Member Info for CJ39

I try not to think about the current share price, I’m here awaiting news from the strategy review. The last time I had a situating waiting on news I sold out at an increased price before news was released, waiting for the share price to drop to buy back in but news came and the share price rocketed and I was not holding shares, I missed out on so much profit.

Just got to ignore the share price for now, wait for the news before deciding whether to sell or hold.

Laura, don't waste your time and money on this dog of a share. When Theracryf (Evgen) started out in 2015, the share price was 31.5p per share. The share price today is 0.2p a share. Does that not tell you all you need to know about this company, it has been a disaster, they haven't got a clue. £10,000 of shares when it started out would be worth £63 now.

They developed a drug SFX-01 which looked to have potential but once they finally had the finished product they literally hit a brick wall and had no where to go with it. So now they are working on something else but they haven't got the resources or time to do anything.

In all 10 years that they have been in existence they have hardly generated any money themselves, they have relied on share placing after share placing. The shares are now so ridiculously diluted that it is impossible for anyone who previously invested here to make their money back.

They say they are funded until the end of the year but the last share placement was done I think 6 months earlier than what they said they were funded up until.

Sometime in the second half of this year there will be a share consolidation and yet another share placement to raise funds. This is one of the worst shares I ever remember. If you want to try and hit gold I recommend investing in Evoke, currently trading at 27p, I am as convinced as I can be that this is going to come good.

I know it may not feel the best time to buy shares with the Iran conflict causing the markets to fall but I don't personally see the Iran situation expanding or lasting too long. But now does feel a really good time to buy Aviva shares, the results were excellent last week, the best they have ever been and the divided qualifying date is only 2 weeks away and it is an increased divided of 26.2p per share which equates to 4.18% interest at today's share price (which when you consider Premium Bonds are 3.30% per annum from April, it is pretty impressive). Also you have to fancy once the Iran situation eases down that this will return back to £7 a share and beyond, so there is also a 10% ROI.

I think it is quite unbelievable what happened to SFX-01, they put so much time and resources into it and the tablets were finally produced and then it all went quiet. Juvenescence pulled out of a deal to use SFX-01 which Huw talked about as a positive thing at the time which says it all about him. Then the Stalicla deal which Huw said was transformational, well god knows what happened there but they don't even talk about it any more. I do wonder if it was a sham deal to raise the share price in order for a share placement?

I wonder where all those tablets they produced are? I bet they are almost out of date by now.

You still see people on this forum, new people who talk about this share being interesting or exciting, it is an absolute dud. They are funded only up until the end of the year, then what? They have no money incoming. Will it be a share consolidation and then a further share placing? Most likely.

To think there were people here calling those like myself and kingalf trolls for being so critical of this share, well we did try and warn you.

For the first time in many years I am starting to have doubts about Flutter and its prospects to be a huge money making machine. It seemed like they were on to a huge winner by being the biggest fish in what appeared to be the most lucrative sports betting/online gaming market in the world – the United States, but it is all starting to look extremely challenging.

Fan Duel spent a fortune in attracting new customers with generous sign up bonuses, free bets and promotions in order to secure punters. They were making a loss in the US market for so many years because of this but with the vision that eventually they would make large profits in the long run. However now it could all count for significantly less than originally thought. Punters in America have to pay tax on their winnings and many States are increasing these amounts. In Delaware, Rhode Island and New Hampshire punters are paying 50% tax on their winnings. Maine, Illinois, Nebraska, Florida, Mississippi, Texas, Idaho, Washington, Nevada punters are paying approx. on average 24% tax on their winnings. As a result it is no surprise that prediction markets are exploding where punters do not have to pay tax on winnings and Fan Duel are not the biggest player in this market.

Whilst in Europe it seems that leftist governments see taxing betting companies large amounts as a legitimate and fair way to raise much needed taxes. It is no wonder we have seen Flutter’s share price plummet from £230 to £80 in just 8 months, whilst Entain has dropped almost half from £10.31 to £5.78 in the last 8 months.

There is no doubt that both sports betting and online gaming (slots, blackjack, roulette and poker) are still hugely popular but these constant obstacles thrown at them is making this far less lucrative for operators.

