888 Share Discussion Threads

[finkie] 27/1/2022 09:43

good post Dandigirl and i fully concur betting shops with difficult staff leaking roofs, business rates, difficult customers are a world away from their previous haven........

[dandigirl] 26/1/2022 12:35

Moreover, isn't there some scepticism about the move into betting shops?
888 has been an IT company.
Running betting shops is a new ball game for them - and they appear to have paid top dollar.
The longer they delay the RI the more the market will get to judge the wisdom of this purchase, one way or t'other.
More should be revealed q2.

[coxsmn] 26/1/2022 10:46

888 intend borrowing 2.1bn to fund the wmh acquisition. