Profit of US$ 0.72 million ( 0.21 million loss in 2019).25 Feb 2021 07:26
Webis is reporting a profit on the period of US$ 0.72 million (2019: loss of US$ 0.21 million). Turnaround of almost US$ 1 million in profit over the six months.
And most importantly this is what the Chairman is saying in the RNS today: "Many major large multi-national gambling entities continue to search for merger or acquisition of key assets in the USA. This is compounded due to the ongoing downturn in the industry, in the UK, where the affordability review is a very real threat to non-USA players, unlike our operation. On top of that the unfortunate economic impact of Covid-19 and other natural disasters has hastened the need for more taxes and duties in states, especially in California".
AND...
"the Board is fully aware of our licensed position in the USA and California in particular, and how this position can be leveraged to benefit shareholders. As a result, we have taken measures to protect our assets in the USA and will continue to do so as a priority. We stand in an enviable position as a licensed operator in the States, and in particularly in California, the fifth biggest economy in the world, and where we hold both an online licence and a license to operate retail operations at Cal Expo racetrack in Sacramento. Momentum continues to gather daily for regulated Sports Betting in numerous states, including California. At time of writing, the Board is confident that California will approve this measure no later than 2022, with many other major States actively operating by then".
i.e. Webis is looking even more interesting from a takeover perspective now.
Good luck, Brighty
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