I was keen to buy back in here at £77 this last week but I really don’t know now. Look at these latest results, a $407m loss in 2025. The market cap last summer was around £40,000,000,000. It is now £14,660,000,000 but you have to question is it really worth these enormous sums of money if it is recording losses and has so many challenges?

I think this share is best just watched for the time being.

I am definitely tempted to buy in at this price... but with it all kicking off in the middle east the markets may fall in the coming days so may wait for that to settle down.

MrMagorium, you are right that Entain does have operations globally whereas Evoke are heavily involved with the UK, however betting operators in North America and Europe are facing major problems of their own with some US States imposing enormous taxes and seeing punters turning away from betting sites to prediction markets. It is no surprise to see Draftkings’ and Flutter’s share price drop over 50% in the last 6 months, whilst Entain’s share price has dropped by 36%.

It seems that with most European countries becoming more and more skint and needing to raise taxes that sports betting companies are seen as easy targets to tax more and more. so although the UK betting operators have faced many obstacles in recent years, it is going the same way everywhere and you would like to think no further measures will be imposed on the UK betting industry for a long while after this increase in taxes they face in April.

You say that Evoke is sitting beneath a mountain of debt which is true but debt is normal for companies, Entain’s debt is twice as much and seemingly not a big issue as they have it under control.

Even if you feel you cannot compare Evoke and Entain who operate in the same industry sector, the fact is Evoke’s assets of 888 and WMH is worth somewhere between £2bn and £2.5bn and over the last 18 months Evoke have made profits of £293m before interest and tax and this is only increasing year on year. Evoke can service this debt, this is not a company that is about to fold. For Evoke to be valued at just £0.13 bn is a crazy cheap price and I cannot pass up on it. I would put a lot more money in it but 85% of comments and articles I read on Evoke are negative and it makes me question am I wrong in believing in this so much.

MrMagorium, it will be interesting to see who is right here, you say there is only limited potential upside whilst I am convinced there is enormous potential upside. The market cap of Evoke is £0.12bn whilst Entain who's share price has been taking a battering in recent months has a market cap of £3.8bn.

Comparing Evoke and Entain from the latest interim results: 6 months revenue: Entain = £2.57 bn, Evoke = £0.88 bn. Profit before interest and tax for the 6 months: Entain = £117.3m, Evoke = £103.5m. Net debt: Entain = £3.55bn, Evoke = £1.81bn. Profit/Loss after tax for the 6 months: Entain = Loss after tax = £116.9m, Evoke = Loss after tax = £64.7m.

Comparing the figures, why does Entain have a market cap 31 times that of Evoke? Evoke's only major issue is that they are paying far more than they can afford to pay back in finance costs but I am convinced they will be able to refinance this debt to pay lesser amounts but for longer. If they do that then Evoke will easily survive and this market cap of £0.12bn can increase well past £1.5bn.

If I am wrong here I will bow down to all the doubters and say you were right and I got it badly wrong and will really need to think about how I got this so wrong. But at this moment in time I just don't believe I am wrong here, I have never once got it wrong when it comes to gambling stock. I have put £10k in at an average of 25p a share. I absolutely do not want Evoke to sell any of their assets off, it would be foolish. They need to re-finance the debt and keep looking at streamlining the business, get rid of any loss making parts of the business, be more creative with marketing which they spent £268m on last year and look at how they can soften the blow of increase in taxes from April. IMO 26p for this share is crazy. Only 4 and a half years ago this reached £4.50 a share (which valued the company at £2bn) and if they keep their assets but manage the finances better it can return to those levels.

We will see who is right in time.

PP1969 it is a fair comment, you could well be right, only time will tell. I certainly thought the same as you before the Strategy Review RNS because the way it was going it looked doomed, something had to change but now they realise change is needed and working with 2 highly reputable financial advisory company's I think this can be turned around. I really don't think it is over but accept the challenges are considerable.

