park MGM	10	15	15	15	Unknown	Unknown	Unknown	Unknown	11/6
Sahara	5	10	10	10	Unknown	Unknown	Unknown	Unknown	8/15
Strat	10	10	10	25	10X	Unknown	Unknown	No	11/24
Treasure Island	15	15	15	15	Unknown	Unknown	Unknown	No	9/4
Tropicana	10	10	Unknown	Unknown	Unknown	Unknown	Unknown	No	11/24
Venetian	25	25	Unknown	Unknown	Unknown	Unknown	Unknown	No	8/22
Wynn	10	10	10	10	Unknown	Unknown	Unknown	Yes, on some tables	10/1

Downtown	WeekDay Min	WeekNight Min	WeekendMin	WeeknightMin	MaxOdds	Field Pay	Sidebet	Dividers/Per Side	Last Update	Comments
Binions	5	10	5	10	5X	Unknown	None	Unknown	11/14	Binions had $5 table several times (opens at 10)
California	10	10	10	10	2X	Unknown	None	Unknown	10/27	Tables open at 11AM
Circa	15	25	15	25	3/4/5X	Unknown	Unknown	Unknown	11/2	$10 tables in the mornings have been reported.
The D	15	15	15	15-25	10X	Unknown	ATS	No glass	Updated 9/4
Downtown Grand	10	10	10	Unknown	10X	Unknown	Unknown	Unknown	11/14	Table opens at noon.
El Cortez	10	10	10	10	10X	Unknown	None	Yes, some tables	9/4
Jerrys Nugget	3	3	3	3	Unknown	Unknown	ATS	3/None	10/27
Four Queens	5	10	5	10	5X	Unknown	Unknown	No	11/14	$5 tables can be found on some days
Fremont	10	10	10	Unknown	2X	None	Unknown	No	8/10
Golden Gate	10-15	15	15	Unknown	10X	Unknown	ATS	No	8/28	(GG has been 15 some mornings dropping to 10 later in the day)
Golden Nugget	10-15	10	Unknown	3/4/5X	Unknown	Unknown	Unknown	No	8/18	$15 with one table open on 8/18
Plaza	10	10	Unknown	Unknown	10X	Unknown	None	No	9/4

OffStrip Casnio	WeekDay Min	WeekNight Min	WeekendMin	WeeknightMin	MaxOdds	Field Pay	Sidebet	Dividers/Per Side	Last Update	Comments
Aliante	10	10	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
Boulder Station	10	10	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
Cannery	5	5	5	Unknown	Unknown	Unknown	Firebet	4 per side	8/31
Ellis Island	5	5	5	5	Unknown	Unknown	Unknown	Unknown	8/17	Craps table opens up at 10am and its 5 dollars 90% of the time
Gold Coast	10	10	10	Unknown	Unknown	Unknown	Unknown	No	9/16
Green Valley Ranch	10	10	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
M Resort	10	10	10	10	3x4x5x	Unknown	Unknown	No 3/side	11/24
The Orleans	10	15	10	15	Unknown	Unknown	Unknown	No	9/16
Palace Station	10	10	10	Unknown	Unknown		ATS And Firebet	Unknown	9/17
Red Rock	10	15	15	Unknown	Unknown	Unknown	Unknown	Unknown	8/14
Sahara	5	5	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown	11/24
Sams Town	15	15	Unknown	Unknown	Unknown	Unknown	Unknown	No	8/15	1 table
South Point	5	5	5	10	2X	Unknown	None	No	10/27
Strat	5	10	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
Suncoast	10	10	Unknown	Unknown	Unknown	Unknown	Unknown	No	10/6
Sunset Station	5	5	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
Westgate			15	Unknown	Unknown	Unknown	Unknown	Unknown	8/24

