Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Going in right direction. Remember this tends to explode from nowhere.
It would be good to see a significant rise in turnover on this stock as most of the business is done in the US. Companies turnover and profits are rising significantly so in theory and hopefully the same will happen with us. This stock will surely get on an enormous charge with very little news it’s just a matter of when it happens. DYOR
Not seen web at this type of low. So many stocks like this. Trouble is so many delist. Don’t think web will do that but who knows. I am not a buyer of anything at this time except. For gold stocks but I am getting tempted here
I think you might of missed a nought off your recent post!!!!
50% rise incoming
Entain has reported a fall in revenue approx 7% in turnover in its largest market uk and Ireland due to increased affordability checks on punters there this is going to be the norm here for the foreseeable future an increasingly competitive market with shrinking turnover for each uk company which company blinks first and snaps up Webis the next frontier in fixed odds gambling a no brainier who wants the licences. 888 bet 365 V chandler. Quinnbet. Who wants them. A readymade parimutuel website and licences in a number of states A buyout has to come Fred done could be the one he is always a forward thinker dyor
You would hopefully expect a spike in the share price soon, especially as they are now looking to merge or be sold to another operator. Also, the improvement in our online facilities and the massive increase in online betting in America.
It would be good to get an update on trading and/or any news of any developments to sell or a joint partnership. This is clearly a buy from here, but it’s just how long you’ve got to hold, but patience will pay through for certain. Keep the faith!!!!
Come on, time for some positive movement please. Mutual be takeover offers on the cards.
From the last accounts...
As fixed odds sports betting spreads throughout the USA at an impressive rate, there is a growing demand by the larger operators to partner, merge or even acquire licensed pari-mutuel operators. Our internal market analysis suggests WatchandWager has a unique position in the USA as one of the top five licensed operators in our sector. Our stable platform of technology, payments, licenses, and most importantly content, is of interest to the larger sports betting operators, who are looking to augment their gross margins, which are under increasing pressure. Our licensed operation at Cal Expo with its “bricks and mortar” presence in California, enhances that position, especially in relation to leverage in California and the USA generally
You can sell at 1.08, buy at 1.275 and the price is 1.1. Figure that one out
I have just seen on Bloomberg that Flutter turnover in the US up 40% and profits in America set to triple. Our stock and turnover has to take off at some point in the very near future.
Https://standardbredcanada.ca/news/3-25-24/give-me-dance-named-california-horse-year.html
Published: March 25, 2024 01:50 pm EDT
Perez talked about such items as an increased new horse incentive for the future 2024-2025 Cal Expo meet, the solid horsemen’s agreement and contract with Watch And Wager through to 2030, along with remembering horsepeople and horses who had passed away in the past year.
Chris Schick, general manager for Watch And Wager, spoke about the current successful meet at Cal Expo and the promising future for Cal Expo horsepeople.
Cawkewell talks about webis in podcast dated march 18 2024 ..
https://www.youtube.com/watch?v=XZe9phFC05o
starts at 33 mins
he reckons losses coming to an end and has terrific opportunity. He extols the virtue of monarch agreement and the exposure to the big race courses. Says webis has a tremendous range of contacts built up over time. Thinks webis could be a huge beneficiary of the drive towards legalised sports betting in the US.
Simon cawkewell on webis 1st march 2024...
https://masterinvestor.co.uk/evil-diaries/evil-diaries-online-betting-and-the-web-of-influence/
Webis (WEB) controlled in voting terms by the chairman and whose father, Sir James Mellon, was on the board but died perhaps six months ago, reported a few days ago. These figures are pretty bleak but, intriguingly, Denham Eke, now de facto non-executive head honcho, remarked en passant that WEB expects an approach from somebody to get a toehold in American horserace betting. That seems quite reasonable to me. WEB is tiny – capitalised at about £5m which is just a few chocolate cakes from Tesco. Therefore punters are advised to sit tight although, obviously, not to bet when tight. Toe-dipping at 1.2p seems perfectly sensible.
Taser - re the £75 million valuation for the licences.
the recent attempts at passing Prop 26 and 27 in california for sports betting didn't get anywhere and it is probably not likely any time soon - even then, they would only legalise in person, so online would be many months later - talk is of 2026 to 2028 before you see this.
Prop 27 proposed a $100 million initial license application fee for sports betting.
The proposal also required license applicants to be authorized to operate in 10 other legal betting states.
..
webis is one of only a few players already in california, who are already in compliance and would therefore not have to pony up $100 million - that fee that was proposed is one hell of a block to new start ups... it is cheaper to take over webis and obtain the licences.
https://www.forbes.com/betting/legal/is-sports-betting-legal-in-california/
you will note in the link below, that webis - watch and wager is one of only nine players in the licensed horse race betting...
https://www.bettingusa.com/states/ca/horse-racing/
California law requires all operators to apply for licenses from the CHRB. This process includes obtaining a $500,000 surety bond, undergoing a background investigation, and securing agreements with local horse racing associations.
Additional regulations require California horse racing betting sites to document all financial transactions with their customers, submit to on-demand audits, process withdrawals within five business days, and much more.
The demanding licensing process establishes a high level of security for all authorized ADWs, but a few stand out from the rest in terms of overall quality and reputation. BettingUSA recommends the operators above because they have the most experience, handicapping tools, and promos.
