||EPS - Basic
||Market Cap (m)
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Cryptologic Share Discussion Threads
Showing 201 to 222 of 225 messages
|Thought this might have tanked with the news from Thailand
|Can anyone give me a brief summary of what is going on here? TIA.|
|Yep - just hope we get some money if someone decides to buy it. You never know, some US company might want to buy the s/w platform for their own use in addition to doing a joint platform deal with 888, PRTY etc.|
|No comment as this company continues to collapse saved by a bid|
|32% fall today and nobody the slightest bit interested. Always doomed.|
|CryptoLogic losses rise
|Given the write up here no wonder it has fallen so far
|RNS has the wrong results - what a mess.|
May 12, 2009
US online gaming moves are anything but a sure-fire betDominic Walsh: Tempus
The Bill introduced last week by Barney Frank, chairman of the US House of Representatives Financial Services Committee, has been greeted as the first step in the inevitable dismantling of the laws introduced in October 2006 banning internet gambling. It has put some impetus behind the share prices of the likes of PartyGaming, Sportingbet and 888 but investors banking on the ban being repealed quickly and the London-listed operators hitting the jackpot as licences are doled out would do well to tread cautiously.
Although Mr Frank is pushing for a vote before the August break, it is by no means certain to be passed. The anti-gambling lobby in the United States is powerful and reversing the online gambling ban is unlikely to be top of the agenda for the Obama Administration, which has more pressing issues to sort out.
Yet even if Mr Frank gets his Bill passed there are suggestions that he could piggyback it on an unrelated economic stimulus package Bill it could be 18 months before it becomes law and there is no certainty that overseas operators will get licences. Although the recent landmark settlement between PartyGaming and the US authorities allowed the group to avoid prosecution, its admission for the first time that, before October 2006, it targeted American citizens, resulting in the processing of transactions that were "contrary to certain US laws", is hardly calculated to qualify it for a licence on the ground of probity. Moreover, only one of the group's four founding shareholders has negotiated individual settlements and there is no sign of the other three wanting to do so.
Both Sportingbet and 888 are still negotiating separate settlements, but are likely to have to make similar admissions of limited guilt to that by PartyGaming (although Sportingbet's situation is complicated by its involvement in sports betting).
The Frank proposals are also a long way from a free-for-all. James Hollins, an analyst at Daniel Stewart, reckons that the Bill is designed to allow individual states and Indian tribes to implement their own licences, granting a "carve-out" to states that do not want their citizens to have internet gambling.
Even if Mr Frank's Bill sails through, it is hard to envisage that the protectionism that is central to internet gambling bans all over the world will evaporate suddenly. Nevada gaming revenues have just recorded their fifteenth consecutive monthly fall and the big Las Vegas operators, such as MGM Mirage and Harrah's Entertainment, are unlikely to sit idly by as a lucrative new source of revenue is handed to overseas companies.
They may choose to tap into their expertise by acquiring the likes of PartyGaming, although their dire finances look ill-equipped to lead industry consolidation. The most likely scenario is that the Las Vegas operators will rush to sign licensing deals with overseas companies to gain access to the technology and operating know-how that they lack.|
|Link to Barney Franks bill - full text
City gambles on online betting mergersComments (0) There is a growing school of thought which believes that the online gaming sector is ripe for consolidation.
Mergers between existing operators could lead to substantial savings, given the widespread duplication of operating and software costs. And it is also possible that gaming companies without a major online presence could be tempted into jumping into the market through acquisition. However it is unclear whether any moves will be made before any settlements with the US Department of Justice over the longstanding disputes relating to the various companies previous US activities.
In a 12 page note on possible deals - concentrating on online operators targeting rivals - Evolution Securities analyst Ivor Jones said:
"Long talked about, we believe the sector will start to consolidate soon.
"Current trading news across the sector is, by and large, not great. The recession and increasing secular maturity are combining to deflate near-term growth expectations. The longer-term benefits of deregulation are still some way off. When merger and acquisition [activity] starts there is likely to be rush of deals by companies which don't want to be left behind and we expect share prices to rally rapidly. Investors who want to play the consolidation
theme should take positions now."
Evo's suggestion for the most interesting link-up is 888 taking on rival Sportingbet:
"Strategically this would bring together high quality casino and sports betting businesses. We would expect revenue benefits from cross-selling each product across the combined customer base. In addition Sportingbet pays third party royalties on its casino which could be eliminated as could the, relatively minor, amounts 888 is paying for its sports book. Geographically 888 is over-dependent on the over-competitive UK and the combination would give an improved channel for 888's UK cashflow to be invested in developing markets."
Next comes the possibility of PartyGaming adding Germany's Bwin :
"The biggest casino and poker operator combined with the biggest sport book (and substantial poker and casino business) would create a clear leader among the listed companies. Germany is the largest single market for both companies but Party's geographic footprint is westward, UK, Canada and France where Bwin points more east and south, Greece, Spain, Italy."
Another permutation could be Bwin buying 888:
"Similar to our comments on 888/Sportingbet, the casino/poker business gets bigger and gets a great sports book as a driver of traffic. The combined group would be much less dependent on the struggling UK and able to apply its increased cashflow to developing markets."
And then there is the suggestion of PartyGaming buying, not Bwin this time, but 888:
"The cost savings and combined casino, poker revenues would be material but we would see it as a priority to add a competitive sports betting product, something both companies have so far failed to do."
PartyGaming is currently 4.5p higher at 257.25p, valuing the business at just over £950m. 888 is worth around £360m at its present price of 104.75p, down 0.25p. Sportingbet has added 0.75p to 45p, giving it a market capitalisation of around £220m.|
I recently bought a small stake in CRP (UK) and hoping that the company might be taken over as a ready functioning s/w company (albeit with a rocky recent history).
Can any of you shed any light on the difference on buying the CRP (that is the UK listed shares) or the CRYP on the NASDAQ. Would I be beeter in topping up in UK or USA shares?
|what's up here today?|
|Cryptologic are moving their poker players to Boss Media next year
|JUST BOUGHT IN AND WISH ALL GOOD LUCK,IT LOOKS A VERY GOOD RIDE !!|
|Some coverage of the recent Marjong deal:
Not a lot of interest in this share I note. A pity as it has the potential to be a good solid earner with considerable upside.|
|Maybe be worth taking a look at Commercial Properties (CMPG). I have been following these for a few weeks and boy are they doing well. Bit better then these, even if it is just for short term gain.|
hey lowbrow, are you still in this?
I've been adding for a while and whilst that's been painful at times it looks like it's coming good at last. A lot of good things in the pipeline going forward that should continue to increase revenues.
If the US legislation is ever relaxed (if the Democrats get elected?) then we'll be in clover!|
|looks very interesting...|
|CryptoLogic, which provides software to gaming websites, including William Hill's, said it was moving its headquarters from Canada to Ireland and its primary listing from the Nasdaq to Aim.
Lewis Rose, the chief executive, said that as the company did not provide software to sports betting websites, he did not fear the US authorities. But he added: "It makes more sense to be close to the jurisdiction that embraces online gambling."
(Tail end of a Harry Wallop article in today's Telegraph, mostly to do with World Gaming)|