Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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"The question now is, "Who else will make money?"
Looks like people are beginning to notice how undervalued GAN is.
Thx Mr Gewilla, didn’t know about the mediation October date - thank you
Staying high level ..
Government paper U.K. delayed - overhanging but don’t know when issued
End October for Fanduel mediation result (as you say)
Nov 8th California result of runners and riders (they said on call)
Nov 16th US cap markets day … (I think they will update then on the US listing)
I think they might have upgraded this time but need to keep an eye on U.K.
They said the profit Q2 was after all costs and even ifrs 17 (I think) stock option charges … that is fully loaded !
The figure I read from Entain was an upgraded expection of the size of the sports betting market being $35bn a year (any other supporting numbers ???) .. if you work these numbers through at I think they said 17% or 18% ebitda margin … the upside next few months and years massively outweighs the down side. Reasons to get very excited are very high. I would just joint list the whole thing on Nasdaq. If you were to list new this on Nasdaq now the value would be massively more than £20bn. Just my view relative to other US businesses which are far less exciting. This is new, exciting, under held US funds, a huge British success with massive market share with limited competition in a massive massive market….I think a lot more buyers than sellers next few months as investors read the tea leaves
CS, your questions are good but unanswerable, except by the board. Will FLTR list 10% of Fan Duel in New York? Who knows? They said they intended to back in 2020, until the row blew up with Skybet over the cost of SB's option to increase their FanDuel holding. These results say that negotiations are continuing, while the arbitration hearing is in progress, and with an arbitration decision announcement expected in October. Is it a coincidence that FLTR plans a Capital Markets Day in November? I couldn't possibly comment, but my nose is twitching a little.
Suspicious minds have much cud to chew over these facts. Perhaps more interesting (to me) is that American investors have been very suspicious of any bookies ability to ever generate real profits in the US - witness the halving of SP's generally in the past 12 months. However, based on today's results virtually every US gambling stock has jumped on the real news that, for FLTR, serious cash profits in the US within 12 months, are clearly in view on the horizon.
The question now is, "Who else will make money?" Fan Duel has 51% of the market. Entain another 24%. That leaves every man and his donkey to fight over the remaining 25% and there sure ain't enough to feed all of them. I believe we can expect a major consolidation over the next 24 months as many of the remaining public betting companies either get taken over for pennies, to acquire their 3% market share, or else go bust.
It reminds me of the historic story of the US car manufacturing industry: At the end of WW1, there were over 2,000 companies there making cars. By the late 1930's there were less than 10 and by the 1950's there were just 3. What took 30 years to play out with cars, will, imho, play out in less than 5 years with the betting plc's. Markets move much faster today.
What about the Gambling Review here in the UK? The government has laboured mightily for several years to produce almost nothing. Yet another postponement has just occurred, while we await a new PM. This old cynic takes the view that the government's revenues from betting are far too large to jeopardise in any remotely meaningful way. So the Review will be an exercise in tossing enough small bones to the well-financed PR campaign planned by the anti-gambling lobby to let the media make a fuss and then quickly move on to the next scandal/ministerial disaster/inflation update/whatever. Will UK plc shares fall, when it comes out? Almost certainly, but not by much and certainly not for long. The profits will remain and will remain valuable.
Thx Mr Gewilla - your post was very helpfu
I have done significant reading now and I think think this jn an outstanding structural growth story in Americas back yard !!
I own a lot more than when I asked about New York.
Surely a US listing to be announced alongside capital markets day in November ? How do they answer that question today ?
Quick question - how long will it only be two licenses in NY and how long do current licenses last ?
Thank you
The thing about common sense is that it's actually quite rare in most people's experience. More reading, much more reading is required on your part, CS. Had you properly researched betting in the US, you would know that each state is in total control of the gambling in its' jurisdiction. New York was firmly against legalised betting until this time last year when the state ran out of cash. At which point it turned 180 degrees and legalised it, with effect from . . . (care to guess, CS?) Yep, w.e.f. January 2022. And who was at the front of the queue on Day 1? Yep, it was Flutter with their application papers.
At the risk of being a bit tough on you, there's a old saying, "It is better to keep your tongue still and be thought foolish by others, than to open your mouth and confirm their opinions." Keep researching, CS. This stock will make you a lot of money over the next five years.
I don't understand your question? They are the biggest US operator via their Fan Duel tie up.
Can anyone help
I have done a lot of reading on this one ahead of Q2 on Friday. Amazing that New York sports book only opened in Jan this year !
The US opportunity looks huge. Why would this company not want to join others and joint lots on New York ? Seems a no brainer !