Member Info for Brighty1

Building nicely for a 4p to 5p close by end of play tomorrow, ahead of Wednesday morning when things will get very interesting if things pan out. Brighty.

Yes, that would be a temporary hitch but as Webis said in its recent RNS:
"Given the momentum in California and the success of sports betting in other States such as New Jersey, it now seems inevitable that licensed sports betting is coming to California, possibly as soon as 2021".
It's just a matter of time.....Here's to a positive outcome in Sacremento today. Have a great weekend and here's to next week. Brighty.

The small print says it all. The great news is that Webis is part of Phase 1 of the California legislation, so if this goes through on Tuesday night this is the game changer. Expect to see 4-5p Tues PM as positions are taken ahead of the meeting. Thereafter if Tuesday's decision is a yes then expect 6p on Wednesday with it climbing in to the 15p range pre November and a lot higher after that. However at anytime a bid could happen and the buy out value has to be many multiples of where we are now. All eyes on California on Tues.....
DYOR and have a great weekend. Brighty

More good news in their RNS is they extended their California lease until May 2025 with an option to 2030. Very smart. Now, having read the small print of the proposed legislation being put forward on Tuesday new entrants will have to pay $10 million dollars as a fee where as existing operators (such as Webis) will have their fees halved. This is clearly making Webis even more attractive to the big players.
Here is the wording from the RNS: "As shareholders are aware, the Board recently extended its lease on the Cal Expo racetrack to May 2025, with an option to extend until 2030. Given the momentum in California and the success of sports betting in other States such as New Jersey, it now seems inevitable that licensed sports betting is coming to California, possibly as soon as 2021, subject any impact that the current COVID-19 pandemic may have"

The small print as I see it is very very good news for webis. They are going to be part of phase 1 of the 3 year roll out in California. i.e. Horse tracks (that is Webis) and tribal casinos begin in Sept 2021 if approved and then voted for. See below:

As previously reported by Legal Sports Report, the amendments phase in online sports wagering over three years.

Beginning in September 2021, CA sports betting could take place onsite at tribal casinos and horse racetracks. A year later, online wagering may start with in-person registration. In September 2023, people in California can register remotely.

If approval goes through on Tuesday this is the game changer we have all waited for.

This is just the start of an exciting re-rate based on real news. The SP could be many many multiples when it is given the green light in California. Who wouldn't want to hold. No point in selling. It's going to be the share to watch not just over the coming days and weeks but up to and just after the November election to see if Webis is acquired by a significant player in the sector pre or post November. A deal could come at any time. Dyor and good luck. Brighty.

I think William Hill will be just one of a few suitors. The interim report last year hinted as much., see below It would be a good fit for William Hill as Webis would give them the much needed licence access to California. We will see.

"As a result, the company has had no shortage of informal offers from other interested parties in the space, specifically in the areas of software deals, strategic alliances and, at the operating company level only, mergers and even acquisition".

Upside 4-5p close on thurs. If vote goes in favour then Friday 6-8p i.e. 100% possible from here. Then the fun starts over the next 6-7 months with bids for Webis from the big players. Dyor but things panning out as expected so far.

If you read the interim report from last year it states:
"As a result, the company has had no shortage of informal offers from other interested parties in the space, specifically in the areas of software deals, strategic alliances and, at the operating company level only, mergers and even acquisition".

This is the full paragraph, below. Key points: informal discussions are / have taken place and Webis is talking up the value, which is good from the share holders perspective. i.e. webis is not going to be given away to the first bidder. This all bodes well for M&A , merger, partnerships, JVs etc Dyor and good luck.

"As expected, there is a huge focus on the USA as the land of opportunity for expanded gaming, especially with very tough competitive conditions for operators in many other jurisdictions, especially in the UK. As a result, the company has had no shortage of informal offers from other interested parties in the space, specifically in the areas of software deals, strategic alliances and, at the operating company level only, mergers and even acquisition. The Board continues to assess all these avenues for the benefit of shareholders but is aware that the increasing suite of USA licences, together with our USA established operations and relationships, have created a significant asset, and one that should not be undervalued. We will keep shareholders fully informed on developments in this area in line with market regulations".