OtherNV Casnio	WeekDay Min	WeekNight Min	WeekendMin	WeeknightMin	MaxOdds	Field Pay	Sidebet	Dividers/Per Side	Last Update	Comments
Cactus Pete's (Jackpot)	5	5	5	5	Unknown	Unknown	Unknown	No	9/29
Aquariums (Laughlin)	5	5	10	10	Unknown	Unknown	ATS	No	9/29
Edgewater (Laughlin)	10	10	10	10	Unknown	Unknown	Unknown	Unknown	9/29
Gold Nugget (Laughlin)	5	5	10	10	Unknown	Unknown	Unknown	No	9/29	Opened at noon
Harrahs (Laughlin)	10	10	10	10	Unknown	Unknown	Unknown	No	9/29
Tropicana (Laughlin)	10	10	10	10	Unknown	Unknown	Unknown	Unknown	9/29	Opened at 6PM on weekeday
Atlantis (Reno)	5/10	5/10	Unknown	Unknown	Unknown	Unknown	SharpShooter	Unknown	9/29	3 tables on weekends
Cal Neva (Reno)	5	5	10	Unknown	Unknown	Unknown	ATS	Unknown	9/12
Eldorado (Reno)	5	10	10	25	Unknown	Unknown	Fire	Unknown	9/12
Grand Sierra (Reno)	15	15-25	15	25	Unknown	Unknown	ATS	Unknown	9/29
The Nuggett (Reno)	5	5	5	5	Unknown	Unknown	Fire	Unknown	8/22
Peppermill (Reno)	5	5	10	10	Unknown	Unknown	none	Unknown		3 craps tables
Sands (Reno)	5	5	5	5	Unknown	Unknown	none	Unknown	8/22
Silver Legacy (Reno)	10	25	Unknown	Unknown	Unknown	Unknown	Fire	Unknown
Western Village (Reno)	1	1	1	1	Unknown	Unknown	None	Unknown	8/22
Hard Rock (Tahoe)	5	5	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
Harrahs (Tahoe)	10	10	25	25	ATS	Unknown	Unknown	Unknown	10/14
Harveys (Tahoe)	10	10	15	15	ATS and Fire	Unknown	Unknown	Unknown	10/14
Montbleu (Tahoe)	10	15	Unknown	Unknown	Unknown	Unknown	Unknown	Unknown
Nugget (Wendover)	5	5	5	5		Unknown	Unknown	Unknown	Unknown	7/31
Peppermill (Wendover)	5	5	10	10	Unknown	Unknown	Unknown	Unknown	7/31
Rainbow (Wendover)	5	5	10	10	Unknown	Unknown	Unknown	Unknown	7/31

Part 1. It's getting buried so I figured we would make a new one.
Part 2
Part 3
Part 4

Before the pandemic I was a regular poker room patron at MGM National Harbor. They shut down for months but just recently reopened, and more recently opened their poker room back up to the general public.
Now before the pandemic, MGM National Harbor was always packed pretty much 24/7. It’s one of their newer properties and definitely the nicest casino in the DMV area (only other options locally are shitty and older Maryland LIVE and some places in West Virginia you don’t want to go to).
I arrived there last night at 9 PM, which normally would be prime time. Definitely not hoppin’ like it used to be. High roller table games were mostly empty. The slots were operating at maybe 50% max capacity because every other one was turned off to allow distance between the players, but it was very noticeable that even with the reduced number operating most were not being used.
They installed hand washing stations throughout the property around all the games but honestly I barely saw anyone using them which was not good. Face masks are mandatory, but they make you pull down your mask when you enter the casino area and take a picture of your face. All dealers for table games and poker wear plastic face shields. There are plexiglass dividers between dealers and players on most table games, but the side effect of that is definitely less players per table than normal. Spectators are no longer allowed to hang around, you’re only allowed to be at the table if you’re playing. The lack of spectators will have a dampening effect on the enthusiasm of players at certain table games. In fact, the whole energy of the casino was low. Imagine playing craps with no spectators.
Didn’t seem like they could be selling as much alcohol, the lobby and casino bars had earlier closing hours and at 9 PM on a Saturday I was able to walk up to any of the open bars and get a drink immediately, no long lines like the good old days.
The only section of the casino that was more active than usual was the race book which was odd because usually that’s only at half capacity at best when I’ve been in the past.
As for my poker experience, it was interesting. They removed about 25% of the tables they used to have on the floor to allow for distancing, and it’s now maximum 7 players to a table instead of 9. You do the math, they are definitely not making nearly as much off the poker room as they used to be able to. Plus, with 7 players instead of 9 and the lengthy swap out process for players who get knocked out (an attendant has to come and sanitize the seat for you and it took a long time) there were more hands than usual that were played with a reduced rake because there were less than 5 players active.
On top of that, because of the reduced seat capacity the wait list for the 1-3 tables (the most popular) took hella long and people were giving up on the wait and leaving. Also it was very apparent that the higher blind tables were much less in demand, they barely had any waits and that would be unheard of pre-pandemic. That means that the poker players showing up there intend to put less money on the table now.
The poker playing experience is still good if it’s what you like, I was able to enjoy myself despite all the plexiglass alienation. However I don’t know how long they can run this poker room without a COVID-19 case eventually being traced to it, because despite all the effort of distancing and sanitization, they still don’t have a good solution for keeping the chips themselves clean. Unless you neurotically sanitize your hands every time you rake chips, which I guess you could but most people weren’t/won’t, you’re at risk. I played for at least three hours and never saw any type of sanitation of the chips. The only solution I can think for this would be if you had contactless betting where you are separated from your stack, you verbalize your bets and the dealer moves everybody’s chips for them. That would be a big hassle for the dealer and I don’t think players would like it at all but I don’t know how else you could otherwise reduce that risk.
TL;DR - I have no MGM position and don’t intend to open one but I think there’s going to be a rude awakening when ER comes around because people have been piling back into MGM like everything is back to normal. Just because MGM has reopened its properties does not mean it’s anything like it was before. They are operating with many handicaps that will make it literally impossible to achieve anything near pre-pandemic earnings, and this is not going to change any time soon. I also think it’s highly likely they will run into trouble when a COVID-19 case is officially traced to their properties from a gamer that handled chips.

