Member Info for KAMEL17

For my own part - I have never been supportive of this Board and the long term prospects for this company are in my view not at all strong. All that being said; there is a very real prospect of an upward spike on any genuinely good news and this in my view could result from three sources: A chamge in the Management Team, who are at present absolutely woeful. A takeover or meaningful merger. An upturn in trade- or at least an arrestment of the strong downward trends. The prospect of US markets becoming available is not as juicy as it once was and the earlier comments on the WPT (thanks crookman for posting) are more interesting than perhaps commercially advantageous. The prospects of either of these will however aid the current substantiation of the SP. Anything tangible will however offer short term boosts. In my view - something has to give before too long and given the trail of destruction of recent years I'm not sure that other than a confirmation that a takeover is dead that there is any bad news that is unexpected. For that reason alone I'm tenatively optimistic that there are short term gains here over the summer. As it stands holders who purchased at around the 80p level have in excess of 10% uplifts to consider what to do with. Good luck all.

Have they increaded iearnings by: a) cutting duffelturder and weingold salaries to the minimum wage (slightly more than they are worth.) b) errrmmmmm....................................................................... c) errrmmmmm.......................................................................... d) I give up! I hope you're right though.

Yeah! Are we the investors in the ACME Corporation though?

https://www.youtube.com/watch?v=LegEwiMGWas

havey, If you got your way this would probably lead to an immediate improvement in the SP. The truth of the matter is that 'duffelturder' as one previous poster called him seems to kept his post in a breath taking defiance of gravity. There must surely have been moves to jettison both him and the ever hapless Weingold over the years

I could not diasgree with you there. My own feeling is that there will be change shortly enough. The prospect of a full takeover is dissipating and a hybrid of partial asset sales and management changes seems more likely. Surely there must be change and the selection of the correct buy in price is of course fundamental. FWIW, I took the plunge at 77.75p with a view to seeing out the summer months and only time will tell if i should have settled for a quick 11% return instead. Something just tells me that when every analyst on the planet is indicating that they would not touch this with a sh***y stick that there is something more that the wishy washy takeover speculation allowing the SP to be artifiically maintained at levels that the fundamentals clearly do not appear to support. As ever, GLA.

http://seekingalpha.com/article/3121356-bwin-party-digital-entertainment-dont-buy-this-management-team The only thing is that I think someone will take a punt on this. My view is that this may well get to a quid before its eventual demise or takeover

Jacksparrow, I'd been fed somewhat similar information although the end of April was not mentioned. I do know that the staff morale has taken a hamering of late and that the management are fearful of losing their good employees. They have been happy to lose headcount to reduce the cost base however the prospect of losing a significant portion the more talented middle management is of real concern as they would be hard to replace. The employee communication has apparently never been good and most of the staff regard it as going through the motions rather than any real form of staff inclusion. The senior management are regarded as very poor with "butt covering" being a very common criticisim. The recent marketing campaign has apparently yielded some positive results, although how positive remains to be seen, and it will be interesting to see commentary on any results in the next interims. I remain invested until at least the end of the summer and I am tentaively hopeful of some movement,before then. The resistance level at around the 80p mark seems to be pretty solid. The recent market weakness did not have an adverse effect on the SP here and that must augur well.

Could have been better - there is clearly news to come over the next few months though. It may be an interesting summer here.

This is a somewhat strange development in that there has been a significant amount of TV advertising for Party Poker in the UK of late. Given the dire nature of the results from Poker and the focus on cost cutting this appears a little out of step for this Board. The poker business is in a likelihood operating at around breakeven at best ( It is difficult to know because the cost cuts may have occurred here more than elsewhere). For a Board who had neglected to advertise over a prolonged period, whilst it was still profitable, this seems counter intuitive. This appears to me to suggest that they need to fix this because there is no buyer for this part of the business (most likely IMHO) or that they have identified an opportunity to rectify an easy failing. An objective outsider can see that the benefits accrued to 888 / 32red and Hills from TV advertising were tangible and worthwhile. Even companies such as Betway, Supercasino and minnows such as Netbet etc. had TV presence and this just left Party out of the loop and trailing behind. This suggests to me that there is an appetite to fix it at long last. Whether this is in fact genuinely possible or worthwhile is another question entirely but at least there is a willingness. I for one was genuinely disappointed that PTEC have concentrated elsewhere and I'd always thought they would have had a say in the eventual outcome here. They may still be involved but it does seem an increasingly remote possibility. There must be a change here and I can only surmise at the current SP that the risk reward remains heavily in the stockholders' favour. I would caveat this by saying that if the current BoD wanted to go it alone from here there would be an immediate and probably permanent drop in the SP until change did occur. The market has no faith whatsoever in this BoD and without the security blanket of inevitable change through a takeover there would be enough stockholders making a path for the exit to test 70p and possibly even 60p. It will be interesting to see the effects of the advertising on player numbers once a suitable gestation period for the new marketing has passed though. It the advertising has no effect on player numbers then it could perhaps sign the death knell to any meaningful profit being generated from poker. On the flipside an upturn may quite quickly give potential suitors a taste of what could be done with the brand if effective marketing was put in place.

