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I think 3.5 pence in the very near term is highly possible, this stock is now far too cheap. However, I am not adding further as I am already in very deep and am not greedy. Gambling is a business that will always be around and always be popular. This stock is worth £6 million only and there are potentially so many positives to get this price moving north. As more and more states open up to gambling it has to be positive for this stock, remember this share has tanked on no real bad news whatsoever.
Keep the faith all
WEB has been a terrific mover this year:
52 Week High 3.85
52 Week High Date 05-Jan-2022
52 Week Low 1.15
52 Week Low Date 29-Nov-2022
Personally I have been adding at 1.40p and below. !.25 was the lowest. We saw 6p last year when the calif vote was due and I see 3.5p as very likely next year. The news today is good even though we do not know any revenue details. Lower risk with a likely return of 150% next year or higher if a deal is done. No real funding issues and plenty of financial clout. Perfect punting stock (pun intended!).
Sorry, I missed off the word Monty in my post
Firstly, a rather negative reply in my opinion. The company did say that they were looking to invest in the betting system to improve our betting operation, which clearly this RNS adds credence. It is only a one year deal currently but a big step in the right direction.
They did say that takeovers and partnerships were always being explored and this clearly demonstrates their desire, and ambition to expand the betting network.
Although California currently was a damp squid, I do believe this position will be advanced going forward. People in California already bet out of state currently illegally, but I do think this is an opportunity for a revenue stream eventually will be too good to miss.
I understand your frustration at this time, but I am a very heavy investor in this stock and intend to remain a heavy holder. I strongly believe that 2023 will be a very positive year for Webis and the board. We all need to remain patient and wait for the solid foundation over a period to be realised!!
Onwards and upwards
I think the tribes are concerned on keeping their 'casino' monopoly so if they can reach a compromise where Sports Betting is allowed but slots and Casino games are not allowed on line (ie Sky Casino etc) then we my be able to move forward. More alliances like this today and an update on Arizona Downs is the way to keep interest alive and a slow uptick on the SP
Stand corrected Monty.
AGM in Jan, with possibly a TU?
Xophe - You seem confused “Results out next week” The results are out already and frankly rather poor. Lower revenue bigger cash burn. No sign the business model actually works at all for nearly a decade now.
Hopefully, if profitable and WEB do a good job, the contract may be extended for years to come.
Very good news and unexpected too. Well done to the team. Gulfstream and Santa Anita racing starts on Boxing Day. Does this mean we can start generating revenue immediately? Hope so.
2022 results probably be released next week too. And maybe an update of how first 6 months (jul - Dec) have compared.
Not showing here yet, bit of good news!
https://www.londonstockexchange.com/news-article/WEB/watchandwager-secures-monarch-content-agreement/15770747
The tribes won't let anyone else on their perceived patch, and the voters would prefer to break the monopoly of the tribes. Neither side is going to give way in the short term. Meanwhile the casino wheels keep spinning. A decent open market deal that might benefit Webis is years away. I doubt whether there is even a rainbow, let alone a crock of gold at the end of it.
https://www.gamingtoday.com/news/national-sportsbooks-only-california-option-tech-providers-san-manuel-band/
I read this and thought it presented a positive way forward and where Webis well positioned
Fingers crossed politicians, tribes etc can find a way forward
Looks like the next legislative session begins on Jan 3rd. Let’s see what happens.
State Senator get involved again? He tried in 2020, but pulled his sports betting amendment proposal before it entered the appropriations phase. The 2023-24 legislative session begins on 5/12/22. Let's hope he does and manages to put an inclusive proposal together.
Plenty of positives to take out of this RNS. I won’t be selling until the board agree a deal.
Just bought another £2k in my wife's ISA
If I'm going to have to wait another 24 months then I better start buying more. Just bought £900 worth and will keep adding as and when I can with profits from other shares (if I make any). Would be wrong to divert anymore 'direct' capital into the share as I've already invested over £88000
I could not agree with your post more, the only slight negative was a small loss. That aside, there is a lot to like about the RNS. They have seemingly got a 2 year plan, to double client numbers, but it still would appear that a merger or a tie up is very likely
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!!!