TL/DR: If I land in Vegas and go to a casino, buy in for $10,000 and play $100 units. How likely will I be able to get a comp room? Preferably a MGM property.
Additional info.
Numbers: $10,000 buy in, $100 units, 1-(3-5) bet spread. I plan on running about $400 bets right when I sit down just until the pit boss turns around ( So first 2-5 hands hopfully) then down to $100 hands. Would like to sit at a $100 minmum table as well.
Why a repeated question?: All the post I found say only people betting big money... What's big money? Or people saying they are betting $10 ect.. One that was relatble was from 6 years ago as well. not sure what all has changed
Goal: Not trying to win cash. But wanna make profit off of comps. If I lose 1k over the week but get a few hotel nights and free food and maybe a show, and get to play blackjack for hours each day I would consider it a success and be extremly happy with that.
Situation: Planning a 2 week Vegas trip after covid. Running up LP's in myvegas apps. (300k currently) and plan on using those for the room for the first few nights in Vegas. I am not trying to make money or increase my bank roll, I plan on tipping and I would like to try to make my profits in comps.
Previous Experience: 6 years ago was stationed in Cali. Learned to count cards and made 5k profit over a month time frame at a small local casino so only thing you can be comped was food and drinks. I was never backed off, but near the end of my stay everytime I sat down additional security will show up and stand by the table. Also the pit boss was constantly talking to me and offering me food when the deck got hot also would switch dealers to this nice passive aggressive Asian female dealer who I know could count and dealt extremely fast where people would question what cards the had before swiping them away on a bust. So I am fairly confident I was counting correctly and not pure luck. Left cali haven’t played since. I have freshened up on my basic strategy/deviations and running counting drills again, will have a few months/ hopefully not a year to be ready.
​
Edit: Contact Host, ask pitboss what is required for specific comps.

