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Yes 12m. My main concern is on future regulations on the display of vaping products. 88 vape have carved out a niche selling to value Conscience ex smokers, customers average age is in the 40 year olds bracket. Company has clearly not been Targeting underage groups. The product the company sells are the cheapest on the market and are normally displayed on the counter of various shops and supermarkets. The company also has a £10 million contract for the prison service and also is in discussion with the NHS with a similar deal. This has not been signed yet. I think new policy of banning disposables will be a positive Long-term. Short term, it's just a guessing game.
London South East (lse) are just making a guess if its a buy or sell. If the trade buy is near the bid price it will record it as a sell. I bought shares in the past and seen my trade on here and it was record has a sell. But most are correct indications from (lse) if it was a buy or sell.
Playtech states Total B2B opportunity.
Page 19 has the details of Playtechs possible USA market. http://www.investors.playtech.com/~/media/Files/P/Playtech-IR/results-reports-webcasts/2021/h1-2021-results-presentation-vfinal-2.pdf. Playtech makes 27% EBITDA margins on all revenue. Playtech believes there is a future opportunity of USA revenue of 3bn and if Playtech only makes half of the EBITDA margins of 27% i.e 13.5% its USA EBITDA would be 405m. 405m at 7.5 times could put a value of 3bn, 9.92p a share, on the USA side alone. This is all guesswork but Playtech has great properties and services that are needed in the USA and can be rapidly expanded. As someone said in the past "I like the stock"
Page 19 has the details of Playtechs possible USA market. http://www.investors.playtech.com/~/media/Files/P/Playtech-IR/results-reports-webcasts/2021/h1-2021-results-presentation-vfinal-2.pdf. Playtech makes 27% EBITDA margins on all revenue. Playtech believes its possible future USA revenue will be 3bn and if Playtech only make half of the EBITDA margins of 27% i.e 13.5% its USA EBITDA would be 405m. 405m at 7.5 times could put a value of 3bn, 9.92p a share, on the USA side alone. This is all guesswork but Playtech has great properties and services that are needed in the USA and can be rapidly expanded. As someone said in the past "I like the stock"
I valued the whole Playtech business at EBITDA at 7.5 times. Its EBITDA was 300m in 2020. Pre Pandemic 2019 Playtech EBITDA was 383m. At this 2019 EBITDA at 7.5 times, would value Playtech at 9.38p. 2021 half-year Net Debt is 677m 2.20p per share. Enterprise value including debt would be 7.18p + debt 2.20p = 9.38p. If we take the debt off, it will value the shares at a minimum of 7.20p. I'm voting against the bid as Xlmedia plc report said the illegal online gambling market in the USA is worth over 100bn. Over the next 5 to 10 years, a lot of this will become part of the legal transformation of online gambling in the USA. Playtech said in a report that Legal online gambling and services in The USA are going to be 39bn in 1 or 3 years. Playtech management hopes to capture 3bn of these sales in the USA. This could generate an extra EBITDA of 300m to 500m for Playtech.
Flutter paid around 7.5 EBITDA for Sisal. If Playtech's EBITDA was bought for this price it would value the Playtech shares at 7.45p.
You can sell your rights to the share offer and receive the difference of offer price 40p and the share price. In my case of 30,000 shares and I sell my rights or make it lapse on (1 to 26) I get 1153 shares and they sell my rights at market price and I recieve the difference of 230.60 pounds . 40p minus share price, lets guess at 60p is 20p profit.
In 2016 the Utilitywise made a payment of tax of 1.8m to HMRC In 2015 the Utilitywise made a payment of tax of 2.2m to HMRC In 2014 the Utilitywise made a payment of tax of 1.9m to HMRC, these payments out of cash flow indicate the inland revenue are accepting that Utilitywise are making around 8 to 9 million profit before tax.