Summary

• High Roller maintains a 'hold' rating as current pricing near $10 reflects my base scenario valuation.
• ROLR's partnership with Crypto.com and LGM targets scalable, fee-based prediction market revenue, leveraging social-driven and repeat bettor audiences to reduce CAC.
• Revenue projections for FY 2030 range from $65 million to $75 million, with valuation scenarios spanning $8.25 to $14 per share depending on take rates and multiples.
• High Roller's asset-light, high-margin model could support buybacks, but market normalization and compressed take rates temper upside at current levels.

After all the tweaks to the High Roller (ROLR) story that sent the stock flying earlier in the year, it feels like a lot of folks walked away once it

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