Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Hello Gewillia, you may well be right that the White Paper report will be some how delayed, because, as you said, it's not long now before they need to raise funds to fight the next General Election.
https://seekingalpha.com/news/3796291-new-york-smashes-sports-betting-record-for-single-month-action
Hello again Cukkas. It would seem that the government wants to do a major review of the operation of the Gambling Act 2005. As such there is no agenda at present. Everything is up for grabs. Imo, there is a loud anti-gambling lobby in the Lords and Commons, but how powerful they might be is another matter. The lobbyists seem more inclined to generate heat in the form of emotional press-releases claiming that the UK has 400,000 addicted gamblers with little or no self-control, rather than providing some light, like publishing serious studies of how they arrived at that number.
I came across this article:
https://www.gamblingnews.com/news/niesr-tasked-with-modelling-gambling-harm-economic-cost/
The NIESR is a well-respected, politically neutral, independent UK institute that does both Economic & Social Research. They've announced that they're preparing a report on the benefits and costs of gambling, including gambling-related harm to individuals, communities and society generally.
The benefits, of course, being the money raised in direct tax, plus the income taxes raised from the tens of thousands of jobs provided by the bookmakers.
Personally, I'm all in favour of updated regulations based on hard evidence and proven facts. There's no doubt that gambling addiction is a serious problem for society, along with the other addictions of alcohol, drugs and tobacco. But there's also the consideration that tens of millions of Brits enjoy gambling without endangering their family's homes and finances and the industry is a massive supporter of another sizeable employer - horse-racing.
I'd be surprised if the White Paper is ready before this summer, and even if it is, legislation is probably two years away, which might quite possibly take us into an election year. The major review and resulting legislation will take years imho. But remember; I am often wrong!
Hello Gewillia, thanks for the link. The article reveals the likely time table in May as you mentioned earlier, but unfortunately it didn't intimate what possible curbs or measures that they were considering.
Yes, I agree that most punters are greedy or foolhardy or both. Over the long run, the only sure bet is that the house always wins.
My apologies, Cukkas. The story was in Sunday's Observer. The link is:
https://www.theguardian.com/society/2022/feb/06/uk-government-puts-off-review-of-gambling-laws-until-may
Caesar's are matching cash deposits 100% up to $300, but you've still got to make winning bets. I must admit, the thought never crossed my mind to sign up with everyone. That's greedy. Not to say foolhardy. I'd be scared to sit down in front of Saturday afternoon's football and racing, knowing that ! had deposited £2,000 and had £4,000 worth of firepower. That's probably why I'm content to stake the bookies to keep shaving a steady 8% off the gamblers and giving me a slice through their dividends and SP capital gains. The old story of the tortoise and the hare!
Hello Cukkas , Ref £100 , yes dip there would be great , US investors still naive how profitable sports betting / online casino are , i understand short term cost of ads , but once trading updates follow ,Fltr will quickly rerate
Tyro thoughts
Hello Gewillia, thank you for your information. I tried just now to look for the Times article, but unfortunately I couldn't find it. Can you give me the link to it? I like to know how far are they thinking of clamping down gambling in the UK. The publication of the report may be the turning point for the gambling sector in the UK, I think.
In the USA, apart from the two major reasons that you mentioned, there is one other reason why every spots player is bleeding cash in the USA: they all give away between $100 to $200 free bets to sign up punters, leading to the inevitable situation where a smart punter can simply game it by signing up to all of them in their state! The sportbook operators have no choice but to offer it, as it is the only way to capture a meaningful market share.
You may recall that in the 3rd quarter 2021 earnings call, Flutter first detailed their expectation of turning a profit in the USA in 2023, primarily hoping that as the market settles - i.e. no new sign up bonus is deemed necessary as most potential punters have signed up already - they can retain some of the punters to stick around with them by being the biggest and hence offer the best odds possible. That hypothesis remains to be tested, of course.
