We would love to hear your thoughts about our site and services, please take our survey 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.
I had a look at the balance sheet and intangibles are noted as a measly $11,000. To an accountant out there what are the licences classed as on the balance sheet and what is the attributed value?
Was a billionaire
£86k into an AIM microcap? You must be a billionaire.
I've been contacting the company regularly about Arizona Downs especially after The Arizona Gaming Commission gave the current owners notice on removal of their licence for not planning to run any track meets in 2023, especially as the Board had said in their interims.
As previously announced, we have a contract to operate live racing at this facility with a planned start date of September 2023. At present, we are simply awaiting our license hearing from the Arizona Gaming Commission. We expect this to be completed no later than the end of March 2023, but will inform shareholders if these dates change. We see this as an important revenue earner in its own right, but also as support for our Cal Expo operations. In addition, it would provide us with extra leverage outside of California.
. This was their latest response - My apologies for delay. We will update all shareholders re AZ Downs and discussions with the AZGC as soon as we have something concrete from them.
In other words NOTHING IS HAPPENING - my £86k invested is now worth £40k
Just noted California announced it is now $32 billion in debt worse than anticipated due to the current economic climate. I can see there is no getting away from legalising online gambling as it is a quick and relatively painless fix for many of their woes. I just wish the process wasn’t so long winded, but on the basis markets are forward looking by 6 months maybe a crumb of hope to hold onto.
Maybe a wry smile rather than a happy one. Never like to hear when someone’s hard earned savings disappear in a public company trusted to deliver growth.
It is a shame WEB can’t meet its own promises regarding updates. As they say revenue is vanity, profits sanity. Revenue is high but expected in this industry but converting to profits seems beyond them.
I hold in hope as there is a deal here to be done but the silence is deafening.
Taser, Re you request for someone to cheer you up.
I bought in here about 6 years ago at around 6p. to the tune of 10k.
There you go, if that fails to raise a smile then I give up.
Anyone got anything positive to say here? I suppose in 2024 a renewed attempt at a break through with the California legislation will be on the cards but that seems a long way off.
The lack of concise and considered direction is worrying and I say that based on historical statements and accounts which seem to bare no relation to subsequent actions.
Someone cheer me up (preferably WEB board). Do a deal and we can all move on
Don’t understand the corporate strategy here any more.
Told in historical annual accounts investment required to update tech. Nothing happened.
Losing money each year. The value of the company is solely down to the intangible assets (licences) and each year told we will look at strategic alliances and opportunities.
No update on Arizona which were told we would be updated on if the end of March date didn’t occur.
Start creating value or sell up. At the moment the board are overseeing a loss making business, time for a step change.
As I say below this is the first time I have been out of web in 10 years. Still not tempted at 1.5 or so. The UK Government are looking to restrict gambling with a new set of restrictions. not sure how this will affect WEB if at all but not sure this is the time to buy any gambling stocks. WEB looks to be drifting and I will look to buy soon. I bought before at 1.25 to 1.40 so not far off (sold out at 2.20 as below). Web has always been a winner for me and I am sure it will be again but the main drivers of this stock...the licences etc...not there at this time
52 Week High 3.20
52 Week High Date 28-Jun-2022
52 Week Low 1.15
52 Week Low Date 29-Nov-2022
I personally think something is going to happen with the Stronach Group. The facts are Arizona Downs harness racing won't go ahead in the fall unless Stronach buy the track but Webis haven't released a RNS stating this, why?. The Arizona Racing Commission voted to give Arizona Downs notice to remove their licence last week. A video of the meeting is on their website and the Stronach group are mentioned as potential purchasers. Will buy some more shares if MATD bags over the next few weeks, if not I'll stick with my 3 million.
Wondering if it is getting close to jumping back in time? Over the years this has been a traders dream and wondering if it is at the bottom now.
I bought in yesterday at 1.62 and again today at 1.55 another £3000 but it’s showing as a sell. Not sure what’s happening tbh but at these levels I had to fill my boots!!
Slow drip down
Meeting today has been cancelled. Item B3 on the agenda was
Determination of continued operation of Arizona Downs OTB’s and ongoing Racing Permit pursuant to
A.R.S. § 5-111 and A.R.S. § 5-112
There are obviously issues with the course at Arizona Downs and it's ability to provide racing over the spring and summer months. Webis were intending to run harness racing over the fall. I think we need a statement from the board as to whether they still see this as an important revenue earner in its own right, but also as support for our Cal Expo operations. In addition, it would provide us with extra leverage outside of California.
If they don't what are they doing to replace this potential?
A meeting has been arranged for tomorrow hopefully our licence for Arizona Downs will be on the agenda
2023. At present, we are simply awaiting our license hearing from the Arizona Gaming Commission. We expect this to be completed no later than the end of March 2023, but will inform shareholders if these dates change. We see this as an important revenue earner in its own right, but also as support for our Cal Expo operations. In addition, it would provide us with extra leverage outside of California.
So the above was taken from the February update. Seems they have forgotten what they committed to already!
I'm concerned about Arizona Springs - no news of a licence and we're supposed to start racing in the fall. I know that there doesn't seem to be any thoroughbred racing taking place at the moment or any planned for the immediate future. The Arizona Gaming commission are talking about removing their right to have simultaneous broadcasts from other venues because of the lack of racing. No racing means no income which would mean the track could fall into disrepair which would make harness racing in the fall much more difficult.
What is the situation on Arizona? Expected late last year, latest early 2023! Come on support your own share price.
What is the strategy here? It seems they are just sitting on the intangible assets (the licences) and hoping for the best whilst the rest of the business struggles to make a profit.
This needs shaking up and a proactive management to create shareholder value. It is so frustrating seeing the drops every day after seeing the same comments from the board this and last year about the wish for strategic alliances that never happen. Get on with it!
I sold out at 2.20. First time I have been out of Web in this name or previous in ten years. I clearly dont mind this pull back below 2p.
Bad weather continues in California continues, affecting the Cal Expo schedule...
Looks like someone has had enough of the wait and is moving out. Reaaly need news on Arizona Downs to stop the rot.
It’s about time we benefitted from our licence portfolio ….
https://twitter.com/lspreport/status/1634118145689497603?s=46&t=reOxS0uqKjgSconptGwvHQ