||EPS - Basic
||Market Cap (m)
Real-Time news about Gamingking (London Stock Exchange): 0 recent articles
|powwow: I'm not being funny, but over the years since 1999, this company has done what's its done today many times. They buy a company, but just before that, they pump the share price up, then suspend. Everytime they do this they are doing this because they have been unable to succeed in delivering value for shareholders. The management are a load of rubbish, they milk any rewards in the short term through pay and never produce any such value. Again its happened today. Talk about a broken record.|
|goldie40: agree with res 1606 the takings from the reel winner was only part as they were put out in small numbers over the last 6 months now paid for and in profit. roll out continus of the pub lotteries machines at a steady rate month by month increasing the profit, this time next year machines could be near the 1000 mark wth big profits and high cash flow expect to see this share to go higher and higher as the machines keep rolling out on sites the only way here for the share price is north as main number of shares tightly held|
|hotfinance14: Gamingking PLC
27 February 2007
The Company has noted the recent increase in its share price, but does not know
of any cause for this change. The Company can also confirm that it is not
currently involved in any negotiations with regard to takeover or merger
activity, nor has it recently been approached concerning the same.
Whilst it has not been Gamingking's policy to provide trading updates other than
at the release of full-year and interim results, the Company would like to take
the opportunity to issue an update at this time.
Trading conditions in the third quarter to 31 January continued to be
challenging. Sales for the period were lower than the same quarter in the
previous financial year. The Company has attempted to address this through a
restructure of our sales team, including additional recruitment, in an effort to
increase turnover and market share.
As communicated in our chairman's interim statement, the board has taken action
substantially to reduce overheads and in particular direct and indirect group
costs. The cost reduction programme will provide savings in the second half of
the current financial year.
Finally, with regard to projects and product development, the Company continues
to develop a number of new initiatives and product concepts. The Reel Winner (a
retro one-armed bandit redesigned as a lottery machine) is currently undergoing
trials in a number of clubs, and initial results are encouraging. It was also
exhibited at the ATEI show in London in January 2007, where it generated some
Whilst some uncertainty exists as to the regulatory regime under which the Reel
Winner will operate post September 2007, the Company is extending the range and
scope of these trials in the coming months. It is not, however, anticipated that
this (or other current product developments) will have a significant effect on
this year's financial performance.|
|eegus: We have also seen the recent share activity, but we are not aware of any specific reason behind it, and so cannot comment. We can however confirm that we do not intend to make an announcement of any sort in the near future.
As stated in our interim report, we have a couple of new products we are trying to bring to market. One of these, the Reel Winner (a retro one armed bandit which has been redesigned to act as a lottery machine), is currently undergoing trials which are progressing well. We still believe that this has a great deal of potential, and it was well received when exhibited at the ATEI in London last month.
In addition we continue rigorously to examine our corporate and other overhead with a view to reducing them where possible and appropriate.
We are also examining how and when we communicate with stakeholders, to ensure that we do not operate in an informational vacuum.
On the most basic level, my own belief is that if a company works hard on improving its financial performance, sooner or later the market will take notice and the share price will react accordingly.
I can add that I take note of the discussions on this and other boards, and that I welcome communication from shareholders on issues that they might wish to discuss. We will always reply as fully as possible (albeit in a manner consistent with disclosure requirements).
|marine boy: They are no spring chickens and I get the feeling that GGK is run by the old school tie brigade and a bit of an old boys network. I thought the appointment of Douglas Yates in March 2005 as the Non-executive Chairman was going to make a big difference as he was finance Director and Commercial Director of the Rank Group plc for over 15 years but the share price has continued to slide. I can never find the directors' remunerations in their annual reports so I suspect they would rather you didn't know. Their latest excuse for dissapointing H1 figures was warm weather - how pathetic is that. The smoking ban might hit the clubs a bit but I still can't see why a company that has doubled turnover in three years to over £5m is unable to scribble up much more than a £100k in profit.
Go to www.gamingking.co.uk for some info|
|marine boy: I don't think they have any share options or are at all bothered where
the share price goes. A hostile bid would certainly put a rocket
up 'em. I'm sure the 5000 + clubs they operate would be a good outlet for many a betting/ gambling company, perhaps one way an internet operator could have a high-street presence. The one thing they have in their favour is that they do
seem to have a mature approach to their finances but they also seem to lack dynamism and the share has floundered as a result.|
|marine boy: ARS announcement
The board of GGK has noticed the drop in share-price
over the last twelve months and basically couldn't give
a damn. However, it is aware of the situation regarding
internet gambling sites that operate in the USA and suggests
that investors that can't tell the difference between a duck,
have only themselves to blame.|
|cbrown: Looking now............ I should also say that I am just a logical investor and would not call myself an expert.
