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Makes a change it is usually Lornes Fault...which is what I thought I had read at first glance!
Hold or sell I would like to think Big Jim has a firm grasp on the fair value and potential of Leap through his involvement with Webis.
Leap has matured and is the prime PF to sell. It is being used by major bookmakers and has possibly reached the end of the FFWD line. To achieve scale they need to generate funds within and I’ll happily bet it is the next to be sold.
For me the consideration of whether to hold Leap boils down to how much more mileage we can get from it. Being our largest stake by far it would be worth holding if the % returns over the next couple of years are as good as we can expect from other investments, but I suspect the growth momentum won't be as good as with a life science investment. I would be disappointed if we got anything less than £10 million for Leap.
I agree Snooty there is definitely risk in holding for more value that is not guaranteed to materialise. I was trying to make the point that Leap's value is not at saturation point as alluded to by wadnob.
If what you say is true then yes, it's a hold, but with risk attached; risk that such legislation will not be forthcoming, perhaps among others.
Judging from previous asset sales whilst I've been a FFWD holder, I'd say it's a toss-up whether our Board views such risk as acceptable or not, particularly in the light of emerging opportunities in the medicinal cannabis sector already identified, for which cash may be urgently required.
Hold or sell, as small retail shareholders, we have little influence on the Board's decision, but since we by definition are not privy to all the facts, for myself I am content to let events take their course.
This is because it's full value in the fast growing US market won't be realised couple of years.
For anyone unaware the repeal of PASPA (the legislation that made professional sports betting illegal) last year has resulted in a handful of States passing laws allowing online sportsbooks. These sportsbooks also offer the virtual sports betting that Leap specialises in. Currently virtual sports betting is only allowed in land based casinos (meaning punters can only bet on the premises). I think I am right in saying the only state that currently allows online virtual sports betting is New Jersey. Imagine what the value of Leap will be if other states follow suit especially the lucrative ones like Cali, Texas and New York.