Yes, Cukkas, there was a note in the Sunday Times yesterday, saying that the report and White Paper had been put back to May.
Thanks for the note of NY turnover. With only one game left in the NFL, the NBA should carry the party through to March Madness, and then it's the relatively quiet time of year through the NFL playoffs and the regular Baseball season, until September when the NFL restarts the fun times.
I've been wondering why the US sports-book stocks have been steadily drifting downwards since last fall and have come to the conclusion it's for two connected reasons: 1) The US investor has no understanding of the bookmaking business (for obvious reasons) and 2) they see all the companies spending a fortune on television advertising to produce current very negative cash-flow. Meanwhile promising great profits in 2024, maybe. The amount of $3,000 per active gambler has been been bandied about, to buy market share.
So I'm concluding that SP's will remain unexciting for at least another year, until somebody declares a thumping profit. - At least that has always been my hope, to see major personal profits once the plc's have paid all the start-up costs and started to cash-in. Fingers crossed!
Hello Roofer61, your purchase has proved timely today, while my limit orders to average down at 1000p are not hit.
The news over the weekend from the US has probably helped, I think:
..............................
New York set a sports betting market record by bringing in $1.6B in action from January 8 to January 30 to break the previous single-month record set in New Jersey with $1.3B last October.
The leaders in the state so far are Flutter Entertainment's FanDuel (OTCPK:PDYPY), Caesars Sportsbook (NASDAQ:CZR), DraftKings (NASDAQ:DKNG), BetMGM (MGM, OTCPK:GMVHF), and BetRivers (NYSE:RSI).
February is expected to be a strong month as well for sports betting in New York, with the Super Bowl, Winter Olympics, NHL All-Star Game and NBA All-Star Games all attracting attention.
...............................
I've a question: does any body know when the parliamentary committee on gambling report is due to be published?
Sold , and kept , wait for it "2 " free shares as profit wow lol
Paid 105 , should of waited still dropping damn
Rapidly becoming a day traders dream share with these over 5% swings, duty costs put me off , roll on updates from US to open their eyes
Tombola UK largest bingo site deal completed today,another feather in FLTR cap GLA
Another top up , SP is bouncing around alot , uncertainty n wavering in the market GLA
Hi, does anyone know of any news development that can probably explain the 4.5% drop in FLTR's share price today?
https://www.timesunion.com/news/article/New-York-will-allow-mobile-sports-betting-16754472.php
New York's mobile sports betting starts Saturday
State Gaming Commission approves four platforms in time for Jets-Bills contest as well as Super Bowl
Rick Karlin
Jan. 6, 2022
Updated: Jan. 6, 2022 1:32 p.m.
Rush Street Gaming, which operates Schenectady's Rivers casino, is among four operators now authorized to offer mobile sports betting starting on Saturday. The State Gaming Commission approved four platforms in time for the Jets and Bills contest as well as Super Bowl.
Rush Street Gaming, which operates Schenectady's Rivers casino, is among four operators now authorized to offer mobile sports betting starting on Saturday. The State Gaming Commission approved four platforms in time for the Jets and Bills contest as well as Super Bowl.
Jeffrey T. Barnes/AP
SCHENECTADY — Football fans who want to place a mobile bet on Sunday’s Jets-Bills game or Giants-Washington contest will be able to do so, now that the state Gaming Commission has approved four platforms to begin taking wagers at 9 a.m. Saturday.
Caesars Sportsbook, DraftKings, FanDuel, and Rush Street Interactive are the first four platforms approved to accept bets.
Five additional platforms, which are conditionally licensed, are working toward satisfying the requirements to start taking bets, according to Gaming Commission officials. Those companies include Bally Bet, Bet MGM, PointsBet, Resorts World, and Wynn Interactive.
Thursday’s approval answers what had been a long-simmering question about whether the mobile platforms would be up and running by the Super Bowl.
