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If it wasn’t for the fee; this would be very good news.
With the fee it’s not ideal. But helps present results on a proforma basis now.
Potentially more attractive to an acquirer as well.
But on the whole negative I think
Given up on b2c in usa to stem losses at a hefty price - have to assume it is a great idea or bod would'nt do it.
Read as a decisive move by management to exit a lower margin part of the business in a controlled way or through a sale.
Long term view it is necessary and it will stem outflows and allow better use of resources.
LT... a buying opportunity again.
What an odd exit and fee.
Why not just wait until it is sold to terminate, on transfer.
Perhaps there were performance guarantees they were failing on in their contract. Stiles me as very odd to pay away £50m… how much is the us business even worth when sold ?
Look at those payments now scheduled..:
And at a time when 888 needs as much cash as it can get!
Just be glad & add.
Betby's algorithms depend on data such as user account activity, frequency of bets, amounts wagered, and types of bets placed. "From this data the technology can identify key traits which could indicate problem gambling or fraudulent behaviour," says Mr Emelyanov
"fraudulent behaviour" includes actually making a profit
Like all the other business sectors, Gambling business also is/will be, disrupted. Will have to wait and see the take from 888 in their annual review. For the moment what BBC says
https://www.bbc.co.uk/news/business-68304137
Hopefully there is more positives for the industry - cost reduction. better customer engagement & coverage etc.
Wasn't the current BOD that did the damage
Just consistently disappointing - small spike and then down we go again! There is no traction here - share price just does not hold. Just feel that the bod's over reached themselves with some over greedy decisions and they are still out of their depth. It will take some time before any confidence returns!
Does this look like the news coming at the end of March isn't going to be that positive?
I know that some people are saying this is how 888 SP operates.....but any time I've seen it drop this consistently and quickly from 100p, there's been news to follow.
And normally not ideal news, then it takes a further sharp dip.......and re-rallies again.
Hitting 100p only 10 days or so ago, I really thought we were on the road to 120p + but we have list over 1p a day off the SP price now for the last 10 days, and dropped near 20%
SPike can b useful at the open so H-L today +5.15p to -2.94.
Almost 10% and nothing has changed. Add & trim the only way with this one.
Not sure either, but might put a few on a sell order pre-market and see if it hits. Then look to repurchase them later in the day.
Have enjoyed something similar, to an extent, with another share in the past few months. Totally different sector, but fairly predictable SP movements. Although it works until it does not, of course :)
For some reason this is a pattern with this share.....spikes quite a lot on the morning before 9am, by about 5/6p then comes straight back down again.
It's strange and not something I would see too often on other shares.
When I looked this morning we were back up to 91p.
I am seeing it in the red now
Does anyone know what is driving the big spike? There wasn’t much buying Friday PM.
It's a little bit frustrating that this time last week we were looking for an SP over 100p,....and now we are back to 86p.
Was hoping by end of March we'd be 120p.
Some people give far too much importance to shorts
So some people are short 2% of the Market Cap
So what? That means 98% of the Market Cap is long
Shorts have no special knowledge and they largely play on the fear of other investors
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 forecast eps is also 25p and so even if a bid did not happen for 888 the shares are still extremely undervalued
"What’s the rationale for the short interest here ? 2.5%" - I would say it's the huge amount of debt the company has.
Been readding here today.
I bought back those that I sold last week. Will add more if we revisit the low 80's - which I think we will - if we fail to hold the 50 DMA.
Or if we bounce off that hard, we could retest the 200 just as quickly. Not looking any further ahead than that, for now. GLA.
I top sliced 50% of my holding at 99.5 and I am gradually putting the money back in I don't normally trade like this but I did think it worth the risk this time.
What’s the rationale for the short interest here ? 2.5%, is there some potential company, trading or regulatory risk in the market ?
Yes any bid above £2.50 is in play. The company is now in a more stable position than when the £1.56 bid was rejected and interest rates will soon fall.