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The £1.20 offer may be a good deal for some shareholders who purchased when the company was in dire straights early 2023 but I suspect many will be underwater at this price. Why would you agree to a loss of capital??
If the major share holder rejected the £1.56 offer why would they accept a £1.20 offer. In addition, interest rates will soon be falling. The Governor of the BoE stated that his wish was to reduce interest rates well before the 2 percent target limit was approached. Honestly, the £1.20 offer will be rejected because the board has now done all the hard yards and things are now getting better.
Up and down like the proverbial tarts snickers , Shes seen the light , only way is up , I'm filiing my boots
What was the share price at the time of the £1.56 bid? More than the 92p ? Factor in further gambling commission rules and the massive debt burden and £1.2 per share looks a good deal for shareholders.
The Times Article is not entirley accurate and Canaccord Genuity input lacks some basic research on the shareholders are.The £501 million offer would be around £1.20 per share. The article said Playtech off was £700 million would was £1.56 per share. The board refused that at the time as low value and was rejected by the mayority shareholder.
On the debt of £1.7 Billion that was covered in Decemeber2023/January 2024 as being around £1.5 Billion. Overall the Article in the Times seems off the mark.
The Times today;
The owner of William Hill was targeted by Playtech, the gambling technology provider, last year with an offer of £700 million. DraftKings, an American sports betting group, also has approached 888’s shareholders about a possible deal.
Graham Simpson, an analyst at Canaccord Genuity, has cited 888 in his annual list of the top ten bid targets among mid-sized companies. He said that companies usually became a target when existing shareholders had suffered through a painful period and that recent share price declines showed life had been “very painful” for 888. “An acquirer could very well take advantage of the market’s continuing apathy with an opportunistic, lowball offer,” he said.
Private equity suitors may be put off by 888’s debts of £1.7 billion, but a corporate combination may be on the cards, with peers banking premiums of 22.05 per cent. Could shareholders be bought out with £501 million? Simpson said: “The smart acquirer with a long view will be looking at it now while the share price is a busted flush.”
Nothing stupid about £8
That is 2x Revenue for 888 and that is what Kindred was recently sold for
Do you think Flutter is stupidly valued on a PE of 100 ?
Or is Draftkings overvalued on a PE of 1000 ?
The forecast PE for 888 is only 3
A bid of only £1.50 will just be rejected again, as will a bid of £2
Any bid over £2.50 will likely be accepted, but £2.50 will still undervalue the company by a significant amount
Stop dreaming about stupid figures like £8 or even £3 for that matter. £1.5 would more than reasonable, anything approaching £2 a massive win
When Playtech has already had a bid of £1.56 rejected by 888 for being far too low, and when Draftkings has also discussed a takeover of 888 at probably a far higher share for share price, it is fairly obvious that 888 will not remain independent for very much longer.
The only questions remaining really are will there be a bidding war involving multiple other players? and how much over £2 or £3 will Playtech or Draftkings have to bid?
The gambling industry continues to consolidate every month and there are not too many prime targets such as 888 and William Hill left to buy.
Kindred was the most recent takeover bid at a takeover price of 2x Revenue.
If 888 was to be taken over at a similar price then Playtech or Draftkings would have to pay about £8 per share.
so you’re saying if you used to have a position at man city liverpool ****nal etc but find yourself at mk dons you must be brilliant? whereas i say it proves you were never much use in the first place! ferguson, klopp wenger etc aren’t found managing exeter city. wh/88 are a run of the mill div 1 team, a million miles from the premier or championship. learn to accept this. meanwhile as i’ve said before, at the current price this share is a buy, just stop over ramping it.
To expand on my previous post on Management - as a wise Investor once said "“Over the years, many new rules and guidelines pertaining to board composition and duties have come into being. The bedrock challenge for directors, nevertheless, remains constant: Find and retain a talented CEO — who possesses integrity for sure, who will be devoted to the company for his/her business lifetime. Often that task is hard. When they get it right, they need to do little else.
Per Widerström's focus has been on his strong record and reputation in governance and compliance. Per Widerstrom has put a team together to which 888 Holdings Plc should deliver growth in new areas. The gaming industry is not a dying industry as someone said but research from different sources shows it is set to grow in the coming years.
