International Game Systems (TPE:3293) in Fidelity International Small Cap Fund Q3 2024

Strong Performance Driven by Online Gaming Success

Apr 14, 2025

Summary

Investment rationale: Capitalizing on the growing online gaming market, particularly in social casino games.
Market positioning: Successful expansion in Southeast Asia and North America, with plans for Europe.
Risks and challenges: Potential regulatory changes and market saturation in key regions.
Recent performance: Stock gained 49% in Q3 2024, significantly boosting the fund's relative performance.
Future outlook: Continued growth expected from new licensing agreements and market expansion.

In the Fidelity International Small Cap Fund's Q3 2024 review, International Game Systems (TPE:3293, Financial) was highlighted as a standout performer. The Taiwan-based company has excelled in developing online games, particularly social casino games, which have longer lifecycles and strong revenue prospects. This success has been a significant driver of the stock's performance in 2024.

"Outsized exposure to International Game Systems proved most advantageous in terms of the fund's relative result the past three months. The Taiwan-based firm has been successful at developing various online games – especially social casino games – with longer lifecycles and strong revenue prospects." — David Jenkins, Fidelity International Small Cap Fund, Q3 2024 Fund Letter

Read full letter at gurufocus fidelity international small cap fund q3 2024 review 2024 Q3 page.

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