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Meanwhile if we can kickstart Arizona and pick up some more licenses then we can at least be a profitable business.
Maybe they’ll get their acts together and come back in 2024 with a combined proposition that is a compromise to both parties and simpler for the voter to understand.
Basically we are being propped up due to their being no way to sell shares - took me ages in small chunks to acquire - now you can't get a quote for anything. It's still a profitable business, and will continue to grow and be supported by our private equity owners. Long term hold now.
Not a single county in the whole State has voted in favour of this Prop. Not sure where we go from here tbh.
Oh start learning to drive at 15 and a half!
Amazing, you can have a gun, smoke weed, drive at 16, but will need to leave the state to put a bet on via a mobile phone. Wow.
https://www.sacbee.com/news/politics-government/capitol-alert/article268285202.html
Seems like a resounding no. Not sure what I do know. Guess I’ll just hold till 2024. Not sure opinion will change that much by then
Sadly it looks like it’s a massive no this time around. Not sure where we go from here in the very short term. I still believe there is a lot of positive potential. Let’s see what their results read like
If it is like in the UK surely by sometime tomorrow.However, listening to an admittedly very pro-Trump supporting lawyer chatting on lbc... due to mail in votes etc.. it could take time.. well he mentioned weeks especially in California.
Although, perhaps a bit longer than tomorrow, even with counting all night, due to different ballots and votes going on simulataneously.California population is 39.24 million out of circa 332 million yanks.So a little less than uk pop, but illustrates why Cali will continue to be a battleground for gambling stakeholders still.
Anyway gla still etc...It ain't over til the fat bird sings.You never know!What do you think it will open up at if 1 prop passed?
Not that I hold any real hope of either Prop 26 or 27 passing but when do you think we will know the result? Tomorrow morning or in a few days time?
My read through from online commentary is if both fail , big online players will be forced to concede more to the tribes to get this working as, as far as i can work out the new big players in the market like Draftkings won't be willing to let this market go.I mean they have already spent a fortune on their advertising campaign.I guess back to the drawing board for them, but it will be a lot of work so no doubt we might hear about it before the next ballot hopefully.
Also i am assuming the tribes now will be definitely wanting more of this new market as opposed to spending and coming up with their proposition as more of a defensive move so far.There is sure alot of money on the table in California.
It will be interesting to see what our ceo says and to keep updated on what's happening even if disappointing in the short term.
Results due end of month should be update on Arizona & Californian
expecting progress albeit slower than expected….
Profit or maybe a small loss but news on future direction more important .
No news & significant loss could see share price drop so let’s hope for good news!
So it seems certain both Proposition 26 & 27 will fail in this years ballot. Where does that leave Webis? Will the legislative route be reactivated or is it tuck the shares in the bottom drawer and come back in 2024 when the next ballot is scheduled?
Also no news on getting Harness racing up and running at Arizona Downs - 5 year licence due to start 15th of this month.
This month was going to be life changing but it looks like being the same old same old
Yes, I agree. Next week is going to get interesting. There has been lots of M&A, licence chasing and consolidation going on in our sector in the USA during 2022. Webis is in the right place at the right time. This is what Denham Eke, Webis Chairman, said on the issue:
"USA regulated gaming is seen as the hottest subject at present in global gaming, and something of a gold rush both in the USA and, indeed, internationally. Non-USA and certain European companies are experiencing severe regulatory issues, as well as margin problems, and appear almost desperate to be a part of the developments in the USA. As a result, it should come as no surprise that WatchandWager continues to be courted by large corporations, and indeed smaller operations with a view to software deals, strategic alliances, mergers or even outright acquisition opportunities. Principally led by our Managing Director, the Board assesses each opportunity on a case-by-case basis. It should be noted in the majority of instances, the Board takes the view that "they need us more than we need them" and we continue to protect our USA licensed presence as a core asset. We are very aware of the increased consolidation in the industry and the economies of scale of strategic partnerships and will keep shareholders aware of any meaningful strategic developments with the Group, most likely in the USA, but possibly with international partnerships".
Time to keep a close eye on California.....
Good luck, Brighty
Let’s see what happens Monday/Tuesday!!
The polls suggest a negative result for both Proposals but you never know. I agree with previous post that Prop 26 would be the best result for us.
Topped up today. Doesn't take much to move this!
If it becomes more profitable in the meanwhile, surely it might deserve a bit of an boost as mcap is tiny.Anyway here's hoping that some good luck and something outta the blue comes the company's way!
The brilliant thing is it's not one of those companies that need huge amounts of shareholders' money and dilution every year to be able to carry on.
But looking at prop 26 and 27 looks that both are too entrenched to serve either native indians or big online casinos. Both have downsides and big opposition so seems because they cant agree one route that both will be defeated so i think this will be kicked into the long grass again. Anyone have any other feelings as if prop 26 happened webis should 5x at least and be quickly bought up but not sensing California are backing this positively. $100 projected tax revenue is quite low also for such a divisive sector.
I don’t see whether Webis makes a small profit or loss would have any bearing on a potential takeover or its valuation. The value is all in its licences which we are led to believe are worth multiples of the current company valuation even without an imminent positive California decision. I think Mellon will happily take an exit at the right price and it might not be long coming.
The results to end of May are due out in Nov. This will coincide with the CA decision. H2 is more favourable anyway in terms of revenue. Let’s hope that has translated onto bottom line. We need a profit to make us look like an attractive proposition for a big fish.
Which is surely why something needs to happen , sports betting is happening regardless of regulation, regulation brings better controls and tax revenues
This should never have gone to the polls but been a govt led initiative $400m spent on advertising alone for either party to attack each other’s adverts.
Glad Webis kept out of the fight but need some news from mgmt re direction end of November - sooner would be good very quiet…
Just think of all the tax revenue CA is losing by not getting something through each cycle …
Looking like it won't happen anytime soon ...unfortunately