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Real-Time news about Betonsports (London Stock Exchange): 0 recent articles
|Betonsports Daily Update: Betonsports Plc is listed in the Support Services sector of the London Stock Exchange with ticker BSS. The last closing price for Betonsports was 265p.|
Betonsports Plc has a 4 week average price of - and a 12 week average price of -.
The 1 year high share price is - while the 1 year low share price is currently -.
There are currently 0 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Betonsports Plc is £0.
ONLINE GAMBLING EXEC DETAINED IN U.S.A.
BetOnSports chief delayed in transit
The week's news was off to a flying start Monday as reports appeared in the Telegraph that the high profile CEO of BetonSports, David Carruthers had been detained by US federal officials whilst in transit through the States on his way to Costa Rica. Carruthers is a British citizen and was travelling from the UK with his wife at the time.
A statement from the company released to the London Stock Exchange said it was "seeking clarification as to the basis of the detention" and a further announcement would be made when appropriate. The statement emphasised that the business continues to trade normally and that the Antigua-licenced gaming activities serviced in Costa Rica and Kuala Lumpur are operating as usual.
Shares in the i-gaming sector reacted negatively as the news hit the markets on Monday morning, with BetonSports suffering a drop at one point of over 20 percent. Sportingbet also fell over 10 percent while PartyGaming saw its share price fall 7.5 percent.
Analysts were at a loss to explain the developments. One suggested it was strange such a move should be made before any further legislation should have been made law. Another suggested the US Department of Justice might have a "beef" with BetonSports for "lots of reasons; telephone betting, advertising, the founder."
Carruthers has been a high-profile and outspoken proponent of the regulation of online gambling in the USA rather than prohibition, and was recently quoted as being confident that current moves to ban the industry would fail once the proposals reached the Senate.
BetOnSports is based offshore to prevent it from violating US gambling laws, though it does take bets from US citizens.
Last week the US House of Representatives passed HR 4411, the Internet Gambling Prohibition Act. The bill proposes a further crackdown on internet gambling, and has now been passed to the Senate. To become law, it must be passed by the Senate, where a backlog of legislation means it may never be debated.|
|bomfin: Happily holding and looking for a possible double in share price before year end. imho dyor|
|ladybird1: The trading review no worse than expected , if anything more optimistic. The unexplained demotion of the FD, tacked on the end, must be a worry and no doubt will be a negative on the share price.|
|qlder: Moogies, something to be aware of, appreciate your point in post 283 though.
Am sure we'll see the shorters come out and try to take advantage........
Bad run of results expose US sportsbooks
Market watchers are bracing themselves for the possibility of profits warnings from US-focused sportsbooks after the NFL regular season threw up an exceptionally bad run of results in favour of the favourites, eGaming Review has learned.
One source who refused to be named suggested the recent bad run could lead to a "rocky couple of months" for UK-listed companies with an exposure to the US sportsbook market.
UK-listed companies with such an exposure include BetonSports, Sportingbet and VIP-parent company Leisure & Gaming (L&G) among others.
The run of results in favour of the favourites has prompted much comment on US sports betting message boards, where one recent set of weekend results was termed "Black Sunday", after 12 out of 16 favourites "covered the spread".
The bad set of results mirrors the events of November 2004 when a bad run of NFL results led to BetonSports issuing a profit warning which prompted a collapse in its share price.
According to the source, such a bad run was described at the time as a "once in a decade event", but the fear is that a new template could be set in motion as regards the fate of the favourites in the NFL.
Such a change could possibly affect the long-term margins of US sportsbook operators, for whom betting on the NFL provides by far the largest slice of their income.|
|spaceparallax: Czar (presumably the online gambling czar?) - many thanks for this useful news. I was amazed by the massive reaction by the market in halving the share price and lost a packet. Having said that, feeling it rather an over-reaction I have held on presuming that a rational correction would take place. It's good to see some significant buys over the last few days; these seem to be supported by your feedback.
|nitinshori: Weren't there some optimists talking about how this was gonna go back through 1 pound really soon? Where are they now? As i said on results day, share price slashed but prospective PE has gone up. May be interested when it falls further.|
What 'E' are you using to calculate the PE ? - The Evo guestimate ? Perhaps the longs see more. (Hence the PE is the same).
Perhaps the longs like the increased leverage in the share.
(This was 150p with NAV 35p, it's now 85p with NAV 35p.) To extrapolate this idea to make it clearer - if the share price was 25p and the NAV was 35p - how important would the PE be ? (as long as it were positive!)
I've always thought most 'radio' ads are a waste of money anyway - they'll just have to look at what they can do. They could always 'buy' members via an aquisiation.
Happy to answer any 'questions' or 'points' made.
My view - the sell off was massively over done - the share should be trading nearer 100p. It's a great sector - the company looks in good shape (a little bit of 'legal hoops' to jump thro in the US - which is their biggest market - but that doesn't trouble me.)|
|nitinshori: Better stock to be in?
Major profit warning.
Forecasts cut by 60%.
Share price down 50%.
Management look foolish after last months announcement
Can't get new customers.
Need i go on.
Very risky to be in. Poor effort at a bounce today. I wish holders all the best but i'll only be in circa 35-40p. Look at the forecasts people. Why should this trade on 12 times reduced earnings forecasts now when it's prospective PE was LOWER before the warning. Nobody can give me a good answer to that one.|
|gammabod: Very Quick / Picture Frame
Yes - why would it not be ? They're not in a 'closed period' - he's just doing the sensible thing and slapping the market for dropping the share price too much.
Taking 50% off this company should be 'illegal' (not buying them down here). :)|
|nitinshori: Gambling group hit by Bush plans
Jim Armitage, Evening Standard
24 November 2004
BETONSPORTS, the online gambling group, today became the third company recently floated by stockbroker Evolution Beeson Gregory to suffer a major share price slump.
Evolution is facing a boycott from investors after dismal returns from fundraisings it conducted for Medical Solutions and Plant Health Care.
Today, Betonsports, which raised nearly £55m at flotation in July, issued a major profit warning that triggered a 51% slump in the share price. Floated at 140p, today it fell 81 1/2p to 79p.
Betonsports said a government crackdown on gambling in the US had caused radio stations to cancel about $10m-worth (£5.3m) of its advertising campaigns during the crucial American football season now under way.
The Costa Rica-based firm does most of its business in the US, where running a betting book is illegal, although gambling is not. The Bush government has been attempting to stamp out this anomoly by encouraging the media, especially radio stations, not to air gambling ads.
So-called 'cease and desist' notices were sent out by the Department of Justice to the media last year, but Betonsports only noticed the impact since starting its key American football season radio campaign last month, chief executive David Carruthers said.
Meanwhile, last Sunday Betonsports suffered a $3m loss on NFL games as 12 out of 14 matches went against the book.
'It was the worst day since Frankie Dettori rode all seven winners at Ascot in 1996,' said Carruthers.|
Betonsports share price data is direct from the London Stock Exchange