The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Further to the record Gambling Commission (beating Ladbroles 17 million) fine - see below)
The inaccurate BBC reporting of fine obviously gives the impression the "fine" related to business in the UK alas not so
https://www.bbc.co.uk/news/business-65091257
at least ht Guardian put a bit of flesh on the skeleton
"Shares in 888 fall as it removes CEO and suspends Middle East VIP accounts " VIP accounts bet on credit.
https://www.theguardian.com/society/2023/jan/30/888s-middle-east-vip-gambling-accounts-suspended
"Lord Jon Mendelsohn" was allegedly "certainly quick off the block" to buy shares at the rock bottom "due to poor reporting " ? and other external "knowledgable sheep" followed ?
Public statement
WHG (International) Limited Public Statement
https://www.gamblingcommission.gov.uk/public-register/public-statement/detail/whg-international-limited-public-statement
this is very interesting
"Customer C was a winning customer who was allowed to place bets via the trading team with a lack of appropriate oversight. A lack of depth and frequency of ongoing account monitoring allowed the customer to place bets on behalf of unknown third parties posing a risk to the licensing objectives – the Licensee had information that strongly suggested Customer C was placing bets on behalf of others. The customer was in a winning position of circa £195,000 when the account was suspended in February 2021"
Now comparing "Hills" fine with "Ladbrokes" fine
-----------------------------------------
Entain to pay £17 million for regulatory failures
17 August 2022
https://www.gamblingcommission.gov.uk/news/article/entain-to-pay-gbp17-million-for-regulatory-failures
the statement below is very interesting.. what would be more interesting is how much did "Ladbrokes owners" shares drop the next day ? - It looks like they dropped around a mere 10%
The report continues ...."This is the second time this operator has fallen foul of rules in place to make gambling safer and crime free.
.................. “They should be aware that we will be monitoring them very carefully and further serious breaches will make the removal of their licence to operate a very real possibility. We expect better and consumers deserve better.” "
Eventually the penny will drop (into the slot machine) about the long term prospects of this share
Https://markets.ft.com/data/equities/tearsheet/forecasts?s=888:LSE
"Investors
The Group has clear plans to deliver long-term sustainable value creation for shareholders as we build an exciting platform for future growth through integration, market focus, and commitment to deleveraging."
https://ir.design-portfolio.co.uk/viewer/106/56600
Https://corporate.888.com/investors/shareholder-information/analyst-coverage/
Analysts covering 888 Holdings Plc
Company Analyst
Berenberg Benjamin Sandland-Taylor
BNP Paribas Exane Alistair Johnson
Deutsche Bank Simon Davies
Goodbody David Brohan
Investec Roberta Ciaccia
Jefferies James Wheatcroft
JP Morgan Estelle Weingrod
Numis Richard Stuber
Peel Hunt Ivor Jones
Published : 24/04/2023
https://www.allsop.co.uk/insights/april-2023-william-hill-commercial-auction/
he commercial auction team at Allsop are pleased to confirm our 100% success rate on 57 lots offered in their William Hill Auction. The online only auction on Thursday 20th May raised £9M.
All 57 properties were to be let on new leases and the majority had break options every three years.
Lot sizes ranged between £633,000 to £63,000 and yields from 3.3% to 15.6%. The average lot size was £157,000.
Geographically 45% of the value was in the North of England, 28% was in Scotland and 16% in London and the South East
Allsop have previously represented William Hill, selling lots in their December, March and February sales, this brings the total raised to £23m across the four auctions.
Sheep and their money are easily parted .. they could end up in a "sheep curry"
16-Jun-23 16:35:25 123.80 1,487,805 Sell* 123.90 124.40 2m UT
What is an uncrossing trade?
An uncrossing trade is where buyers on the bid and sellers on the ask match together in a single trade at the end of an auction period. The uncrossing trade shows up with the trade code “UT” on the London Stock Exchange.