In the summer of 2022, California governor Gavin Newsom, apparently high on the smell of cash, announced that California had just smashed through the state-budget equivalent of the first four-minute mile: a one-year surplus of $100 billion. Calling it “simply without precedent,” Newsom bragged, “No other state in American history has ever experienced a surplus as large as this.”
“Neither the governor nor the Legislative Analyst’s Office acknowledged how precarious that ‘surplus’ was,” says Mark Moses, author of The Municipal Financial Crisis: A Framework for Understanding and Fixing Government Budgeting.
Just one year later, in 2023, Newsom announced — this time without the trumpet blasts, chest-thumping and press tour — that California was $32 billion in the red. Today, the governor is staring into the business end of a $73 billion deficit.
You didn’t have to be a prophet to see the financial chaos coming. In this state’s notoriously mercurial tax system, which depends largely on revenue from just 150,000 wealthy Californians and massive, occasional paydays to investors in the state’s tech sector, what went up in 2022 was certain to fall hard, fast, and soon.
Nor did the governor acknowledge the troubling fact that there was never a surplus: Even in the go-go days of 2022, California’s state and local debt was accelerating toward $1.6 trillion, about 17 times Newsom’s one-year “surplus,” which included unfunded retirement benefits for government employees.
The bottom line: The bad news was a surprise only to those who took Newsom seriously.
For those people, the first red flag popped up in December, when the independent Legislative Analyst’s Office (LAO) pegged the deficit at $68 billion. With the doomsday clock ticking, the governor’s finance office issued a bland but candid “budget letter” to all state agencies, urging them to throw overboard anything not nailed to the state constitution.
“It is vitally important that state government is efficient, effective, and only expends funds that are necessary to the critical operation and security of the state,” the finance office declared. “As such, all state entities must take immediate action to reduce expenditures and identify all operational savings achieved.” That would be sound guidance in all circumstances. But this is California, and back in 2022, when Newsom was still feeling like the casino’s biggest whale, he spent as if there’d be money forever, boosting spending to $308 billion, more than double Jerry Brown’s last, 2019 budget of $140 billion.
Agree Webis should stay away from any sort of direct entry into a saturated UK Market
Them continuing to make a small annual loss is/will be off putting, granted.. and the chance that might turn into a bigger loss again further off putting.... so, as well as focusing on finding someone to buy the co out or such like, they need focus harder on fine tuning their current operations to get this back to even small profit... that in itself would give the s/p a punchy pick up, I'd expect... and increase attractiveness / value for selling out.. etc
More generally, the market cap here is under 5m gbp now.. so never mind 75m buy out value.. even 25m gbp would be a big win for most involved here.. and any sort pf rumour/ wider sector merger / acquisition etc can see a spike in s/p here too .... so this gives trading opportunities for the patient as well. (I've range traded this decently for years.. and always keep a core holding here too.. and have topped up twice in recent months at what I believe are lowly s/p levels...)
Raven - the simple answer re: the UK market is the sheer cost of compliance to obtain and maintain the GB-GC license. They would need to get a compliant sportsbook , then build teams to review KYC / AML / RG / CDD / EDD etc. Plus customer protection of funds - it is a huge undertaking in a saturated market. Competition is tight, share of wallet hard to obtain without significant marketing investment - Google PPC costs per click of >$100 for words like "sports betting". lots of barriers to entry.
Yes taser you are correct on all points .aintree grand national coming up shedloads gambled why can’t watch and wager have a satellite website in the uk taking money on this the site run similarly to quinnbet in Ireland a company making massive profit on relatively small turnover but with a great business model. Webis is always parading the fact that they show the most sports throughout the world on their watch and wager site to gamble so why not utilise that content here they also have Isle of Man licence so that could get them a foothold in uk market Mind you another saving grace here has been the astronomical money gambled on this years Kentucky derby so vast I will not print it here but make you Google it I’m hoping for record profits this time round for Webis going forward as this is there bread and butter money aka the pari- mutuel money. The USA licences are definitely very valuable the states will need the tax revenue no question Webis totally undervalued now but need a proper plan Dyor That’s my take anyway gl
‘The holy grail in licences’…Do you get the feeling the market doesn’t agree.
One of the only betting firms I know that fails to make a profit year after year.
The reality is that the hoped for opening up of California disappeared with the failure of the proposal and it looks like the earliest date is 2026.
I am still fascinated by the valuation of £75m for the licences. There is a lot of wishful thinking there.
We need to sell up as soon as possible as we consistently lose money. There is value in the business and of course the licences but as a business looking for a buyer rather than being approached directly investor should temper their ambitions.
However, any gossip, rumours, information on interested parties has been thin on the ground to say the least.
Tumbleweed…..
Aka Entain are in talks to sell off numerous licences that they bought Into including the Netherlands as they grapple with affordability checks in uk and sluggish turnover and they said they want to concentrate on there fastest growing market the USA Webis have the holy grail in licences imo surely someone with gambling foresight has to step in here even a private equity fund to set up then list company on Nasdaq surely a no brainier or am I missing something read Entain news today if you like and correct me accordingly blistering cheap imo buy dyor
That's a pay day little bit for me here. Due a silly rise day !!!!
I'm close to adding more / averaging down here too...