The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Really can't work out how significant this is or how big a customer they are.
If it was serious surely the sp would have tanked.
The SP was low enough without this now
CALIPLAY: LAUNCHES LEGAL PROCEEDINGS AGAINST PLAYTECH IN
MEXICO
* CALIPLAY: CLAIM SEEKS ANNULMENT OF LEGAL RELATIONSHIP
BETWEEN
CALIPLAY, PLAYTECH, AND RELATED PARTIES CONTAINED IN VARIOUS
CONTRACTUAL AGREEMENTS
Interesting and useful posts, thanks all.
The US opening up is the catalyst for huge revenue growth and the company is well positioned. The HardRock deal looks good. Paying down 200m of debt is a positive sign and again the timing couldn't be better. No need to roll the debt into higher interest bonds and no need for short term borrowing is good news. Profit? Well it looks like they have had a clear out, not gone into the detail as yet but I would say we should be looking at revenues, profits and dividends all being re-rated in the next few days by analysts who will up their recommendations on the target price.
Any views? I like the company but it has had a few ups and downs over the last few years.
Oversold with general market conditions .
Bought yesterday 508 !!
If its good enough for Moi its good enough for me. I have followed his example and bought a large chunk to add for myself. No brainer in my opinion.
Just glanced at it and felt it was all quietly positive.
Taking an optimistic view, based on recent takeovers of B2B and B2C providers, Playtech takeover value would be around 6B EUR. The current valuation is 2.25B EUR. So IMHO we do have room for growth.
Some facts:
Neogames 2022 Financials:
Revenue 166M USD
EBITDA 11M USD
Net income -18M USD
Acquired for 1.2B USD by Aristocrats
Playtech 2022 Financials:
Revenue 1.6B EUR
EBITDA 405M EUR
Net income 160M EUR
If we leave out B2C (Snaitech), then PTEC B2B figures for 2022 are:
Revenue: 632M EUR
EBITDA: 160M EUR
Based on revenue, I would say the comparable B2B takeover value of PTEC is ca 4x value of Neogames, which is around 4.4B EUR
Then we can add the value of Snaitech around 2B EUR (comparable takeover of Sisal was 1.9B EUR).
Adding B2B and B2C value gives us PTEC valuation of ca 6B EUR.
From today´s news, we have a new non-exec directory from Hongkong. In the last private buyout attempt, CEO Weizer cooperated with TT Bond group from Hongkong. The share price is rising strongly. Coincidence? No, I think Asians can calculate too.
It stalled for a bit but it has moved up nicely in the last 6 weeks. There is value here and the market is recognising it, particularly in light of the gambling review which seems balanced enough not to scare the horses. There also remains a good chance of acquisition activity in this sector. Overall positive sentiment.
As always little posting activity when shares are rising steadily :)
Record results and yet the share price goes down-shocking market at present.
Final Results look good.
"Record Adjusted EBITDA of €405.6 million, up 28% vs. 2021."
2023 off to a good start according to the RNS.
700 shares via HL as a modest punt on a bid or better times ahead for PTEC
Interesting news, I intend to buy back in today.
Even in recessions people continue to gamble.
Buying shares in PTEC a gamble too!
We are continuing to evaluate business combination opportunities, including alternative opportunities with Caliente, Caliplay and Playtech...
https://www.casino.org/news/tekkorp-digital-needs-more-time-to-find-business-combination/
Well after rejecting a couple of takeovers now, ( bailed at £5.50 I think ?? may have been £7 I’d have to check though ) But with the pound through the floor and worth 35% less than may/ June the yanks can pick this up for a song , I’m starting to build my stake here day by day as this is oversold and a bargain in my eyes , I thought the results was good .
I spotted a couple of things on second glance, some ridiculously big write offs, one of circa €15m in Asia for bad debt and another chunky one for termination of an onerous contract of about €10m which frankly is not pleasing. The other thing was a bit of margin contract. Last thing was refinancing to come. But still, feel this is just getting taken down with the market. May dip toe in for a bounce, but unforgiving climate.
Puking of stock seems very risk-off and understandably so. Market was positive re earnings result before puking non stop... unless i missed smt on the fundamental side of things. But populist macro policies aint bolstering the case.
I swallowed 20% loss after the takeover collapsed, left a bitter taste. Few things annoyed me a lot: time taken in discussions and CEO involvement only for no deal, inside info for current shareholder and Odey somehow selling down before announcement, no divi, Caliente listing scrapped and not mentioned since. All this being said, the results seemed about ok to me so mildly surprised to see a dip of 10% on the day, still think it gets taken out for a lot of games played with this one, and in current climate market doesn't want that! When are the results ever really given on an non adjusted basis here too!
As it happened I sold my small stake a few days ago, pure luck.
The sp drop seems an over reaction when you consider this:
"This fall was mainly due to the EUR299.9 million of unrealised fair value gains on financial assets recognised in the prior period, with the current period fair value changes being only EUR48.5 million."
Accountancy jiggery pokery imo! PTEC turned over a decent set of results imo but the markets says otherwise.
Deutshce bank upgraded Playtech to buy.
New target 602p
According to LSE, the next trading update was meant to of been today?
The H1 update is tomorrow not in September
As a diversion from the interminable Takeover Tedium, shall we hazard some guesses as to whether the H1 trading statement in September will include commitment to a dividend (the first for 3 years) and if so in what amount? We might be thought to deserve something after all this stress!!