888 Share Discussion Threads

[oneillshaun] 15/1/2019 10:00

New legal opinion could spell danger for igaming in US

The US Department of Justice has put forth a new legal opinion that says the Wire Act should apply to all forms of gambling and not only sports betting – potentially affecting other forms of igaming in the country that crosses state lines.

First reported by Online Poker Report, the opinion which has come from the DOJ’s Office of Legal Counsel could adversely affect daily fantasy sports, intrastate online casino and poker, online lottery sales and marketing across state lines for all types of gambling.

The DOJ’s new opinion replaces its 2011 iteration released under the Obama administration, which stated that the Wire Act only applied to sports betting.

The Wire Act originally emerged in 1961 and was designed to fight against organised crime by outlawing racing and sports betting across communications systems in the US. Controversy then reined concerning its scope when it was used in the 1990s to prosecute online gambling.

The OLC’s new opinion states: “While the Wire Act is not a model of artful drafting, we conclude that the words of the statute are sufficiently clear and that all but one of its prohibitions sweep beyond sports gambling. We further conclude that that the 2006 enactment of UIGEA (Unlawful Internet Gambling Enforcement Act) did not alter the scope of the Wire Act.”

[emacsapation] 15/1/2019 09:36

tree shake.........

[oneillshaun] 10/1/2019 09:21

888 is currently one on the only public companies making money in the US, i am expecting them to add on for Europe and buy somebody like LeoVegas maybe Betsson.

[trentendboy] 09/1/2019 18:53

I suspect that recent buying could be linked to future deals - someone always knows who is talking to who in this sector and 888 is really to be seen as an orphan asset

[bor491] 09/1/2019 15:57

when is the next trading update for 888?

[oneillshaun] 09/1/2019 14:11

So you insider moves you mean industry M&A? the share price is flying now.

[trentendboy] 09/1/2019 11:47

Sector is really generating news now - US opening rapidly, shortage of quality assets to buy, 888 bridesmaid never the bride, been a previous target and previous hunter

[oneillshaun] 09/1/2019 09:01

TrentEndBoy- enlighten us?

[trentendboy] 09/1/2019 08:29

Something is going down (not in share price terms)

Smells like insider moves

[trentendboy] 08/1/2019 19:10

Steady move this week - I suspect consolidation will kick in this year as US opensWell positioned

[pireric] 24/12/2018 12:16

Do 888 operate in Italy? Playtech reducing 2019 guidance after new gambling taxes passing a government vote over weekend

[speedsgh] 19/12/2018 16:17

Pre-Close Trading Update -

Graham Neary's (SCVR) take on todays update...

[oneillshaun] 11/12/2018 10:26

888 pays US$28m for remaining shares in All American Poker Network

888 has announced it has taken up the remaining 53 per cent of shares in the All American Poker Network, paying US$28m through its US subsidiaries.

The acquisition sees 888 US and 888 US Holdings take over the remaining interest from a joint venture established with Avenue OLG Entertainment in 2013, ahead of the launch the same year of the 888poker and 888casino brands in New Jersey. The latest move is designed to give the group independent control of its growth strategy in the US, including signing new partnerships and continuing to deploy its proprietary products and technology (both B2B and B2C) in new states as they regulate. The consideration of $28m will be satisfied all in cash, with US$10m payable immediately and the remainder due by March 31, 2019. Itai Frieberger, chief executive of 888, said: "The acquisition of the remaining stake in AAPN is an important strategic step towards 888 achieving its exciting long-term potential in the US. “Taking outright ownership of AAPN gives 888 additional operational, technological and commercial flexibility to develop innovative and exciting new partnerships and launch in new states – through both B2B and B2C channels – as and when future regulation allows. This acquisition places 888 in an even better position to take advantage of the significant growth opportunities in the US and create additional value for our shareholders.” Over recent months, 888 has strengthened its position in the US by launching 888sport in New Jersey and signing a sponsorship agreement with NFL club New York Jets.

[finkie] 12/11/2018 10:57

jees the fall from 320p for a cash rich company like this is quite shocking.....whether its really worth half as much as it was we will see.....

[oneillshaun] 31/10/2018 10:09

William Hill and Mr Green today what about 888 and Betsson!!!

Betsson has base in Sweden which would help 888 have less reliance on the UK market and other Grey markets.

