Bidtimes Share Discussion Threads

[lbo] 16/3/2005 12:12

I know was updating my posting when you posted!

Trying to research what a failure Bidtimes has been...so its a work in progress!

Looking at the Isle of Capri (Nasdaq: ISLE) results shows that Blue Chip Casinos had net income of $1.86m in 2004 and was EBITDA positive of $26,000.

of note they also comment that Isle's strategy with Blue Chip is to pursue strategic locations and licensing, while gaining valuable operating experience in United Kingdom markets. This strategy will position the company for possible expansion upon the expected deregulation of gaming in the United Kingdom.

They also state that The Isle of Capri Casinos, Inc. acquired a two-thirds interest in Blue Chip Casinos, PLC on November 28, 2003. Blue Chip Casinos, PLC owns and operates pub-style casinos in Dudley and Wolverhampton, England.

[tonyx] 16/3/2005 12:05

But there are loans out against them.

[lbo] 16/3/2005 12:03

Hi gvaughan. The only value (if you can call it that!) seems to be in the 6 Barret Show homes in 2003 which they own and leased back to Barretts in the west mildands which from my research is due to be sold soon.

They bought them for £868,701 and financed them with an 85% Mortgage

Assuming only a conservative 10% rise in value pa over last two years would value them at £1m. (valued at £1.1m on open market at interim results)

Paying back the loan of £738,395 would give them a NAV of £361,604 and a 278% capital return on their initial £130k investment

Never mind the fact they have being producing an income of £35,000 pa ( £80,000 pa rent - Mortgage £45,000 pa)

Quote from the interim results "With 4 of the 6 showhome leaseback agreements maturing at the end of the year, the directors are currently reviewing a post Barratt's strategy for the Group"

[gvaughan] 16/3/2005 10:32

LBO - It appears the other equity holdings on the balance sheet as stated in the accounts are deliberately under valued.
If you apply your calculation of Blue Chip and my estimate of current valuation of Innobox and SRS then the NAV is more than the current mkt cap of £1.5m.

[topvest] 16/3/2005 09:50

Something seems to be going on here.

[cambium] 14/3/2005 10:53

the games begin again

[gvaughan] 14/3/2005 10:52

What are the MM's playing at ? They just in steps raised the bid all the way up 10p and back down to 8p in the space of about 2 mins.

[lbo] 11/3/2005 22:02

heard this discussed on echat the other day

then saw this in the daily mail


Elsewhere, Bidtimes shares soared almost 78% higher, up 4.38p to 10p on buy-out speculation after news the group's chief executive Russell Stevens has acquired 150,000 ordinary shares in the company, representing 0.86%, at 5.5p each. Stevens now holds 1,931,332 Bidtimes shares, representing a 11.12% stake.

[teapreacher] 11/3/2005 19:37

excitement over then?

[bigbigdave] 11/3/2005 12:33

We're off again

[mohamed99] 11/3/2005 08:25

15 short term

[cambium] 11/3/2005 08:17

come on guys lets be havin you

[cambium] 11/3/2005 08:12

so what is afoot

[topvest] 10/3/2005 21:08

Well it's all happening on this one today. Why the sudden activity? Maybe some news has crept out on their strategy post the Barratt show homes? Russell Stevens bought 250,000 a week ago as well. All in all, the prospects are very interesting.

[mohamed99] 10/3/2005 15:24

if not messing this will be higher then 14 p at this time

[alia] 10/3/2005 15:17

price will not move much untill after 4pm when traders will come back in for the morning rise

[cambium] 10/3/2005 15:09

and so the fireworks begin again

[mohamed99] 10/3/2005 15:05

good support at 9.87 . look at todays chart ...................................

[webbski3] 10/3/2005 14:39

Felix99.Thanks for MBH.

Do you have any thoughts on Northacre ?

[shawzie] 10/3/2005 14:18

webbski3
note from accounts for h/y to August 31 2004 - the directors value the investment in Blue Chip Casinos plc at £ 273,334 - cost of investment is £73,867 as shown in the balance sheet.