Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Key messaging from the RNS looks very bullish / encouraging:
* "Not ruling out alliances, mergers or acquisitions to fast-track our growth. We will keep shareholders fully up to date on developments in this area".
* Principal aim is to at least double player numbers within the next two years
* As shareholders are aware, on Tuesday 8 November the two Californian Sports Betting Propositions failed to receive the number of votes required for them to go into law. Contrary to some opinions, this was actually a very positive development for our Californian business. The comments for both propositions were seen to be ill thought-out, highly protective, and in the case of 27, potentially misleading. Initial indications since the elections show that this subject is far from dead in California. Simply put, the market for Californian sports betting is too big for it not to happen.
* We much prefer working closely with the State legislature in Sacramento to devise a State-driven Bill that is fair and equitable for all interested parties and, most importantly, the Californian customer. We believe that this can happen in 2023 with a view for live operations in 2024 and will work to ensure that our assets in California will be included in such a Bill.
* Strategic Outlook: We have now completed a comprehensive strategic review of our operations and goals for the business through the next two years, all linked to achieving profitability. We have identified growing the B2C sector as our principal aim with a view to at least doubling player numbers within the next two years. We have developed a detailed software and marketing plan to that end which has been approved by the Board with detailed budgets until the end of 2024 which project this sector and indeed the whole operation to be profitable.
* In conjunction with that, we have several aims to improve our licensed position in the USA, especially in CA and AZ. We believe that it is vitally important for growth that we continue to ensure the highest levels of regulatory compliance as a company in the USA.
* A combination of growth in our core business as detailed above plus our unique presence in key States will greatly enhance the valuation of the business. Related to that, we continue to assess more strategic developments and have not ruled out alliances, mergers or acquisitions to fast-track our growth. We will keep shareholders fully up to date on developments in this area.
Bring on 2023....
Good luck, Brighty
made a loss
It's a long term hold with very little if any diultion.Rather boring perhaps until Californian gambling legislation gets going but some of the most boring shares can be the best.See you all next year!! lol
Beza - we'll know in the next 6 days
Less than flattering coverage in Master Investor, concerned that there’s more cash going out than coming in.
I also think a lot of it is greed, people wanting a quick buck and move on to pastures new and lose the faith with Webis. I so hope and expect that these people are going to deeply regret cashing their chips in!!!
Quite right. I would also add that globally M & A activity continues in the Webis space at pace. e.g. It was announced that today Entain purchased Crotian operator SuperSport Group. In the briefing document it confirmed that the deal was about unlocking the €5.0bn regulated betting market opportunity across Central and Eastern European (CEE). Where have we heard that line before about the potential for global players to unlock a major market?! Oh yes, California.... Good luck, Brighty
This stock is as cheap as chips, it is a no brainer. The thing that puts people off buying it potentially now is the time it might take to get California passed, which may never happen although I am very confident it will next time around.However, with other states opening up to gambling this will
Be an ever expanding marketplace irrespective of what happens in California. The ones that stick with this stock will be very well rewarded imo which it only is. Onwards and upwards!!!??
A couple of chunky buys …things warming up
I don’t think there will be a long wait. A good set of figures would be helpful to move this price forward. I do think we will merge with someone or get taken out
True.Good, although predictable run of the mill rns.I'll bet that California gambling isn't going away and going to be forgotten as there's too much extra revenue and profit on the table for all parties.So i guess it's back to waiting for those who still believe.
People seem to be taking this mornings rise as an opportunity to sell, mustn't be many buyers out there as spread is now 33%
Results should be issued by the end of the month so it could be a nail biting 7 days
Market Cap just under 6m, last year accounts (2021) , cash in hand 5m + small amount of assets, total = 8.5m. What we need is to see 1-2m+ profit, which with the new Arizona contract, maybe we’ll see 2024 (or before!)
Some very good news today, and not before time really ....:)
Even better, we are due further positive news in the near term, so major re rating on the cards.
GLA.
Webis RNS today confirms the renewal of its key California license.
Plus: In addition to the California license renewal, Webis has renewed, or are in the process of license renewals, in Colorado, Kentucky, Minnesota, New York, North Dakota, and Washington. The company does not foresee any expected issues that would delay or prevent them from being approved.
Summary of the RNS messages today:
* The ADW license renewal from the CHRB is for the years 2023-2024, and it allows WatchandWager to continue to accept online pari-mutuel wagers from residents of California on its range of global content.
* The license renewal from the CHRB is strategically important to the company, not only for its access to the biggest population in the United States and one of the largest economies in the world, but also for the potential of offering sports betting to California residents when the state legislature passes this into law.
* As shareholders are aware, the license sits alongside our long-term lease of the Cal Expo racetrack, adding an important physical, as well as on-line, presence in the state.
Good luck, Brighty
Not sure when the results are due, but it would be good to get them posted and hopefully they will be reasonable given the enthusiasm for sports betting in America even if California was not keen for whatever reason. I expect that we will get taken out or merge with someone I cannot see is hanging on for a minimum of another 2 years.
The RNS from the board is going to be crucial, hopefully with a very positive slant. There is still a lot to like about betting in America even without California so let’s wait and see!!!!
Getting increasingly annoyed here. What is the company’s plans for organic growth, cost controls, increasing margins? Sitting on some intangible assets and calling that a strategy is just crippling to see.
Also amazed that this can fall 15% on results day when we all knew the result weeks if not months before. Granted the scale of the opposition was large but irrelevant to any future proposal in 2024 which will be better targeted and alliances made.
Not sure I can hold but reluctant to crystallise loses based on management inaction in a sector that consistently hits high margins and is ripe for consolidation.
Post a RNS and give us a corporate strategy that shows you are actually working!
From the Interim Report
We are, however, fully aware of our unique position, and we continue to be in discussions with potential partners in order for us to leverage the kind of scalability required to succeed in the core USA markets.
Having sought external advice from venture capital firms and indeed specialty gaming advisers, we continue to consider ourselves to be undervalued on our metrics and, indeed, our potential growth opportunity in the USA. We remain open to discussion with potential partners and will keep shareholders fully informed of developments in this matter.
We have been up for sale for a while now
FFS, sub 1p here we come. I agree, putting the company up for sale seems the only decent option now. They should have sold a year ago when the Mcap was much higher!!
In the best interests of shareholders and webis itself . Put the company up for sale .
Hopefully you are right. I’m not topping up until I hear something more positive from the board. I’ve got some funds set aside if we dip to 0.9 - 1p
Looks like we may have bottomed. At £5.5m Mcap we can’t really go much lower tbf. Hopefully we can turn around the interim £70k loss into a £400k year end profit. Results due before end of the month and we should get an update on Arizona.
Totally agree with you . The management have said that they have been approached in the past but stated "they need us more than we need them" Really ??????
Got out this morning . Took the hit. This is going nowhere. Better things to do with my dosh than leave it here in the hope something transpires. GLA