The one thing Evoke has going for them is that they are making huge profits before finance costs and tax. They have made £293m profit before interest and tax in the previous 18 months reported which is enormous, however they also spent £285.4m in finance costs in that period which is far too high for them, that is like paying your whole wage on your mortgage. Would you think it is over for Evoke if they can reduce their finance costs to pay lesser amounts but for longer? It is like my mortgage, if I was expected to pay £1500 a month for 15 years I would not be able to cope and would end up bankrupt but if I am expected to pay £750 per month for 30 years I should be fine if I have a job. If this is an option for Evoke then that would instantly transform their situation. But are there still further savings that can be made from their costs of sales (aside from gaming taxes) and the £268m spent on marketing? Could they cut that by £50m?

With regards to the tax increases, I would like to think there are ways Evoke can soften the blow by reducing promotions, lowering the odds by 5%, reducing the payout on slots by 5% and my big hope would be for all betting companies to charge a 4% tax on top of the stake to help cover the increase in taxes but that probably won't happen.

Then Evoke have two great assets in 888 and WMH which I believe must be worth £2.5bn in total, if they can get a good price for either 888, WMH, Mr Green or any of the foreign parts of the business that could help reduce their borrowings to re-finance the remaining debt.

There is definitely high risk here, there is no doubt this could fold and shareholders lose all their money but if they turn it around this share price will increase enormously from here. I am risking it, I don't want to miss out on an opportunity like this as these opportunities are few and far between. If I get it wrong and lose my £12k I will be fed up but it won't change my life in any way.

For me it depends whether they sell assets or refinance the debt. No doubt the best result for us is to not sell the assets. If they can pay back the debt at what they can afford to pay then I have no doubts that Evoke will eventually be worth between £1.5bn and £2bn. If they do resolve this do not sell too cheaply, this can get back towards £3 a share.

If they sell assets it depends how much they receive but it will severely limit the potential value of Evoke.

If they don’t find a solution then we will lose our money for sure.

Jimmy, this is a share I’ve been following for a long time but I only bought in after the Strategy Review RNS. My average is 24.5p.

I’m so convinced this will be turned around that I won’t be angry at myself for losing this money if I’m wrong as I just totally believe in it and I’d kick myself so much if I didn’t try and capitalise on this opportunity.

I love gambling stock, I mainly invest in Flutter and write on that message board and I’ve never once got it wrong.

I’ve bought more shares today to take my holding to 50k. The more and more I think about this share the more I’m convinced this will be turned around. I don’t even think it’s a difficult problem to resolve, they just simply need time re-finance the debt. The company who borrowed Evoke money made a mistake here too in lending Evoke beyond what Evoke were capable of repaying back, they just need to revise how much should be repaid each year and over how many additional years.

Evoke have made almost £300m profit before interest and tax in the last 18 months, they are a money making machine. What an opportunity this is that Evoke are valued at £0.11 billion when they are making that sort of money and own 888 and WMH (simply because they are saddled with debt that they can pay back). Entain has far more net debt and have a market cap 40 times that of Evoke despite their annual revenue being just three times Evoke’s. This is a golden opportunity I can’t pass up on. I will use the money I make here to buy a brand new Mini Cooper John Cooper Works car or a brand new Golf GTI.

It is disappointing to see the share price drop back from 30p to 25p in two days but I am not here for the short term, I am here because I believe Evoke will turn this around. My ideal outcome is that they re-finance the debt, pay more manageable amounts over a longer period of time, I don't want them so sell either 888 or WMH. Evoke have been making £200m profit a year before interest and tax, it is a money making machine, it is in the interest of the borrowers for Evoke to survive because there is no way they will get their money back if this goes into administration. It seems so obvious the answer lies with repaying the debt in a more affordable way.

With regards to the increase in tax that Evoke will pay from April, Evoke will need to cut back on promotions, lower the odds slightly, reduce the % payout on slots, and I personally would like to see sports betting companies charge a 4% or 5% tax on top of their stake on all online non-horse racing bets, I really believe punters will understand because of what Labour have forced on them.

I can't believe people think this is almost over, loads of companies carry huge debt but if they are making large profits they can pay it off. Entain has significantly more net debt than Evoke and manage it.

I am very confident I will be proved right here.

Pedro, long term this will prove to be an excellent buy in price, I have no doubts at some stage over the next couple of years this will be back over £200 a share but I am just not feeling it with this share right now, just feels it will go lower, question is how low? Wouldn't be surprised to see it in the £110s but cannot see it going below £100, that would be just too cheap. Let us know what you decide to do.

