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There have been a few occasions in the last 8 years that I have been here and some have seemed to have no reasoning behind them at all.
That was on the back of a serious chance of change of Californian legislation . Not sure todays news will have that effect. But who knows!!
For those who have been here some time, we are all aware that this has a tendency to do a 100 to 200% spike totally out of the blue and I think we must be due one !!!
Defo
Employing a compliance officer. There are things going on in the background.
What is a realistic Mcap value for this company?
The May 22 results will be telling. They made a £70k loss upto Nov 21. Will a big player really want to buy a company making no profits? Or is the strategic position , brand and licences they hold enough to bring them to someone’s attention.
It might be only a small fry but as they say, every little helps....:)
2 RNSs in one day!!!! ~there is life at webis
Not block busting news but shouldn’t harm ~I hope
The itchy finger moment has passed sub 2p now...patience....still looking for path of least resistance how Webis come out of this ahead.
Jim likes agronomics and bradda head where there ‘s rns’s on progress but we get zero comms on webis
Lots of promises of the good times ahead but nothing to keep investors informed- v poor and smells a bit
Share price goes south each week - is anyone out there or even cares
“We remain open to discussion with potential partners and will keep shareholders fully informed of developments in this matter “
That was 22/222 so in 5 months nothing to report - I think some one at webis is a very creative writer at share holder expense
Mmmmmm my gut is saying be v careful
Reckon this has missed boat
Should have been brought out by now a lot of disappointment- Jim has not come trump on his investment this time
Getting into range again for a top up....start to get itchy finger at 2 1/4p. Volume not abnormal so looks like punters getting bored...
Yes agree this is a slow burner.....suitably understated. Been here multiple years.
Little confused with your response....my understanding is Santa Anita is included in Prop26. SA is owned my Stonach Group. Webis has license at Cal Ex.
TO or sale is my expected outcome if Jim pulls this off.
It will be that the tribal ballot will be voted in so retail sports betting will be allowed at racetracks and casinos owned by them.. It would be absurd that Santa Anita racetrack would be excluded. It will mean that the licenses for that racetrack will be eyed up by the tribes so I expect a takeover bid or a sale of assets somewhere down the line. Just wait, this is bottom draw stuff but something will happen in the next 6-12 months since the ballot is in November.
Read the article and good details.
Having read the various summaries of the proposals I am scratching my head to see how Webis can proceed.
Prop 26 covers Santa Anita Park, Del Mar Race Track, Los Alamitos Race Course, and Golden Gate Fields. Webis track at Cal Ex isn't included.
Prop 27 - $100M license fee and partner with a tribe. There are much deeper pockets here than Webis....BetMGM, Fan Duel etc.
I know management stated in the past that they have been approached to partner and hope Jim has a sneaky plan to benefit from the November ballot.
Anyway all above my pay grade this deal making stuff.
Please share any thoughts...
A great article, explains the difference in proposals. Can’t copy and paste, lots of graphics. Also you will need a US VPN to access it.
https://www.kcra.com/article/cas-sports-betting-propositions-could-face-off-court-both-pass/40683974
Thanks WHL. Some good info there.
The clock is ticking down...
https://calmatters.org/economy/2022/06/sports-betting-california/
* I don’t think they will be short of suitors is what I meant to say
Coalition with a tribe is certainly possible. I don’t they will be short of suitors if Proposition 27 gets passed though. I think it would be a ‘name your price’ sort of situation
What are thoughts re partnership with an Indian tribe, some of the smaller tribes already supporting proposal 27 from the big players
Aligning with a local tribe, watch and wager platform already being invested in, physical track(s) good track record in California all tick the right boxes to be operational
The 100m is restrictive and agree with your comments but ultimately if that is the only hurdle can see the money quickly being raised.
My view, for what’s it’s worth, is that if either bill passes it is positive for WEB from a sentiment point of view. Clearly the tribe’s bill is less attractive to WEB but I think it still shows a start of legalisation so a move in the right direction in terms of liberalisation of gambling in California. If the online bill passes, I see that as massively positive for WEB. Yes parts of the bill are prohibitive from WEBs perspective($100mill license fee mainly) but I think this could be watered down in the courts(it certainly seems to go against competition laws). Even if it stayed I think they could realistically partner with a larger player. I think that’s their current plans, just my opinion, happy to hear other’s views.
It would be good to know how the Californian November ballot initiatives if passed will benefit
Webis
I agree. As we approach November decision this will surely rise. The potential here goes without saying.
I think people are being slowly robbed of the cheaper shares by the MM and their own impatience. I’d be amazed if the SP doesn’t rise from here in the lead up to November’s vote. We are also due news on the new Arizona contract which should give us a nice nudge upwards too.