The collective wit and intelligence shown on this board by the Rangers fans, masquerading as investors, is notable by its absence. This Board is an absolute joke, populated by ill-educated idiots desperate to have the last word, who are seemingly incapable of conducting themselves in an even remotely courteous way. The cloak of anonymity allows these brain dead morons to peddle out the same regurgitated nonsense multiple times each day, only interspersed with bigotry, insults and utter lies dressed up as "fact" These shares are now of little, if any, value and whilst each and every spiv that has been in charge of Rangers had dipped the pockets of the ever faithful supporters this latest debacle has the real prospect of being the most spiv like of all. Ashley will get all of the meaningful assets and will rub his hands as he counts his cash before selecting his next weakling to pick upon, King is just a clown with no clue whatsoever and will be simply ratchet up this idiotic situation further. The delist is the first stage of a few that will result in a further liquidation. Liquidation is far worse than Administration but the genie is well ands truly out of the bottle now. There will be a few investors here with burnt fingers - however anyone who invested here for a long term gain was surely beyond mad anyway. Those who foresee a resurrection here should consider that the second coming has already taken place. Happy Easter.

Dibs61, I think that there will be many stockholders here with a similar view. The false dawn that occurred during 2014 clearly showed that the price is capable of very quick upward movements. The optimism of the BoD and the associated share purchases is perhaps not all that fundamental as the volumes were hardly large. It is now nearing the end of March and there has been no word on the resumption of testing ( previously advised to commence no earlier than late January). An even remotely upbeat update outside of the confines of the usual trading updates would send the price northwards very quickly. The volumes here are very small and the MM's are having it all their own way at the moment. This share has and will continue to demand patience. At the end of the day though - there is a very genuine upside if and when they manage to deliver. The other risk of course is that someone gets in there first with a product that fills the void and becomes the go to solution in the short term. Even if the solution is found that'd take the shine off any period where the pricing could be better without genuine competition. This would also place the company is a better position to be taken over if they actually managed to get to market first on an industrial scale. At present there are others who have solutions and it is not outwith the realms of possibility that the "boat could have sailed" before the are ready to deliver. I remain tentatively hopeful of a positive outcome here. Good luck with your holding

I thought i'd swing by and see if anyone here could recommend a football club to invest in. Regrettably QOS are not listed and Rangers appear to have hit the goldmine again with SPIV # (oh hell- I've lost count already) Brooks Mileson took Gretna to top from bottom league in a few seasons on a pittance and miniscule crowds compared to what this utter bunch of clowns have earned and wasted along the way. McCoist should hold his head in shame and this guy King is just an utter fud. Anyone who thinks King will preside over anything positive for shareholders is totally deluded.

crookman, I'd have to say that whilst in the past we have had differing opinions there is now almost nothing between our respective views. Your stated fear about the egos of the Board is well founded and may well be the immovable obstacle to a quick deal. The internal machinations of the relationships surrounding the Emerald Bay and SpringOwl holdings may have a very powerful say in the matter. I'd suspect if Ader's investment could be recovered then he'd cut and run in a heartbeat. sarajane What you say makes perfect sense - however rational thinking is not in abundance with the stewards of this company. The chairman should be looking after shareholders' interests and I'm not convinced that he may not suspect the route forward is not with the existing management team. As remote shareholders it is easy to be critical of a management team - especially in light of hideous results and underperformance however the criticism of this board is absolutely valid. In all fairness much of the problem arose from Party and the present incumbents and most notably the CEO are of Bwin origin. They just bit off more that they could chew and it imploded. From my perspective they needed Jim Ryan for Party more than any of these guys - however he had the smarts to see the writing on the wall didn't he? Any faith that may have existed in the current personnel disappeared after the debacle in NJ and in my view that faith is irretrievably gone now. Of course in fairness to myself - I never ever did have any faith in them. Well - I'm back in the saddle for another time and here's hoping that come the end of summer that I can have exited at north of a quid. IMV it is likely to take a while yet although fingers crossed for an RNS at any time of course If the talks collapse - there is not that much downside here now ( this IMV had not been the case prior to the publication of the results) Good luck all and especially to crookman and all of the other long suffering holders who deserve some good news

