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Yep which is why they’re going to buy webis. GLA
IMO the short answer is that the FY 2018 results confirmed that the expansion in the US, while a potential game changer, will take some time to mature ("current expectation is that the New Jersey sportsbook will generate a positive contribution 18 to 30 months post-launch") while the cost of the regulatory, tax and product fee changes are having a substantial and immediate adverse impact on the results (“approximately £118m had they applied for the full year 2018 - representing c.26% of Group EBITDA)”.
I haven’t seen any analysis by a broker and would welcome any links if available.
I bought on basis that PPB would use its proven track record to capture significant profitability in the US and other nascent markets while growing its on-line business. I’m going to hold for the present and wait on further trading updates.
Why the big fall today? What’s going on?
Why the huge rise today? What's going on?
like the company themselves are the only large buyers of the stock at the moment
They have increased the tax on gambling to 2% from 1%.
What the bloody hell just happened here?
Sweet merciful
Looking good value. It appears too many selling though to sustain.
This has to be starting to look appealing now! I'll be taking more in the next week anyways.
Apparently not. This is relentless off the back of nothing really.
Sell down in the midst of a comprehensive Share Buyback programme is rather alarming. Only promising this is that we are getting particular good value with the drop in terms of cancellations.
Continuing my general comments on online gambling firms. There was an interesting article in the Guardian racing section yesterday. Bet365 is challenging, in court, it’s liability for a £1m payout on bets totalling £25000, claiming the student was given the stake money by others. Bet365 makes £525mn in annual profits, the CEO earns £200mn. I think there is an increasing likelihood that the basis for these kind of hyper profits are going to come under more scrutiny. Equally, if FOBT bets are being reduced to £2, will internet bet stakes start to be looked at too ?
PPI not PIP
There is a question with gambling firms in general that I sometimes wonder about. PIP compo firms are targeting payday lenders now. Will wealthy bookmakers come onto their radar at sometime ? Do bookmakers close profitable sports betting accounts ? There seems to be plenty of evidence they do. So, will sports bettors start to build a case that they can only lose, and claim back their losses ? Another co. in this sector that may be undervalued at the moment is Playtech. Anyone thinking of investing in PPB could consider putting half into each.
Personally I wouldn't buy anymore just yet. Sadly I think it has a bit more to fall due to a combination of things such as a relatively negative FTSE outlook, it being the holiday period and there being not much to drive this share up. Perhaps it will drop to 65 pounds if unlucky. Also too many people selling and there appears to be an element of price rigging with plenty of single digit numbers of shares being bought and sold.
For a takeover you'd get average over 1 year, so roughly 76 pounds. So in that sense it would be a good buy.
This is turning into a bit of a farce to be honest. Starting to tempt me into buying more. the yield is also starting to creep up at this level. Some interesting points raised T.R, but the most scary is that of a takeover. I don't think that PPB would be in the crossfires in terms of a preferred takeover. I would imagine William Hill or GVC has more appeal from that point of view, but who knows.
This may be a company to consider as a very long term investment. The US has a collosal underground sports betting market ($385bn is an estimate I’ve seen). PPB is intent on targeting the legalising parts of this as part of building a global empire, and it may have the skill to succeed. They have prioritised updating their software, and I believe this has been successful. The SP is back where it was before the US legal situation changed. With the £ so low against the $, could this be a takeover target ?
Welcome. The bloodbath seems to be continuing. Can’t understand why!!! Holding RNS’s, share buyback, no cut in dividend, numbers not out of line and potential unexpected growth in the US, which was not taken into consideration for the last 2 years. Hopefully someone can shed some light in this for me?
This is bruising!!!
https://total-market-solutions.com/2018/05/19/are-uk-bookies-still-worth-a-punt/ TMS
There was an RNS but it isn't showing above there. We estimate that the direct, pre-mitigation, impact of this new stake limit would be a 33% to 43% decrease in our total machine gaming revenue. In 2017, this would have equated to a �35m to �46m revenue impact, representing 2.0% to 2.6% of Group revenue.
Anybody have the numbers for PPBs machine profits?
The American will love this stock
Looks like PPB want to take full advantage too!