Member Info for rivaldo

....and there we have it last night:

"Result of New York Gaming Commission vote on Sports Betting:

The New York Gaming Commission today unanimously approved rules and regulations for licensing, opening and operating sports betting facilities across Upstate New York."

Sports betting is to be allowed at four upstate casinos “as soon as practical”.

No press coverage AFAICS mcco - just seems like some healthy demand and finally a lack of stock.

Moving up again today now.

Berenberg increase their target to 680p (from 640p) and say Buy:

Http://investing.thisismoney.co.uk/broker-views/

Peel Hunt reiterate their Buy and 520p target, whilst Finncap have a 450p target:

Http://investing.thisismoney.co.uk/broker-views/

Looking good - moving up 2.5p on just 60k shares traded, so perhaps not much stock around.

Completely oversold imho. This has the potential to double from here in quick time getting back towards previous levels as the markets realise that doubts were totally overdone and that the core business is trading extremely well.

Solid results. PBT of £25.5m is slightly ahead of forecasts, whilst the core 19.1p adjusted EPS is slightly behind (probably tax, though I haven't checked yet).

However, with over 90% recurring income the most interesting section is the outlook, which reads very, very nicely:

"These results represent another year of strong performance by the Company, with increased revenues, profits, cash flow and dividend levels. The demand for the products and services we provide continues to grow. Over the last 12 months we have reinvigorated our sales and marketing function which delivered a strong finish to the year with March, the final month of our financial year, recording the highest month of revenue in the year. We enter the new year with confidence, underpinned by a significantly larger pipeline of prospects than this time last year.

"The journey to Cloud adoption remains a long term trend and, as a result, our market opportunity is large and widening. We continue to invest in our cloud product offering, skills and organisational platform to ensure we are positioned to capitalise on this opportunity, and the Board is confident that strong growth will continue for many years into the future."

Terrific results - 29.3p EPS is well ahead of forecasts of 27p from Progressive Equity, as is the 8.5p dividend.

Year end net cash of £17.1m is way ahead of the forecast £9.9m.

And all this despite major restructuring, large acquisition integration etc.

The outlook is as positive as ever.

IGR always delivers.

Very keen 50,000 share buy at 13.5p before the close and causing the tick up - well above the 13p published offer price.

Well, well - Predictive Discovery have made a "significant" gold find in Ivory Coast:

Https://www.mining-journal.com/discovery/news/1364450/significant-ivory-coast-gold-find-confirmed

CAPD invested $350k in Predictive at 0.09c. The share price is now 0.17c (it initially rocketed 220% to above 0.3c), so CAPD have almost doubled their money in a matter of a month or two.

And I assume CAPD carried out the drilling too.

This is good to see - and a healthy 340,000 shares traded too.

Finncap reiterate their 180p target, raising their forecast to 6p EPS for this year.

They note "following the very successful capital markets day" that this acquisition gives IDEA the opportunity for cross-selling and accelerated organic growth.

Also that net debt/EBITDA remains very comfortably below 1x, implying that further acquisitions are possible as per leavers post above.

Good summary on Techmarketview:

Http://www.techmarketview.com/ukhotviews/archive/2019/06/10/ideagen-buys-again

"Monday 10 June 2019
Ideagen buys again

Fast-growing AIM-listed risk management software specialist Ideagen PLC has bought RegTec SaaS supplier Redland Solutions for £15.8m. This move is Ideagen’s fourth acquisition in the last ten months. The purchase is immediately earnings enhancing and is expected to add mid-single digit accretion within the current financial year.

Founded in 2001, Bromsgrove-based Redland has evolved from an IT services firm into a software business through the development of Insight, a Senior Manager & Certification Regime (SMCR) and individual employee competency SaaS platform for the financial services industry. Employing some 30 people, the company’s clients include Santander, Old Mutual, Legal and General, Nomura and Homeserve. Redland revenues for the year to 31 March 2019 were £3.6m with operating profits of £1.2m. Current Annual Recurring Revenue (ARR) is approximately £3m - an increase of 50% from April 2018.

Having delivered c.30% yoy improvements in both the top and bottom lines for its most recent financial year (see here), Ideagen would appear to be very much on a roll. Through the recent purchases of audit management specialist Morgan Kai, quality inspection software supplier InspectionXpert and environmental health, safety and quality platform provider Scannell Solutions, moreover, the company has also demonstrated its ability to acquire and integrate successfully risk management software businesses.

The purchase of financial services industry-focused Redland will not only further advance Ideagen’s position in one of its key vertical market sectors, but also contribute to the company’s continuing transition from a perpetual licence to a SaaS based subscription model. Ideagen management expects to generate 74% of revenues from recurring contracts by the end of 2020."

The AGM is coming up in a few days' time on 19th June, and judging by the "encouraging" start to 2019 it should be good.

