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cJ I sold out at 120. Expecting this to fall back to 100p now. No not really that negative ....just reporting the closed branch here.
Based on what little I know about Californian politics, my gut told me that legislation wouldn't happen this year. I don't think the market was expecting our either, apart from the speculators over at on the webis company board (racetrack in California listed in the UK, and theoretical beneficiary of a legislative change in California). Personally, I think the law in California pushes people to Vegas where hills are strong to an extent. If I had to choose between California opening up and getting the Caesars access, I would take Caesars.
I think the biggest change from a few months ago is the uncertainty about the regulatory changes in the UK right now. Keep in mind this won't happen until late 2021 by my reckoning. I suspect the changes may target online (they already did retail via fobt machines, which took years) and may target casino betting.
Also, hills (along with the other big players) are getting out in front of this with actions like this:
William Hill matches finance sector screening capacity with Accuity
https://sbcnews.co.uk/technology/2020/07/08/william-hill-matches-finance-sector-screening-capacity-with-accuity/
Basically hills are front running any upcoming changes and demonstrating that they are doing everything they can to do the right thing.
The wmh share price is now basically following the FTSE 250. Compare the charts and you will see.
That’s a very negative take on it Peter. Do you not remember the trading update in May which said revenue was down just 50% and that was because people bet on table tennis and Belarus football. We still have horse racing to bet on and football from countries who’s leagues have just started - MLS, Japan and South Korea, the Scandinavian leagues. Add to that tour de France Is starting in late August, as does the snooker world championships.
The Californian bill was a long shot and the main vote would be November. It would have been good but it was a long shot for it to be approved therefore harsh to say it was a blow. Wmh has got the caesars sports books now and have the funds available to get more licences in the 35 other states who have not legalised sports betting. Don’t be such a pessimist. This share price is an amazing investment opportunity with enormous forward growth in share price. Looking forward to August’s half year figures and progress report. If you don’t like WMH as an investment why don’t you sell out?
My local shop is still closed and I dont think it will reopen. That leaves Coral here in a town on the South coast.....empty today. It is a small scruffy shop anyway.....no loss.
My biggest worry here is the online regulation and demands for more and more controls. This month new rules mean withdrawals can no longer be reversed. So if a person has a win they cannot be tempted to use the money to have another go. California sports betting was a big loss too. Rallied from about 107p before.....likely to be weak in August too with the premier league ending on 26 July. August will be a struggle with very little going on. I think we might see the share price hit then....furlough starts to end and so on. So unless the Dones get involved I see 100p here. Hills did well to get a placing away at 128p and i reckon it will get back there but not until september