7/26 WEEKLY WATCHLIST
[P.S. Only enter positions you feel the most comfortable with. Your money is your soldier only send him into the battle you think you'll win. Some of these I have taken positions. Some I am looking to take positions. I've posted how many shares I own of what multiple times ]
PENNIES [💎-Long time gold][⁉️-Could go both ways][Rocket emoji] - I think this is gonna shoot up][🔥-This imo is gonna be a fire stock to make money off of just dont get dumped on][⚠️-Already ran a bit be careful
💸PENNYS💸
$CHFS - Support at $0.62 & $0.53. Covid play. Dialysis equipment short on supply. Earning August 10th. Most shareholders at profits which is scary.⚠️[Rocket emoji]
$BOXL - Online schools arn't all going to be using Zoom though for their school programs. Already got 1 contract. More schools closing. RSI looking better now on the daily chart. Could see a run up especially with PR. I expect some type of PR this week.🔥⚠️[Rocket emoji]
$LPCN - FDA Approval Aug 28th 💎
$YVR - Already ran a slight amount AH. I can forsee this hitting almost $3 honestly. They design Videogames CGI cinamatics such as SWTOR, Mortal combat, Battlefront etc. Ran than dumped all AH still watching this for a play🔥[Rocket emoji]
$CHEK - 70% of shareholders at a lose. Mad support at $0.53 area. above $0.61 I'd be super bullish for a nice run.🔥[Rocket emoji]
$BIOC - Insider buys 7/14 of 20k shares. Bullish uptrend. Decent support at $0.68, $0.63 $0.60. Resistance at $0.76 than $0.80. July 29th VOTE ON RESPLIT!! DEC 7th until for compliance. So decent amount of time still. 6/25 Golden Triangle crossed! I'm bullish AF $0.72breaks $0.80 Maybe $1 [Chart if you wanna see just ask] 🔥[Rocket emoji]
$MARA - Decent support at $0.90. Massive support at the $0.80 range. Looking for a bitcoin sympothy run🔥[Rocket emoji]
$SXTC - 90% Shareholders breakeven or at loss. Mass support at $0.40-$0.44. I'd be bullish at $0.46. Low float🔥[Rocket emoji]
$GNUS - IOS app just released. This ticker tends to overreact to news than dump off. I've been just selling covered calls and rolling my money over essesstially making my shares free💎
$ENZ- Has FDA approval noone else has this test. monopoly. Schools testing. State colleges already buying them.REVENUE UP 121% IN 2019. Medium debt.
$RRD - Conference coming up. This has a trend of running up to around $2 around conference times than DUMPING.💎[Rocket emoji]
$MYT - 95% Shareholders at loss or breakeven. First US store just opened. Trial opening July 15th. Fully opened in August. The chart is bearish. Support is $0.47-$0.49, $0.41. 2Hou4 hou1D screams oversold. MACD 4 Hour setting up. 1 hr MACD already setup 🔥[Rocket emoji]
$IDEX - Hold until earnings week where this rockets off to the motherland💎
$DLPN - Usually swing this from $0.88-$0.93 back to $1 range. Only scare thing is they might split due to compliance💎[Rocket emoji]
💰HONORABLE MENTIONS💰 : $VERB - [Offering at $1.10 good around that price]$NAK $UAVS $DMPI $GAU $PZG
💰Non-Pennys💰
$MGM - Anything under $18 is a steal. Anything around $16 is GOLD. MGM is 1/3 casinos with liscensing in Japan. By 2030 this hsould be a $40-$45 ticker💎
$CZR aka $ERI - COME BACK KING! Anything under $40 seems to be 100% safe. $35-$37.50 is my snag it all price. Biggest casino/hotel chain in the WORLD after buying out caesars!!! Should be $70-$100 ticker by 2030-2035💎
$O - MONTHLY dividend. [5% yearly] GREAT LONG term investment. REITS are beat down. Can't see this getting TOO much lower💎
$PETS - Super oversold. Earnings actually were good? Dividend upcoming 7/30. I expect an overcorrection back upwards
$CARS - Bullish above $6.20
$SIRI - Bullish above $5.95. $6+ it runs
$JMIA - Monthly MACD Setup so perfectly for this, Has been running lately but no where near pre-rona levels. Offering at $8.59 BUT its a shelf offering which means they don't have to sell it currently. This could drop down to that or continue its run until the offering block is dropped.
$NFLX - Super oversold. IMO great longterm hold.💎
$LOW - Holding under earnings. This beast just doesn't seem to stop
$CAPR - Support $6.44 $5.67 [free fall if it dumps. 50% shareholders break even or at a loss. Super revenue coming from covid. FDA Approval would bring the market cap from 100m to 1b. [10x increase!]🔥🚀⚠️
$GNCA - July 30th cancer news. About 50% break even or at a loss. Ran hard af already 🔥🚀⚠️
🔮BET AGAINST THE MARKET🔮 SPXS - 3X Inverse of SPY [The overall market] Spy +1% SPXS -3%. Spy -3% SPXS +9%
💚👍 Hope the week is green for everyone and mass money is in your future!👍💚 [Figured I'd throw up a WATCHLIST for the few people who still care ]

Good luck today guys, hope everyone makes some tendies

Edit 8:30PM Thanks for the love and awards guys, hope everyone ended the week off positive, enjoy your weekend.

Of note for Airlines (LUV, DAL, AAL, UAL), the Airlines for Americas trade association says the industry needs “immediate financial assistance” to protect the 11mln jobs it represents.
Of note for Banks (JPM, C, MS, BAC, GS), the Fed is encouraged by a notable increase in discount window borrowing as banks show a willingness to use the window as a funding source to support the flow of credit to households and businesses.
Of note for Car Rental Services (HTZ, CAR), both Hertz and Avis Budget Corp have requested aid from the US government.