Or even more exciting would be 888 buying LeoVegas.

[oneillshaun] 30/10/2018 09:15

UK Budget: Fresh wave of M&A igaming deals expected

The rise in Remote Gaming Duty in the UK will result in smaller operators selling up, according to industry analysts.

Chancellor of the exchequer Philip Hammond announced that RGD is to jump from 15 per cent to 21 per cent, making up the shortfall in Treasury income created by the reduction in maximum FOBT stakes from £100 to £2 as of next October.

Online sports betting and horse racing taxes remain unaffected by the increase.

Julian Buhagiar, co-founder of specialist gaming industry brokerage RB Capital, called the rate rise announcement “inevitable but disruptive” and expects to see dominant igaming operators claim even more market share as a result.

“The rise was not unexpected but this doesn’t take away from the further pain many UK-facing operators are going to have to prepare for,” Buhagiar said.

“In addition to the fallout from changes in Brexit-related legislation, this industry is constantly adapting to wave after wave of regulatory changes and, because of this announcement, some operators will feel like throwing in the towel.

“We’ve already seen a spate of mega deals with the likes of GVC and the Stars Group completing major M&A transactions. The rate rise will only mean one thing: that life will get tougher for smaller operators and they will either be forced to downsize UK operations, shift market focus elsewhere or sell to the highest bidder.

“We fully expect this Budget decision to be a catalyst for increased M&A which will start as early as the first quarter of next year, and for already dominant brands to further strengthen their positions by capitalising early on these buy-side opportunities.”;

Clive Hawkswood, CEO of the Remote Gambling Association, said in a statement that the UK was now “less attractive” to internet gambling companies and they would seek to make up for lost revenues by turning their attention abroad.

Meanwhile, the slashing of rates by a third for businesses with a rateable value of under £51,000 was generally given a guarded welcome.

However, John Webber, head of business rates at Colliers International, said that the changes do not address the need to help big retailers that have suffered recently.

"Most of the high street remains at the mercy of escalating business rates and the failure to address this issue will just mean the carnage on the high street will continue,” Webber said.



NY Court: DFS is gambling
The future of daily fantasy sports in New York is uncertain after the state Supreme Court ruled the games are gambling and violate the state’s constitution, the Rochester Democrat and Chronicle reported.

UK Budget: Online gaming operators suffer tax hike
The UK chancellor of the exchequer, Philip Hammond, has reaffirmed the crackdown on fixed odds betting terminals promised in the summer – but the resulting loss will be compensated for by an increase in Remote Gaming Duty.

Greentube live on Mr Green
Greentube is rolling out its casino content with igaming operator Mr Green.

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[oneillshaun] 24/10/2018 08:46

Sad thing is that nobody is look at acquiring any European gaming companies unless they have a deal that is huge in the US and right now 888 does not look very attractive.

[oohrogerpalmer] 23/10/2018 17:16

Wish I'd known about IC comments as I would have sold! !!
Would have had a much healthier looking portfolio.
Until US does open up more its going to be a long slow climb back.

[bulltradept] 23/10/2018 14:35

IC View
Shares fell on results day, and have lost a fifth of their value over the past 12 months as the sector undergoes both legislative liberation and restriction. But at 13 times forward earnings, the shares trade at a discount to their two-year historical trading average and the sector. With cash on the balance sheet and no debt, expansion plans look well funded too. But we want to see signs of progress in the US before turning bullish. Hold.

Last IC View: Hold, 279p, 21 Mar 2018

[coxsmn] 23/10/2018 13:09

Check my post 12526

[oneillshaun] 02/10/2018 09:31

prettygreen - i think right now if shareholders got 200p they would be happy this is sad 888 is one of the industry monsters.

[prettygreen] 01/10/2018 10:12

Surely this is takeover material at this price. Remember the board holding out for £3 a share .... if only

[cantrememberthis2] 27/9/2018 21:08

ooh
There is no mystery here.
Its been a wonderful short from 320p to 190p

The close was robbery because bid was around 195p and within 15minutes to close 191.5p...also late trades show large MMs mop up price at 190p

Oversold and blue day tomorrow.

No Debt
Xmas betting season coming up
888Sport in New Jersey just spun up

Game on.

I am going for some more... these shares are a punt IMO

DYOR - AII IMO