Hi crookman thanks for the mention, I went heavy in on POG last week and clawed back a fair chunk of losses formed on this. So I thought what the hell I'll let it roll. I had a chance to go through the results video a few days ago. I'm all for honesty the BOD admit missed opportunity but they cannot get unlimited chances we cannot be here in another 3 years saying the same things. Anyway things looking good ahead USA legislation and why not look to Russia Brazil Macau or a take over so Yea may have options. Crooks I think your like me an old hand stuck in from the partygaming days I think we have a long road to unwind positions but who knows one day.
Bwin lost 20 % of its SP when the issues over Germany came about i wonder if we'll see such a recovery, great find though tipster I only just received the alert myself and saw your post already on here.
Guys not looking good, i can't see us getting back to a £1.00 which is scary as my average is way over that. If you look at year in year out results the SP mirrors the metrics in all areas, revenue EBIDTA etc etc. I feel like my plonker is being well and truly pulled by this CEO and the only time i felt something was going to change was with Spring Owl. But he we are being fed tripe telling us its sirloin, you can tell they have no answers because his bonus is not even linked to share price anymore. Maybe he'll link it to how near to 50P we can get so he get a bonus. I'm sitting down shortly to see if i take the hit on this and walk never to look back.
Good to see 30% increase in 888 share oh but hell i'm not in 888, i mistakenly thought market cap meant stability. Just shows though good management can produce results.
In medical terms to be Norberticided take two healthy individuals splice them together oust out the healthy cells dont feed the subject and the result.... Over 60,% weight loss.
Not to be too twee your preaching to the choir I dont think you'll get many Norbert defenders on here. There's been a serious lack of innovation for many years we can but hope soon there will be some changes at the top.
Crookman I think you suggested contacting Peter Reynolds thanks for the suggestion. Basically he made some interesting points . Bwin are at least 3 years ahead of competitors in dealing with the transition to regulated markets and behind he scenes have been leading this process, I presume being a front-runner incurs costs but you gain in experience. Obviously there was no reply or comment on lack of vision of the BOD in innovation I didn't expect any. One further point that could bear some discussion, he indicated a belief by large institutions in the business model by their willingness to loan capital. Bwin have no Issue in credit and the pokerstsrs takeover invovlved large capital injection. But here we have the issue SP indicates lack of confidence but lending shows confidence. Some views as always from others?
Hopefully Janus are building a stake so they can force a board change. I had a reply from shareholder services which was a self written e-mail from the director of communication, what I mean it wasn't just a standard reply format. Said pretty much poker is proving difficult along with Market regulations but sports betting is a main driver now and cost cutting is essential due to target Ebitda being met. I'm drafting a reply now mentioning these issues are within the last few years we have been on the slide from the week after merger. You can't sell ice creams and then complain they're too cold on your skin. I reaffirm this BOD do not have the innovative spirit to stay ahead of this market. They will slowly grind this company down and down. Being careful and methodical run libraries, this is online gaming it's meant to be flash.
I've e-mailed investor relations asking when we will be seeing a new CEO installed. WIll do absolutely nothing, i know, but posing the question made me feel better, lets see if they even bother to respond to a shareholder.
Buying in around 1.14 loss of over 25%. He must be itching to stick the boot in here. Come on Norbert do the decent thing you aren't the man for the job move on and screw another company up.
Looking through lots of trading update statements over the last few years i get the distinct impression the area this BOD get turned on about is this cost saving its mentioned high up in all of them. I mentioned to my wife today i'm going to save over £6,000 this year out of our expenses budget, "wow that's a holiday, how can you do that?" my answer: "by not going to work and spending money on petrol, car tax and lunches", its utter madness. In the UK we are a regulated market and people like a bet but i never saw one advert for BWIN over the world cup on our screens, Bet365, paddypower, mr green, but no BWIN. But, what i have heard is, large sponsorship deals with American Basketball teams where SPORTSBETTING IS ILLEGAL, you couldn't make this **** up. So along with many other i'm out today.
In line with expectations, whose expectations. If your expectations are year in year out loss in poker revenue for the last 6 years then they are in line. My expectations are for the BOD not to sit on their ars3s but to start this over promised turn around. The trading update was like a breakfast of porridge when I wanted a full English.
Crookman what a fantastic post. I think you in this one post have managed to convey a succinct and accurate strategy plan. I actually feel a little bit more confident in the fact they are doing the hard yards now to get a stable base in regulated markets. So rather than wild west markets, high in profits, we are going for the more staid solid markets that will allow a higher PE rate. I wonder why this type of communication does not originate from the CEO rather than a fellow BB member.
Malta that's 888 we're talking bpty, bit like the difference between Germany and Brazil. Seriously though according to the BWIN website videos, Norbert said 2013 was annus horriblus, we have to see some improvement, i don't think anyone's patience will stretch any further. A further disconnect between our peer 888 and our figures, will be very telling. I'm in though today 91p, which feels a bit of a dichotomy, but the world cup must have had an impact.
Kamel i personally feel that the issues are with the way BWIN does its business, but to say that the USA is not and cannot be profitable i can't agree with. The issues are with state by state legislation and the lack of player liquidity this has caused. The lawmakers themselves realise this and are trying to tie states together to give a great player pool. In its heyday with a full USA market partygaming were making $900 million a year. I know casinos in the USA looking at balance sheets look like horrendous investments but walk through Las Vegas and see the infrastructure and assets they own, this paints another picture. My feeling is yes there is money in gaming, that legislation will weed out smaller players, until only a few best of breed survive.Definitely an open federal wide USA is still the holy grail and the amounts mean a small percentage slice can mean serious money. Oh and one last thing just as with drinking smoking people gamble and the web has opened up online gaming and one by one state by state America will have those doors prized open.
Looking over at GKP todd kozel, who was like a tick is due to retire as the CEO, looking at the sentiment on this share mr turtleburger, you have got to go mate. You don't get 10years to make it work, looks a bit like the england team.... next competition we'll do it oh no the next one. With this CEO we will never make the necessary changes root and branch to compete in this market.
Welcome to the club. Made me laugh that line.
Crookman this may be a two edged sword, one issue is the marketing as a whole of online gaming, i saw a report where 50% of New Jersey residents did not know online gaming was now legal, another big player may bring in neede advertising revenue. Saying that this BOD cant make money when there is little competition so i do despair that with the big names as Full tilt back. What they have to do is get their act together and start innovating and acting like they have a right to market share
Possibly proxied their vote to Jason Ader but we don't get visibility of that from this RNS. Seems strange doesn't it Frankie.
I'm not sure if they've transfered their holdings or have sold the lot. Anybody got any more clariy according to the RNS they no longer hold any.