If the Amaya deal took five months with one purchaser and a relatively straightforward business - then four months down the track with multiple bidders/interests and a disjointed business model with many problematic strands there is really no comparison at all. This deal will inevitably be more complex in nature simply as a result of the many permutations that could arise. The clean EBITDA of circa.100m Euros has been maintained through cost reductions. The underlying weaknesses in both sales growth and the associated pressure on margins will continue. The results are however not as bad as many may have expected although it is clear that the poker business is now almost certainly only fixable by an utterly radical change and will struggle to even turn a profit in 2015. The trend of year on year declines of 30% is brutal. Even with cross fertilization of customers to the Casino - this is probably loss making already. If it made 7m Euro last year and LFL sales are 30% down then it is quickly going to become valueless on a standalone basis. Indeed it must have dropped significantly even in the four months. If Amaya could get it cheap enough they'd probably just close it altogether or migrate the customers to a new skin of either Full Tilt or Pokerstars at little cost. So the question for purchasers may be - What is the 90m Euro of contribution generated from the Sportsbook and Casino worth? To another operator with infrastructure in place - actually quite a lot. Bear in mind Hills offered @ £700m for 888 which contributes significantly less than this (and were told politely to go away). Of course 888 is well managed, trending in the right direction and would have been trouble free for Hills. Nonetheless that was the value attributed to it. 888 in its last set of full accounts made $50m or around €40mand courted and indeed rejected an offer of £700m Bpty currently does actually generate double this from the Sportsbook and Casino alone so it is arguable that the value would be £1.4bn less a 25% discount equating to £1.05bn or around £1.25 per share. The 25% discount is simply my estimation of the discount necessary to derisk a purchaser from the inevitable pile of problems it would inherit alongside this profit stream. The reliance on Germany is perhaps the biggest risk At the current SP this has surely got to be a tentative buy on the basis that the risk reward ratio is perhaps now in a buyers favour. Hold for up to 6 months and this will surely reward those holding. Once the current Board are ousted and a proper strategy put in place there is no reason that this could not be a worthwhile investment of £1bn or so to a good and competent owner. I’ve always thought PTEC.

to all holders here. if the markets are still jittery the volatility will be exacerbated either way. Hopefully the market will rebound a little and BPTY have something to announce or results are not as poor as expected and can get the trend over the last week reversed. One thing is for sure though - if the general market decline continues and a rather unloved and unwanted stock pitches up with bad news on such a day it'll certainly not be a pleasant ride for those holding. Who know though; maybe old turdshuffler will surprise us all. GLA wingnutter - unless you think I am absolutely crazy, I has a senior moment, my reference to win was misleading as I still think of only party and bwin as two distinct things - my reference to win should of course have said bwin and the star performers I referred to are the sportsbook and kalixa ( and not of course the pile of crap in the states that is probably not worthy of being a prize in a lucky bag). thanks for pointing out the misleading nature of my post though - it is appreciated.

win is the part of the business that the likes of Amaya, Playtech or even Hills may want as it operates in a space that they want to increase presence and whilst it is not particularly profit makingit could be bolted on to these other businesses and much of the cost base could be dispensed with

should have read i cannot however comprehend that a takeover of this business by multiple purchasers will not occur.

i cannot however comprehend that a takeover of this business by multiple purchasers, some of whom will purchase assets at nil premium / slight discount to allow the 'good' parts of the business to be sold at the same time. The only caveat here is whether this idiotic board may have delusional price expectations that jeopardise the route forward

wingnutter At the risk of sounding like a broken record - very few businesses can be as poorly managed as this one. This is and was my view 18 months ago and at that time I was rounded upon by the majority of this BB who werre all too busy dreaming of share pricesof £2-£3 by now and salivating over profits in NJ. My view is that this Management would not even be capable of operating NJ in a successful manner. A Board who are incapable of operating a business effectively are hugely unlikely to do a better job on an even bigger and more complicated business. This level of underlying failure to perform is still there by virtue of the same failure soaked personnel being in place. Any Board that underperforms to this staggering level will inevitably fail in the future. 'Win' together with the payment processing arms are the star performers however the latent threat from German tax regulation is a clear and present danger that may not come to anything -on the other hand it might and it has been identified as a risk. Moreover,a break up of the business may impact upon the payment processing revenues. The casino business has shown growth however the true impact of increased competition from Rational Group a resurgent 888 and from the inevitable competition from traditional gambling companies will force margins down. The poker business has been wrecked -it was third rate beforehand and imho no one will even want to buy this anyway. Bingo is less problematic but there is no USP and the revenues and margind will continue to deteroriate. The analysts concensus of 100m euros of clean EBITDA can only be bolstered by cost cutting - however the dowanward trend is likely to continue and the personnel losses will have an impact in terms of ongoing revenue creation despite the nonsense spouted by turdshuffler and co. The current price does include an element of expectation of a deal of some sort effecting necessary change. Without the anticipation of a change. whether by takeover or an internal clearout, the stockholders will be stomping at pace for the exit. 609 60p