In which case 1.84p EPS this year could be conservative.

There was a very positive and informative feature on RNWH in the "Updates and Ideas" section in SCSW on Saturday, concluding that:

"On a prospective P/E of just 10.8x, with excellent prospects of further growth, the shares look attractive".

Hopefully some meaningful buying will continue the recent uptrend, as imo RNWH is now extremely undervalued.

PTSG have just reported their successful winning of a tender for substantial works on one of the most iconic buildings in the country - the Blackpool Tower.

The winning of the contract has also been supplemented by continuing maintenance works for up to the next four years:

Https://www.ptsg.co.uk/news/building-access-specialists/ptsg-towers-above-competition-to-win-prestigious-contract-in-blackpool/

"PTSG towers above competition to win prestigious contract in Blackpool

Premier Technical Services Group PLC (PTSG) has completed the first phase of a major project for Blackpool Council, providing a series of vital repairs to Blackpool Tower.

Following an open tender process towards the end of 2018, specialists from PTSG Building Access Specialists Ltd (from the Group’s Edinburgh office) began working on the contract in January 2019. There were two main elements to the repair work. The first was the replacement and renewal of structural steelwork at the base of the tower.

There were two main considerations that PTSG had to keep in mind at all times:

All work was safety-critical due to the age of the tower.
As Blackpool Tower is a Grade I listed building, all work performed had to be approved by the heritage committee prior to being undertaken. Any parts of the structure that were renewed had to be replaced with like-for-like materials.

This was the first time some of the tower’s steel had been renewed or replaced, and crucial sections had corroded over its 125-year life span. Towards the end of Phase I, PTSG’s team was on site 24-hours a day for a full week to ensure crucial deadlines were being met and that the works were carried out uninterrupted, due to the significance to the overall structural integrity of the tower.

PTSG Building Access Specialists Ltd is now in the early stages of Phase II of the contract with Blackpool Council, which is to provide ongoing maintenance work for up to four years, with the contract being renewed after each one-year period."

Excellent and sizeable earnings-enhancing acquisition for £15.8m this morning - notably addressing compliance in the financial sector:

Https://uk.advfn.com/stock-market/london/ideagen-IDEA/share-news/Ideagen-PLC-Acquisition-of-Redland-Solutions-Ltd/80095290

Lots of recurring income, great cash generation and a blue chip client list:

- Insight is used by over 40 organisations including 7 FTSE 100 and 2 Fortune 100 companies
- Customers include Nomura, Santander, Investec, Hargreaves Lansdown, and Rathbones

As regards the above, today's Sunday Times reports that £1.2 billion will be the cost of fixing the UK's cladding problem re 70,000 flats:

Https://www.thetimes.co.uk/edition/news/owners-1-2bn-bill-to-fix-fire-risk-cladding-k3wc6kh0m

"For the first time, figures are available showing how many homes have “rainscreen” cladding. The construction intelligence firm Glenigan lists 1,138 private developments containing 75,485 flats — and that is only those built in the past six years. It is estimated that nearly 90% — or about 70,000 flats — are encased in flammable insulation or cladding."

"It would cost about £350m to replace the cladding expected to fail tests in the private blocks in the Glenigan data and a further £800m in buildings of any height. The data also includes 15,185 flats in council or housing association ownership."

Looks like New York state is on its way to approve sports betting too now:

Https://nypost.com/2019/06/06/ny-could-approve-sports-betting-next-week-just-not-on-mobile-devices/

Https://www.newyorkupstate.com/news/2019/06/new-york-could-approve-limited-sports-betting-next-week.html

"If the Gaming Commission approves its sports betting rules without amending them Monday, it will still take some time for the issuing and review of licenses. It is likely some of the sports books could be operating by mid- to late summer, and certainly in time for the upcoming football season."

:o)) Hi stef....

Up again today after a 244k buy. Hopefully more to come prior to the results next week.

Good to see the share price tick up on one small buy this morning. Perhaps an overhang has finally been cleared if stock is tighter now.

Regarding my previous post re the necessity for cladding repairs on 272 different high-rise buildings, the amount of potential work is phenomenal - for example, per this report, work on just 5 tower blocks will cost £90m:

Http://www.constructionmanagermagazine.com/news/cladding-replacement-costs-balloon-london-blocks/

"Now council documents show that Wates’ initial tender to replace the cladding and curtain wall and all associated works to the five tower blocks on the estate totals £89.7m. The work is expected to take 124 weeks."

8 out of 10 high-rise buildings are still covered in dangerous cladding which has to be removed per reports today:

Https://www.independent.co.uk/news/uk/politics/grenfell-tower-fire-material-high-rise-buildings-flat-block-a8946276.html

"The homes are in 272 different buildings, of which 164 are privately owned and 108 are social housing"