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In the last RNS the board do comment on the proposed bills and they say the two tribe backed bills are restrictive and the two online proposals are”much more progressive.” There were four potential bills at the time of writing the RNS back in February. So Prop. 27 is the horse WEB are backing. Fingers crossed it passes!
“ On a more positive note, the other two potential bills are being worked on by key participants of the gaming industry of California. These bills are much more progressive in nature and will allow for the ability to offer mobile wagering as well as land-based facilities. These will dramatically increase revenues back to the State of California and, of course, provide equally important land-based and remote-based job opportunities in the State. Figures coming out of New Jersey and New York, which recently legalized mobile wagering, confirm our projections for rapid growth in this area. At present, we are fully engaged with our lobbyists in Sacramento to make legislatures understand the benefits of a truly democratic and competitive marketplace for sports wagering in California to the benefit of all stakeholders.”
My view, for what’s it’s worth, is that if either bill passes it is positive for WEB from a sentiment point of view. Clearly the tribe’s bill is less attractive to WEB but I think it still shows a start of legalisation so a move in the right direction in terms of liberalisation of gambling in California. If the online bill passes, I see that as massively positive for WEB. Yes parts of the bill are prohibitive from WEBs perspective($100mill license fee mainly) but I think this could be watered down in the courts(it certainly seems to go against competition laws). Even if it stayed I think they could realistically partner with a larger player. I think that’s their current plans, just my opinion, happy to hear other’s views.
I think people are being slowly robbed of the cheaper shares by the MM and their own impatience. I’d be amazed if the SP doesn’t rise from here in the lead up to November’s vote. We are also due news on the new Arizona contract which should give us a nice nudge upwards too.
Maybe. But I’d surprised if there was a placing, they haven’t done one in years.Plus there’s other ways to finance things, especially given our very wealthy largest shareholder.
Anyway if there’s any dip in SP, I’ll be taking full advantage as see funding for website development as very positive indeed
Thanks kfkmjl and Morbox for your thoughts. I would be very surprised if one of the bills is not passed in November. And even if it isn’t this time, it will get passed eventually. I think Webis is well placed and was delighted to hear of the expansion into another racetrack in the last RNS
What’s everyone’s thoughts on the upcoming vote in California on the two proposed bills likely to make it on to the November ballot. Is either bill passing good news for Webis? Or only the online bill supported by FanDuel, DraftKings etc. good news? Or do you see neither proposal as being good news, or indeed bad news? Appreciate everyone’s thoughts, I find it a complicated picture to judge
If NDA doesn’t come by year end no doubt the MM will take full advantage and send us down again. Very hopeful for a good ‘22 here though so nothing to worry about. Good luck all LTHs
Very disappointing end to the year. Looks pretty clear Mr. market wants to bring it down to support at 20-23p. Disappointing when the fundamentals look so strong. Here’s hoping for a better start to 2022
Who is everyone’s guess for the NDA? I’m going with AAQUA
UT of 35? Is that right? Bullish closing auction if so
https://www.bbc.co.uk/news/business-58964793
Positive news today. Surprised we are down so much in the last 2 days
Does almost seem like an agenda to keep the share price down. Just as we get some great news certain elements of the media start to increase the doom-mongering such as this article on the pension liabilities.
Genuinely don’t have a clue which way this is going now. Under-water, so think I’ll just hold and hope.
Naive question I know but if they raise further debt from the banks I take it the SP will fall on that news?
The shorts increasing has me a bit spooked. But maybe they have a few days to report changes in their positions?
However does look like a new short position added on Thursday which is a bit of a worry
This is great news but I still have the nagging thought of the rights issue pending. I’m keeping what I have in but not adding until I know the outcome of any fundraising.
This will help revenues a bit but furlough ending headlines will then follow next week and sentiment could sour again
What’s other people’s thoughts on a rights issue now given this latest news?
So which is it? Dead cat bounce OR the turning of the
tide? I’m really not sure. Rights issue or not of course is the big variable here.
So if 1 billion cash burn per quarter on last results. Then allow for the POSITIVE of increasing from
22% of pre-pandemic levels to(hopefully) 45% of those pre-pandemic levels vs the NEGATIVE of end of furlough = a slight increase in our loss, say 1.25 billion loss/quarter - WILD GUESS!) So we have 1.5 years of liquidity before we’re fooked? RI is in the balance, could go either way in my opinion.
Not ideal for my blood pressure!!
If rights issue is coming what’s the best way to play this. Sell now or hold and use the rights? So many variables here!!