The buying pressure on previous "news" indicates that this could be up to 4.5p by close on Thurs in readiness for a positive result on Fri. The difference is that this time there could be real news as opposed to just hope. Historically this has jumped from the 1p ish range up to 8p but if it closes at its current 3.44 price or higher then it promises to be a very very interesting Thursday afternoon and Friday morning. This is just the start of a re-rate based on real news, if the vote goes in our favour. It really will be fascinating to see if Webis is acquired by a big player in the sector pre or post November. Dyor and good luck. Brighty.

3.44 just paid with offer on 3.50. Heading up to 12 month high of just over 4 at this rate.
6p is on for Friday morning if vote in our favour and probably double digits after that. dyor but certainly moving as expected. Brighty

The William Hill news today of its £200 million war chest coupled with the possibility of a bidding war soon from various players should see this hit its 12 month high in the next few days and might take it past the 6p mark on Fri. Thereafter it could be in to double digits very quickly due to the small volume of shares in circulation. Ofcourse if a bid came in it would have to be over 25p min and that is just for starters (& that excludes the California opp). All to play for here. DYOR but looking very interesting for Thurs and Fri opening if all goes well. Brighty

But what if Mitchell, Reader and Parker don't read this forum as I suspect? Maybe we should do what some of the NCYT posters did and took it upon themselves to make contact with journalists and flag up the link of a small Cambridge company and the dex steroid as all the signs are that Parker, Mitchell and Reader are asleep at the wheel when it comes to publicising the ability of Sareum. Brighty

Web is the more likely for bids. Small mcap but with licences in several US states already Webis could be an option. Jim Mellon is the major shareholder and well connected. One to watch. The Times headline and story is interesting re USA - "William Hill is raising £200 million of new equity in a move that will strengthen its balance sheet and give it the firepower to step up the pace in America". Brighty

The headline in The Times is particularly interesting!! "William Hill is raising £200 million of new equity in a move that will strengthen its balance sheet and give it the firepower to step up the pace in America".
Bidding wars on the horizon for Web? Might not have to wait until November now......
Brighty

Check this in the William Hill announcement today in The Times below... Things going to start hotting up. Bids soon from the big boys??
"In America, where it is targeting a market worth an estimated $7.5 billion, it has built a 24 per cent market share and is planning to seek licences in all states planning to allow sports betting over the next 12 to 18 months."

Brighty

Rubbish. Don't believe this twaddle. These same people were forecasting just 1 month ago 0.14 to 8.625p by 2025 - a 5,500% rise! I have averaged down over the past 3 years on the back of Bill Smith and Ed Dawson's comments about the mcap being undervalued but actually all along its been jam tomorrow with a share price now down from 0.80 to 0.080. That is a huge decrease and certainly does not represent ANOTHER year of MAJOR progress. It represents another year of disaster for shareholders. What is about to happen on June 30th / July 1st will be a disaster for existing share holders. You will only benefit if you are a new shareholder from July 1st and I doubt very much that the share price will do anything other than retrace from its new share price on July 1st.

Ed Dawson and Bill Smith have overseen a decline in the PXOG share price over the last 3 years from 0.80 to 0.080. There is a very big chance of a rinse and repeat here. Take care if reinvesting in co's that do do share reorgs as it can often become an almost unlimited hole of averaging down in a death spiral which normally ends in tears.

RMM and others, the best way to get TM, JR and SP to read your views from the LSE board is to print the last 10 pages of posts and send by Royal Mail to Sareum Limited. Unit 2A, Langford Arch London Road, Pampisford Cambridge CB22 3FX. If we all do this we stand a better chance of making them aware of our genuine concerns. Load 100 posts per page and they have some serious reading to digest. Dont rely on someone else to do it. If we all do it it will register. Brighty.

I agree, first class post Basil. Director buying and the other ideas spot on. That would start the share price moving in the right direction. So why can't the ceo get it? At last someone on here not complaining but actually coming up with some ideas. You'll get shot down in flames no doubt but I like the proactive approach. Your Val mention worried me though. The Thoth guy who posts on here used to post about Val and it became my most expensive error. 30k down the drain. Brighty