Had a look at TGM and on the face of it they only have to replicate the 2002, 2003 or 2004 profits to more than justify the current share price.
I have only had a quick look at various info and haven't yet seen why the share price is weak but I'm guessing maybe its because there is some doubt over renewal of some of their bigger Bus and Coach contracts?
However, even if this is the case 50% of NAV looks like a safeish level providing their own asset valuations are realistic and providing that the market place isn't currently overloaded with bus and coach operators. I guess the good thing about TGM, compared to say GGK, is that TGM's assets are tangible.
I would also say that logically the share price could well rise in the short term by 50 to 100% but is very unlikely to super multiply quickly because diversification and expansion I would think is a slow process in this sector because of both the capital expenditure required and the amount of competition.
This is just my of the cuff gut reaction formulated in 30 seconds of thinking time.
Okay, can now see impact of increased fuel costs and some restructuring costs. Perhaps more disposals are the way forward for TGM to make it leaner and fitter and to realise some of the asset value.
This looks very much like yet another stock that has very poor liquidity meaning often that price movements are exaggerated based on small volumes.
I think overall if you can pick up say 15 or 20 of such stocks that have been marked down too much but yet retain sound fundamentals or potential big business expansion this could be a good investment strategy and by holding a diverse portfolio it would be easier to ignore some of the shares dropping more in the short term on the basis that they are a good hold.|
|cbrown: Undervalued based on what? Unless growth and with it increased profitibilty can be confidently forecast then GGK can only be valued at 50% of its NAV at best which I calculate to be about 0.55p
The current £2.6M NAV is broken down as follows:
£1.34M in intangibles, which I assume is a valuation of web sites, the web site names, gaming licences, various other licences and exclusivity deals with customers, the ownership of gaming brand names etc. So this £1.34M is very much intangible and difficult to sell on if ever this was required.
£1.26M is in tangible fixed assets. Again, I assume these are lottery terminals, computer hardware, office equipment, company vehicles perhaps, possibly a small amount of property.
£0.43M in stock. A valuation of T Shirts, Lottery Materials, other merchandise etc
£0.61M in cash and securities.
£0.84M in debtors, this seems like a pretty high figure based on £5.29M of turnover and I'd be interested to know how much of this is just a rolling short term monthly/quarterly customer account settling effect and how much is long standing debtors? In other words, what is the real collection value of the £0.84M in debt?
£1.8M owed to Creditors. What rate of interest are GGK paying as this is a big debt for a small company?
If GGK really got into trouble I'd think that a rescue package buyer would probably only want to pay about 50% of the GGK valuation of their tangible and intangible assets which equals a share price of 0.55p (coincidentally all other items on the balance sheet net off) and in all fairness if you or I suddenly inherited £10M we also would probably only be willing to pay 50% of the NAV price for the whole company purely because return on capital has been very poor so far.
On the plus side cash and securities standing at £0.61M is I think a healthy and stable position to be in that will help enable the business to run smoothly and without too much financial stress for the next 12 months.|
|heidigynne: I'm with bonkers2 here, [and marineboy].
[Abstract from Chairmans Statement, Finals 30/04/05
"In March shareholders will undoubtedly have noticed an element of volatility in
the Company's share price. There would appear to have been no specific reason
for this share price movement or the trading of 210m shares within a narrow
So, disregarding the price anomaly;
Just follow the co. announcements through the year.
Progress has been steady and exactly as described 'on the can'.
The gaming frenzy [noted above] has passed and here is a co. that has done all that it has stated it will.
Gaming tho' has not gone away, and GGK's approach is [to me] well thought through and deliverable.
Directly approaching the Gaming Commission for vending outlet of lottery sales clarification [under the 2005 act] smacks of thinking management.
For me, medium term 'long'.
ps. [discrete cough],
'Madame', ['er indoors'] is not yet aware that her portfolio now includes a bespoke gaming co., hope 'twill be appreciated!|
Gamingking share price data is direct from the London Stock Exchange