All information has been drawn from the 888 Holdings website, Linkedin posts, Brokers views, and also news outlets across the World. I have covered 888 Holdings as an Investment for the medium to long term. I have posted some information on the company.
Ok I will bite a lesson on research-
Per Widerström has more than 17 years of experience in the online gaming industry and is former CEO of Europe-focused Fortuna Entertainment Group, Overall performance the company was very profitable.
Sean Wilkins has seventeen years of experience in CFO roles at both private and public companies.having most recently held the position of Group CFO of Superbet, a leading omni-channel betting and gaming business.
Ian Gallagher, previously product director at Flutter Entertainment.Also in the Product roles in gaming and egaming, as well as Casino Operations Manager.
There are others in future do some research
So with all these new faces in the boardroom where’s the evidence to describe them as having any talent? WH/888 are like a Premier league club related down to division 1 with an ever revolving door of new faces promising the glory days are returning, but face facts they aren’t. The anti gambling lobby are becoming more powerful by the day, subsequently the industry is slowly but surely dying out. For what it’s worth I would advise WH/888 as a very decent buy, as a buy out is looking a certainly. But don’t pretend the board have any talent in the betting industry because they don’t, they are simply there to get the best price on the sale and make themselves a few quid in the process
@ Newbie
Those who follow 888 know this is nothing new. A dip to pick up stop losses reverese a few hours later. We have risen 25% since the recent 79/80. Having lightened up on the recent rises and thought I had reduced my holding too much, will be readding here again on the drops.
1Hatcham do your research honestly. If you read there a new CEO, a new CFO, a new Chief Product Officer and so on. Just do basic research or read my posts for some background information on 888 Holdings . Your post History is not full of accurate information btw. William Hill has been bought twice over several years. If you want read July William Hill trade update on their Holdings.
Answering your point on "Lol. What on earth would make you come to that conclusion?" If you think 888 Holdings has not changed it backroom staff and at board room level I find your response puzzling lacking some common sense approach on research.
“The Board have excellent back room staff”. Lol. What on earth would make you come to that conclusion? Those that remain from 888 oversaw the purchase of WH for around 1.5 billion, around their market value at the time, currently a fraction of that. Those still there from WH oversaw a company that was number 1 on the high street, with the best, highest paid staff. They now have the lowest paid, most untrained staff and are the joke of the high street. Anything achieved is despite the incompetent senior management, not because of them.
Is this not on the back announcement today of £2 max spin for 18-25's and £5 for over 25's that kicks in September
Strange that we should lose nearly all the gains from the last two weeks in one day.....maybe we are going to hear some news
Well it seems a few stop loses been triggered across the board. Sometimes having a stop loss does help but from experience it does tend to course some discomfort.
I am looking forward to 26 March 2024 and see how CEO plan is put forward. The CEO has been busy travelling a lot in the past 6 weeks. Just remember the board have an excellent back room staff they have a lot of experience in the field. The basis of the plan is to get growth back , so increasing revenue on each quarter.
Topped up at a tad over 93p after trimming yesterday. I want to be fully on board when the world wakes up to the immense value here!
@ TDF re HEMO - No, I like POLB.
@LWHL
There will be another £1 party soon.
I am pretty surprised that it did not hold a quid...on the basis that I sold up the other day.
Right now, I seem to be on an inverse roll, but perhaps, for the first time in a while, I actually got a good (short term) read on this one. I simply felt it got a little overbought; looking for 89p/90p for a laddered return. If it does not happen, then GLA.
100p will be the new floor for the share price here before the inevitable takeover bid at about £2.50 comes from either Playtech or Draftkings
And even without a bid there will be a gradual increase to £2.50 as the eps increases over the next 2 years
Market screener has a consensus forecast eps of 25p and this gives a share price of £2.50 assuming a market average PE of 10
Bit gutted we didn't hold at the 100p....always tomorrow to get back above it and stay above it over the weekend.
Got in here a few weeks ago on the back of a Mary recommendation. Are you back in HEMO yet Mary. Tick Tock.