Just one point to note where the report is wrong , bwin do hold a German license from the last round of issuance.
This year one, a few , or all of us have to either attend or call in and state how we all feel : Norbert had to go, and we start from there. Time for ******** on bb is passed we all need to say it when they have to listen , at the AGM.
Win.com sold and various others 50million euros recouped doesn't tell us what the spent. I could run any business where i spend £100 to get £50 back. Norbert speaking : we were late to this, late to that, no offerings etc etc. holy moly does he hear himself, its a disgrace. They are going to hit the UK market big time its only 5 years late.
I think the crux of this is not the average to low results but, the fact is we are treading water in a fast flowing river. Our competitors are releasing results with over 10% growth in revenue and ebitda so we are effectively losing 13%. They are unable to change course and are displaying poor judgement I think their days are numbered as a BOD. Our realistic hope for structural change is a merger where our lot are tasked with keeping the bins emptied and the building kept clean.
I wonder if it will be a bloodbath? I'm always amazed at how much the average human and investor can take before they explode, this BOD have to be asked some pretty severe questions not just by analysts going yawn, yawn what will be the key metrics etc etc. But us with an actual interest with our actual money in this should be asking how much longer are we seriously expected to watch this BOD take the company down?
To be fair they have been banging on about this for 3 years now. but the problem is lack of faith that any plans have been laid to deal with it if the worst happens. Me personally id have a backup plan and tell the market about it but I'm not a feckless genius on over a million poundS a year.
What does it say about BWIN and Germany?
Bwin have a capital fund which is gaming centric. They have just sold their entire stake in gaming realms which incorporates alchemy bet. I thought I'd have a look at the charts for gaming realm. Lon:gmr Bwin get involved at 700 p sold out this week at a profit ??? No 36 p it's like everything they touch turns toxic just how long are we to allow such monumental cock ups one after another and pay a million quid for the privilege. the law of averages would say they cannot fail in every venture but they seem to be able to do it.
It just shows how much 888 rate themselves 300 a share, if BWIN can replace the management and start changing the trend in revenue and profits then the pros in the company would come to the for. Exposure to the USA technology and collaboration all would add to any takeover case. But where we are is poor BOD vision reduced revenue etc etc. Anybody know how and when or if a shareholder can try to pass a vote of no confidence in a CEO or board? Its time for some of us if we want to see any change here to agitate for it.
I'm not sure guys,,,,, you dont get 23 million shares traded without some proper news. The other sobering item is this is what we can look forward to it the merger/ sale doesn't go through.
I don't think he's all there. Ignore I think is the best policy.
Have you got the link please.
Directorate change with Daniel Silvers did that mean he has left BWIN or just taken up an non exec role as well? Because he was the appointment by Springowl, if he has gone then that might infer an unloading of stock by Ader i suppose we will find out in an RNS tonight.
As per trading update: Discussions with third parties Further to the announcement made on 12 November 2014, the Group is continuing its discussions with several parties regarding a variety of potential business combinations with a view to creating additional value for bwin.party shareholders. Norbert probably thinks we should be grateful we've only seen a 60% reduction under his helm rather than a 90%.
I know i am doing it but can't help it...... so WH have run a slide rule over both 888 and BWIN according to the Sunday Times and have opted for an offer on 888. So now we are not only by shockingly poor management. 1.reducing in revenue 2. reducing in profit 3. capital expenditure that could be used for advertising marketing of their core product is being squandered on disastrous social gaming . 4. We are now so lacking in position and vision we are not even worth taking over. It must be time at the AGM for a motion for a change at the top. the latest RNS had me hoping but no just and Exec Director moving off sideways. I can't help feeling this is a double whammy every month lost to this BOD is where BWIN's competitors are running ahead and innovating in this space, i fear its years and months you will never get back.
http://www.gamingintelligence.com/people/30285-hot-50-2015-the-industry-elite .......... i want a recount where is Norbert ? oh yeah at the bottom, great at white elephant ideas, seriously though shows what good leadership can do for a company.
Autocorrect grrr not tinsel .....rather to ask.
Crookman this is why you make hay when the sun shines. You then have reserves in cash and gobble up competitors as they show weakness not our BOD they lurch from disaster to disaster. I'm going to attend the AGM this year I've got tinsel Norbert if he really feels he should carry on.
Guys when are we going to see a CEO change? This guy had got to go he has no vision wastes money on fanciful ideas when the core business is dying from a thousand cuts. I am currently the frog who is in the pot warming up slowly and doesn't jump out , my only hope is one day I wake up to a new board . Just how long can we give this guy? I was going to go through the last 5 yrs kpi's but I know it says reduces revenue increased savings just for a change could we see one set of results with some good news.I've been trying to contact Jason ader directly as I'm at the point I need to do something actively rather than passively sit by watching Norbert grind this company into nothing.
Rumours at £1.2 billion price at just over £1.45 a share for me this is not so good as my average is way above that. But i am a long term holder and have picked up the dividends over the years, hopefully an offer and some counteroffers will come in. I'm not prepared to add any more here ive been burnt way too many times on false horizons.