Dow Jones

Apple Inc. (AAPL) supply chain is reportedly still facing supply disruptions even as China recovers due to factory closures of suppliers in Malaysia. Elsewhere, it has limited the number of purchases on its iPhones to two per customer in the US and China, according to Canalys.
Boeing Company (BA) is reportedly leaning towards a temporary halt of operations at its twin-aisle jetliner factories due to the spread of the coronavirus, according to people familiar with the matter, in a similar move to Airbus (AIR FP).
Johnson & Johnson (JNJ) Global Supply Chain Officer Wengel announced its supply chain is currently holding steady and meeting patient needs.
Walmart (WMT) announced it is planning to give special cash bonuses for hourly associates for their work during the current conditions with full-time associates receiving USD 300 and part-time associates receiving USD 150, which will equate to USD 365mln. WMT is to also accelerate its next bonus for store, club and supply chain associates which will equate to USD 180mln, overall it will equate to USD 550mln, the co. says. WMT is to also hire over 150k hourly employees as the number of shoppers increases.

Nasdaq 100

Amazon.com Inc. (AMZN)– Some sellers state its decision to stop receiving non-essential inventory in response to the coronavirus pandemic could limit sales they need to make payments on its loans from Amazon.
Tesla (TSLA) announced it decided to temporarily suspend production at its Fremont, California factory and NY Factory after March 23rd. Elsewhere, CEO Musk announced his factories are working on ventilators to address a potential shortage.
United Continental Holdings (UAL) – Apollo Global Management (APO) has reportedly purchased part of the airlines USD 2bln loan from a group of banks, according to people familiar with the matter.

S&P 500

Accenture plc (ACN) had its PT cut at a number of brokers, however, they were positive on its ability to continue through the coronavirus crisis.
AFLAC Inc (AFL) American Family Life Assurance of Columbus and New York agreed to acquire Zurich North America's US corporate Life and Pensions. AFL expects the acquisition to be dilutive to 2020 adj. EPS by USD 0.02 to 0.03.
Altria Group Inc (MO) announced it is temporarily suspending operations at its Richmond manufacturing center.
Anthem Inc. (ANTM) announced it is offering up to 80 hours of paid emergency leave for qualifying needs, including if associates are experiencing coronavirus symptoms or for caring for young children whose school has been closed.
AT&T Inc. (T) announced it has cancelled is accelerates share repurchase programme of USD 4bln worth of stock, noting the impact of the coronavirus could be material although it cannot currently estimate the impact onto its financial or operational results.
Bank of America Corp (BAC) announced it is offering additional support for its consumer and small business clients in response to the coronavirus, where clients can request funds including overdraft fees, non-sufficient funds fees, and monthly maintenance fees through deposit accounts. Many customers can also request to defer any payments.
Carnival Corp. (CCL) preliminary Q1 20 (USD): EPS 0.22 (exp. 0.27), revenue 4.8bln (exp. 4.66bln); coronavirus resulted in a net loss of 0.23/shr.
Cintas Corporation (CTAS) Q3 20 (USD): Adj. EPS 2.16 (exp. 2.02), revenue 1.81bln (exp. 1.8bln), gross margin 45.5% (exp. 45.7%, prev. 44.9% Y/Y); announced it is not providing guidance for Q4 20 and it is suspending FY20 guidance due to uncertainty surrounding the coronavirus.
Coty, Inc (COTY) provided an update on the current situation: Expects Q3 20 revenue to fall approximately 20% like for like, with a meaningful impact on profit, it has also withdrawn FY20 guidance. It is recommending to the board that shareholders be given the option to receive up to 100% of their quarterly dividend in kind for the coming two quarters. Its largest shareholder JAB decided to fully repay the loan it used to finance the tender offer in 2019. It is taking initiatives to manufacture hand sanitizer. Notes activations on Amazon have seen US sales nearly double in recent weeks, as well as launching the Kylie skin-care Europe in upcoming weeks; it is also preparing for increased demand post coronavirus.
Danaher Corp. (DHR) announced the US FTC is on board with the acquisition of General Electric’s (GE) Life Sciences Biopharma Business. The closing of the deal is still subject to customary closing conditions as announced in the agreement, but DHR expects the deal to close on March 31st, 2020.
Ford Motor (F) announced it has plans to suspend production in Argentina and Brazil starting next week due to the coronavirus.
Kohl's Corp. (KSS) announced it is to close its stores nationwide through to at least April 1st, although customers will still be able to shop on its App. It also withdrew guidance for Q1 and FY20.
Mylan N.V. (MYL) announced it is increasing production of its malaria drug for potential use to combat the coronavirus.
Occidental Petroleum (OXY) is reportedly planning on naming its former CEO Stephen Chazen as its new chairman as it tries to improve amid weak demand and activism from Carl Icahn, according to WSJ citing people familiar with the matter.
Sysco Corp. (SYY) announced it will donate 2.5mln meals over the next four weeks as part of its response strategy to help against COVID-19. Elsewhere, it has withdrawn its three-year plan guidance due to the impact from the coronavirus.
Tiffany & Co. (TIF) Q4 19 (USD): Adj. EPS 1.80 (exp. 1.77), revenue 1.4bln (exp. 1.36bln); SSS +3%, SSS Ex-Hong Kong +5%, Gross Margin 63.3% (Prev. Y/Y 63.8%). Announced it will not be issuing FY20 guidance due to the pending merger with LVMH

