RE: RNS out22 Sep 2023 11:45
I think lets wait and see what the next few weeks bring. People writing this off and we don't know anything yet.
We need to see some numbers for StART to in part justify the acquisition price. And then numbers next year need to fully justify the acquisition price. Never mind valuations from third parties 12 months ago.
We need to know what the net profit/loss is for Madrid and London. We also need to know the warts and all of what that loan has cost the company.
If KPOP is to continue, and we can only assume it will with what info is out there currently (Frankfurt next year), we need to know what actions will be taken to avoid mistakes that have happened this year. There needs to be some accountability, and if it is that SBS are partly to blame, then that is on LVCG, because SBS is a key part to this puzzle, so it is LVCG's job to ensure SBS are more onboard and flexible, otherwise it all falls down, like we saw with London.
And we need to know what the plan is to fund the business into the new year. Presumably they are not rolling around in cash, based on the loan.
If BrickLive has not turned a profit again this year, I personally would like to see some of these assets sold off, to fund KPOP next year (provided line ups and tickets are visible well in advance). This seems like the obvious route to profitability to me.