Rush Street operates Schenectady’s Rivers Casino & Resorts, one of four full service non-Indian casinos currently open in the state.
Allowing the use of mobile sports bets, in which bettors can place wagers on their cell phones has been long awaited in New York, especially as other states already allow it, including New Jersey which borders the densely-populated downstate region of The Empire State.
There had long been complaints that New York bettors could cross the border into the Garden State to make their wagers, and in the process deny tax revenue that could have otherwise come to New York.
The minimum 51 percent tax rate that New York mobile operators must pay the state has also been controversial. Critics including the state Assembly’s Racing and Wagering committee Chairman Gary Pretlow have predicted the rate might deter platform operators from bidding or from offering the kinds of business-building promotions seen in others states.
Legislators were pushing for a 12-percent tax rate, which they say is in line with other states but during negotiations former Gov. Andrew Cuomo pushed for the higher rate.
Others have said the higher rate would work in a state the size of New York but have agreed it may result in fewer promotions, which typically reduce the operator’s profit.
Just added again on the dip GLA
Lets hope their fair better than BT did, on the flip side CNBC saying sports betting going to be one to watch from analysis/ hedge funds in 2022 , lager sell off today but increased by over 3%, are uk brokers unsure GLA
Maybe silly enquiries but
1
Could Fluter still float the Sisal IPO which was planned by Sisal, when takeover complete
2
Is it known how advanced the Sisal bid is to run the UK Lottery
and ( B)
How profitable is the UK lottery to a prospective purchaser
Acquisition will push sp up today imv.
For those who may have missed it, I thought it's amusing to put it here what one executive predict for 2022:
https://www.cnbc.com/2021/12/18/10-anonymous-media-execs-predict-2022s-industry-shaking-events.html
CNBC, PUBLISHED SAT, DEC 18 2021
Executive No. 8: A major sports betting company will go bankrupt or sell for ‘peanuts’
The mobile sports-betting craze has swept across the United States. As more states legalize sports betting, the industry around it has boomed. In October 2021, people wagered $7 billion for the month — 20 times more than in June 2018, according to Bloomberg.
Gambling companies have spent hundreds of millions of dollars in marketing as Americans flocked to sports betting. There’s a glut of them, said this executive, and at least one of the major sports betting apps — BetMGM, Penn National Gaming, PointsBet, Wynn, Caesars — will go bankrupt or sell “for peanuts” to one of its peers or market leaders FanDuel and DraftKings.
A Merry Christmas and Happy New Year to everyone. Happy Investing too.
10% higher now Denfos well done , I missed the bounce at 98/99, never mind GLA
Will buy at 100 quid per share, should it get there…
Hi Gewillia, here is one website which is appropriately named: https://www.gamblingnews.com/ that I check ever so often for USA centric news.
Like you, I believe the impetus for growth will primarily come from the expansion of online sports and igaming in the US of A. However, over there, the likes of Draftkings have also seen their prices touching 52 weeks low, seemingly because the 51% tax rate for the New York state is a real dampener, it being one of the largest markets potentially in terms of demographics. As a result, I believe bookies will continue to entice Yankies to cross the state line to New Jersey to place their bets, as they are successfully doing at present.
I'm averaging down on Flutter and also take a new position in Entain at current price levels, the latter is still a prey potentially, even though it's a predator at present.
It struck me that there may well be other readers wanting to follow US (and Canadian) developments in the online gambling market.
One website I find very useful as it covers most of the states and most of the sports in considerable detail is SportsHandle:
https://sportshandle.com
If any of you have other interesting websites, please share. Just yesterday some wacky renegade judge tried to shut down all the online sports sites in Florida on a technicality.
Meantime fingers crossed. FLTR is seemingly in freefall with the SP at a two-year low & has got my trigger-finger twitching, because I reckon Jefferies opinion of a long-term £200 target is a valid one. Anyone for 'knife-catching'?