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Gambling Commission expected to recommend a £30 spin limit on the one armed bandits. GVC will be very pleased if that proves correct. Govt machine duty revenues trump any other considerations....nothing new there! Likely GVC won't have to close hundreds of estate shops so saving jobs and livelihoods...that's a plus.
Pal of mine jumped in at low 30's for a nice quick turn. Whether the sp has legs or is just a penny ante trading chip we shall see. Toyed with the idea to buy back in but decided to wait and see what further (if any) impairments there may be. Another hindrance was why had there not been an offer for Spo given there were 4 bidders? We're the nos that bad? If this has been staged managed by the board to effect an MBO I wouldn't be surprised at all. The question of a US listing still remains as surely SPO is now a US co in all but name? All these side issues make it difficult to see any earnings increases given the current gambling restrictions in the US which look to being relaxed but you never know. I couldn't do a dcf one year out let alone 5 given recent revelations. That alone makes SPO uninvestable. Goodness knows how much the US exchequer loses in illegal gambling but I'm sure a more State regulated regime will prevail which should be good for SPO, William Hill etc ...
Goodness knows what further impairments could amount to...they are rarely good! Talk of the mark down being well overdone....well aint they always? Would not encourage me to buy back for one moment there's way too much fog surrounding this atm and still valued at c.£69m looks hopelessly out of kilter imo. Day traders will play the swings but it's not a share I would have any confidence in long term. If there were buyers will they put in a cheeky low ball bid of c.£50m? I can see value if they hit the £6.5m number but on balance wouldn't risk it given so many uncertainties here and in the US. Good luck if your sticking with the Co.
Hi Costello/comeonvog.....yea I was out some time ago as well as most of my nearest & dearest at c.100p. Wont go into the details as i have posted ad infinitum over the years on the pathetic stewardship of this company by Hemmings and his school fag Penrose...who have royally cleaned up. Lucky? Yes...ish as i advised my investees to exit and not listen to the nonsense talked about buyers lining up to buy the Co....plainly a load of Ollox! Once the cash cow of the pools were sold that was it...kaput finito...arrivadecci! One of my few better decisions...not to say I didn't out stock way back post Rodime days. Hope you guys didnt lose too much in this didaster area and for sure worse news to come. Gluck...
Yes and look what happened to this one. These shares were tipped by so called "share tippers". Not a word from some and the other scum says I told you so!!!!!!!!
You were very lucky my friend getting out of this.
Hi JL not good news , are you still invested here .
What a shambles!!
Now pushed back to late March. Omens are not good as Trumps 'America First' policy has deterred UK buyers....if there was ever any? A moribund sp says it all a take out around this level looks odds on. I have moved on as has my other interested parties too many uncertainties re regulatory risks / US gaming laws make Spo not worth the candle. Good luck if your staying the course.
Sales progress kicked into the long grass!
After yesterday's tanking of the bookies stocks I'd be a short term buyer at these levels on i) the falls were overdone and ii) £2 might be wide of the mark.
Good morning cellis. Very surprised to see you on this BB! Trust your well. I agree the shops are on a slippery slope to 'nowheresville' (my local High St had 6 bookies now only 2 left) and they are empty as pub gambling, hmmm, nudge nudge...nicked their trade through bad management and poor service rarely opening on time drove punters away. Many of the High St retailers now facing wipe out by the Internet and others. Soon shops will have no staff, Amazon's latest mob app allowing you to 'swipe and take.' As an old time bookie you must be aghast at the speed of decline but imo they deserve everything coming to them particularly the treatment meted out to the very rare winners getting barred, the stupid tv advertising and 'come on con bets'.....yea read sub section 43 of the offer ffs! I shall def attend the blood thing Agm as long as it's not held in St Asaph! Soon see.
Morning John , if you take out the machines , which a reduction to this level would virtually do , the balance of shop turnover are mainly football bets. horse racing and greyhound betting is not what it use to be , as a result nearly all high streets betting shops would disappear . The biggest single change in betting shop turnover was the extension to pub opening hours , at 3.oclock each day my shop would full to bursting , and a good number 10/15% weren't "gamblers" like you and I but they popped in with their mates and had a couple of bets on their way home .The second biggest fall in turnover was the introduction of the lottery , which also hit the football pools for six , I know customer who never returned and when I was out and about and dumped into them I asked them why , thinking I might have upset then , or another customer , no it was the lottery , it's very very rare now to go into a betting shop now after 3 o'clock and find more than two or three people in , I would say football bets midweek and Saturdays would out weigh horse racing bets but the turnover on these alone won't keep shop open
To which I say in reply, thank goodness someone is speaking up for the more vulnerable in society from the betting and gambling juggernaut led by these large corporate self interested and uncaring gambling entities.
If strong rumours prove correct the Govt will cut the Fobts to a max £2 punt. This will severely damage earnings from Sads & WH with hundreds of shop closures and 20.000 job losses so said the Assoc of British Bookmakers. They have to talk their corner don't they? Shop closures and job losses will dull the pain from lost revenues but die hard machine freaks are unlikely to switch to more trad forms of gambling. Dogs might provide the instant fix but even they are like watching paint dry compared to the one armed bandits. They reaped in the good times and should have planned for exactly this eventuality. Granting US licenses to the management is a long process as managers have to have a gaming license or the US equiv and go through a thorough vetting procedure. May explain the hold up.
Each day 2-3 RNS re II holdings. Again this morning Lomard Odier issue RNS that they have bought 2000 shares. WTF is the point of these? Secondly, when will we get a proper RNS and offer for company? Getting bored with waiting...yawn Rich
Foxy Bingo agrees terms with Sads in a convoluted deal worth c. £4bn. Wanna headache? Read the terms! Whatever Sads get 47% & GVC 53%.
Maybe we ain't as pretty as we thought...mind you in the UK any bidder will have to satisfy hundreds of regs, health and safety and goodness knows what else before taking another few months getting the US authorities on board. Jeez is it worth the agro? Lombard keep hoovering up loose stock and most likely know who the front runner is. Don't expect a big premium thats for sure if this ever gets sold?
I should imagine there will be twitchy holders of both GVC & Sads this morning. Those Sads gains are imo too good to let slip away on the off chance of GVC paying at the bottom end c.160 & top end c.200 owing to the fobs issue. A bird in the hand an all that..
So GVC back to walk up the aisle with Sads bidding c. £3.9bn cash & stock for the lot. Not sure if I was a GVC holder I'd want to be lumbered with 3000+ of bricks & mortar shops with the Govt threat on fobs hanging over their heads. So far GVC have over delivered to the market hence their 50p rise in their sp the thinking being GVC can sweat the assets more lucrative than Sads. Alexander will be the CEO of the enlarged group but there will be a culture clash as GVC are essentially an on line business paying a handsome dividend which might come under threat. Somehow they will flog off the shops if the bandits get a reduced prize to £20 as it's the online they are interested in. Question is what are the shops worth in a fire sale?
On a massive debt reduction binge which kinda ties my hands atm. Still keep my eyes open for opportunities of which I've had a couple of ideas I'm involved in on the never never. Other than that same 'ol same 'ol!
It would be nice if the shares got transferred to a broker at some point. Research, working nothing terribly exciting tbh. You?
Yup that's me...post occasionally on the ADVN bb but as you know no news since d-day. What u been up to?
Nope found you, if you are the jl of sphr. Found rugs recently too over at dkl haha
a-2-b you lost me...