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http://www.flushdraw.net/news/misread-finances-not-understanding-the-gvc-holdings-stock-slide/
this is perhaps the further kick in the crotch that was almost surely inevitable with this lot
What an incompetent lot of xxxxxx! Snatching defeat from the jaws of victory.
GVC have been a great investment for those in since & before the acquisition of Sportingbet.Directors of GVC bought decent numbers of shares yesterday & Directors of Bwin bought in there the day before ,so they clearly believe it is a good plan
Kamel. Good post. Luckily I exited Ladbrokes in May and achieved just over 120 so feel happy about that. I still hold 888 and maybe, just maybe, the ruling families here might be more willing look at any new offers for them slightly more positively. rgds
crookman The quote you posted attributed to Brian Mattingey of 888 was as concise a summary as one ought to need about the future. Of course, there was perhaps an element of sour grapes involved at being rejected and this would colour his comments. Leaving this to one side though; it was a damning indictment of the path he perceives they may take. The poker business is perhaps irretrievably lost (as far as big profits are concerned) and with GVC it may simply be farmed out to Amaya and possibly even migrated to their other platforms and allowed to die gradually or simply be jettisoned. This is perhaps the reason that GVC could justify a larger price - who knows! The remainder of the business will have to be trimmed and reorganized and I'm sure GVC will be well placed to do this. Brian Mattingley's comments should be heeded though - if the stategy is as he suggests it is; the path is laced with huge hurdles that the existing team have already fallen over once already. One can only respect the Management Team at GVC on recent past performance but as it stands i think there are more non-believers than believers. The Bwin board were and are feckless, however, this does not mean that a good Board would have had shining results after the merger, merely that they would have been better that was actually achieved. The task is possibly more difficult as the good people at bwin are either disillusioned and fed up or they had already exited. For me, if it's a toss up between GVC and 888, i'd choose 888 over GVC on every day of the week and twice on Sunday. Mind you, I've still gor the dreaded Ladbrokes in my portfolio and as right as i've been with calling this one the converse is true with Ladbrokes (it's getting to the stage where the shares could not be given away in a lucky bag just now) Good luck
Not bad judgment rugs - agreed. Just too many uncertainties going forward. BPTY have spent years trying to get out of all the unregulated markets to avoid nasty shocks to the business which has cost a crap load of revenue, now it’s going to go into reverse and end up back in the markets they left with all the risks involved they were trying to avoid. Not to mention our esteemed CEO somehow is still on the Board to help make a further mess of things going forward. This feels like the Bwin/Partygaming merger all over again – full of hope and expectation but pretty much a bust in the end.
With the GVC price hovering around £ 4 it means BWIN is valued at around 117p. As soon as the price approaches this level (if it ever does) I will cash in my holding and not worry about any dividend. gla
My nosing around suggests that if GVC does indeed complete the deal, divs. are likely to be put on ice in 2016 to help with £60m cash costs of the acquisition.
possibly true and perhaps even longer, however, the rejected offer at approx £2 can surely only go up (if they do offer again) and the risk was that they took on bwin and failed to deliver and devalued their business. The 888 stockholders may well feel that they have dodged a bullet Both 888 and GVC are well run companies and have proven track records of delivery but the scale of the task for GVC is much greater than past achievements. Surely the market reaction 888 up GVC down tells a story too
Blimey you had me worried for a second, thought I was going mad...lol
sorry dint read the above properly - i thought you were talking about the bwin share price. You are correct.
no the offer was at 115 p - that holds. The problem is with the GVC share price dropping but that's expected and its only dropped within norm. I wouldn't worry too much - only mum and dad investors selling.
So based on GVC’s current share price the offer sits at around 1.19, so 1.19 less the 25p cash element would put BPTY at 94p. Is that assumption correct?
GVC drop isn't a good sign.
Something smells fishy about this, just had a UT trade of 293K shares buying at 104.5.
Its clear that the market is worried here...Its not the first time the board make bad decision...And market thinks again they made one with recommending GVC.....IF both shares fall more, then it will create hugh problem for the shareholders to say ok...At the moment the deal is worth 122 p for bwin.party shareholders....
Need to remember it's a cash and share deal so it will most likely drop to around 105
Now 107.5.
Currently 108.40, somebody doesn't believe that the deal will complete.
Direct Quote....not an unreasonable one, which is why I won't be holding the new shares. Mattingley also claimed that he didn’t see the new GVC/Bwin as a competitor. “They will take what failed with Bwin and do more of it. They have the same platform, the same managers, the same marketing. They even still have Norbert [Teufelberger, Bwin.party’s CEO, who will stay with the combined group as non-executive director]. The guy who destroyed the value of the company is still in there.”
Happy to see that Ader is good with the deal....things looking better now and settled my early fears some what. U.S. activist investor Jason Ader, whose SpringOwl vehicle is among Bwin's biggest shareholders, with a stake of just over 5 percent, said via email that he was "very satisfied" with the outcome and the premium GVC was offering represented "the best value for all shareholders". http://uk.reuters.com/article/2015/09/04/bwin-party-ma-gvc-holdings-idUKL4N11A1JE20150904
Of course the price will go up. GVC were threating to go hostile, with a bid of 129 they were sure to get the company what ever happened. Teflon was probably offered that position in order to swing it. I suspect a few people are jumping ship because Adler was backing 888 and he was the 1 who brought all this about. Still, waiting to see what his next move will be.
Thanks guys for your feedback. As the share goes Ex-Divi next Thursday I’m holding next week and going to make a judgement after that as to what stance to take going forward, it’s hard to see this not going back up soon but its just the threat of the deal going bad that’s a little worrying. On one hand I’m sure some of the pro 888 shareholders will prefer to change their stance rather than vote against and risk a massive drop in the price overnight. It’s all so frustrating, being on or near that break even for some time now but knowing that I should be able to see a decent profit for all the years of trading, this situation has really got me torn.