Good comment djwalls, I remember reading that gambling companies paid over a £1m to Labour in donations, you just hope the thinking was that they were worried Labour would hammer them on taxes so this would soften them up and indeed in Reeves' first budget she didn't touch gambling companies. But they have done now. But I still think gambling companies should work together on this - they should all come to an agreement to charge a tax on every bet placed online like the old days, something like 5% of the stake, I don't think punters will mind as they know Labour have forced them to do this. Online slots they can simply reduce the % payout but not much they can do with games like roulette and blackjack.

One thing is for sure is that these gambling companies are popular, a lot of people love betting on football and horses, whilst there are a lot of people who like betting on casino games and slots. Nothing is going to stop the popularity of these companies, these companies just need to adapt to the challenges the government keeps piling on them.

Upanddown, you may well be right and I 100% agreed with you prior to the Strategy Review announcement. The way it was going they were definitely going to fold but I think there is some hope now. The debt is enormous and I agree the deal to purchase WMH for £2bn was ludicrous, even criminal, how could they be so stupid to pay so much and not realise the finance costs on the enormous money they borrowed was too much for them to pay back?

However, they are now working with two of the best financial advisors to try and find a solution. The fact is Evoke does make enormous amounts of profit, almost £300m before interest and tax in the last 18 months. They also have two fantastic assets in 888 and WMH. This is not over, it is in the interest of the creditors to help Evoke survive in order to pay the money back that they owe. This debt needs re-financing at levels that they can afford to pay back. This share is full of risk but if they find a solution then this share price is crazy cheap, a market cap of £0.132bn compared to Entain's market cap of £4.30bn and Entain themselves have net debt of £3bn, whilst Evoke's net debt is £1.8bn. I think the risk is worth it, I've put £10k in at 25p a share, if it turns out I got it wrong I'll live with it, I will make up my losses elsewhere but I really think that can be turned around.

Nice to see the momentum turn here, it literally fell every day for 5 months. To say the debt here is a huge problem is an understatement but the fact Evoke have made £293m profit before interest and tax in the last 18 months shows that this is a proper business. They now have two of the very best financial advisors working with them to try and turn things around, surely the best financial advisors can help turn around a company making such huge profits with 2 amazing sports betting brands in 888 and WMH. Whether they need to re-finance the debt in a better way or sell some of the assets, both could offer an opportunity to changing Evoke's fortunes.

The key thing for me is the market cap. Entain which records 3 times the revenue of Evoke has a market cap of £4.37bn. Rank which owns Mecca Bingo and Grosvenor Casinos has a market cap of £0.47bn. Evoke's market cap is just £0.118bn. It is crazy cheap. If Evoke turn things around their market cap is worth £1bn and the rest. That is a share price of £2.34.

It is risky and of course it could all collapse but the share price is incredible. It was £4.50 a share four and a half years ago when they were 888. I believe they can turn this around and the share price can rocket from here.

No posts for over 5 months.

Flutter is one of my favourite shares to dip in and out of. I managed to buy in at around £161 last year and sell at £210 so made a nice profit. Share price has been falling for quite some time since getting to £230 last July. My thoughts on Flutter right now are not positive, I am just not feeling it with this share right now, I wouldn't have any interest in buying in at present at £144. I can see this falling down as far the £110 sort of figure before it may start improving. Gambling stocks are having a tough time of it, they really do get a rough time of it with leftist governments seeing these as a legitimate targets to tax like crazy. I don't see this reaching the £200 mark for some considerable time. Definitely one to watch but having followed Flutter for many years it is very much a momentum share and all of the momentum right now is downwards.

Pheny, yes I remember this was the most popular messageboard on this site for a while. There was without doubt a clique of posters who were ramping this share like crazy, some horrible arrogant guy called John even admitted he sold out before a big RNS came out. I am not sure if the Serbian mine was ever going to be mined, seemed like just an excuse to pay themselves wages whilst tests were being done forever and a day. Must have been over a decade ago now.

And if so, is anyone still here from those days?