Other

Crowdstrike (CRWD) Q4 19 (USD): Adj. EPS -0.02 (exp. -0.08), Revenue 152mln (exp. 137mln); FY21 Adj. EPS view -0.14 to -0.10 (exp. -0.18), revenue view 723-733mln (exp. 685mln)
Samsung (SSNLF) has reportedly been hit hard by Vietnam’s travel restrictions from South Korea, fueling concerns its Galaxy Note smartphones will fall behind schedule in its largest manufacturing hub outside South Korea
Teva (TEVA) announced it will be donating over 6mln doses of hydroxychloroquine sulfate tablets across the US to meet the urgent demand for the medicine as an investigational target to treat the coronavirus.

Additional US Equity Stories

Of note for casino names (MGM, CZR, WYNN, MLCO); Macau has halved its 2020 gaming revenue forecast due to the coronavirus and predicts a 56% fall from previous year to USD 16bln.
US Steel (X) Q1 20 (USD): Adj. EPS view -0.80 (exp. -0.84), EBITDA 30mln.
Coca Cola (KO) does not expect to meet its FY20 guidance, although does not foresee any near-term interruptions to its concentrate or beverage-based production. Meanwhile, it had its PT lowered at Deutsche Bank to USD 53/shr from USD 64/shr, although the desk reiterated its long-term buy rating.
Ross Stores (ROST) announced it is to temporarilty close all of its stores throughout the US due to the coronavirus.
Dollar Tree (DLTR) announced it is hiring 25,000 associates (both full and part time) to help across its stores in the US.
Synaptics Inc. (SYNA) downgraded to Underweight from Neutral at JP Morgan
Colgate Palmolive (CL) upgraded to Buy from Neutral at BofA
Accenture (CAN) upgraded to Buy from Neutral at MoffettNathansonMonster Beverage

https://turnto10.com/news/coronavirus/encore-boston-harbor-casino-plainridge-park-and-mgn-temporarily-closed
Several casinos across Massachusetts have temporarily been closed amid coronavirus concerns.
The Massachusetts Gaming Commission made the announcement on Saturday, noting that they unanimously voted to “a temporary suspension of operations” at Encore Boston Harbor in Everett, Plainridge Park Casino in Plainville, and MGM Springfield.
“An expeditious and orderly shutdown process is underway,” according to a statement from the MGC. “This decision will be re-evaluated in two weeks.”
The MGC previously announced that a patron at Encore Boston Harbor has subsequently tested positive for COVID-19.
The MGC said the person visited the casino on March 5, with the Commission becoming aware of the positive test on Thursday.
Health officials have been notified and are assessing the situation, according to the MGC.
"Encore has reported that this individual was present at the casino for one hour and had contact while there with a small number of individuals, currently determined to be seven," a statement noted. "Encore has reported that all of these individuals have been identified and alerted. DPH recommends that Encore continue its enhanced sanitation practices. Additionally, Encore has reported that, out of an abundance of caution, all identified individuals have agreed to self-quarantine measures."
The Boston Globe reported that the individual is Utah Jazz player Donovan Mitchell.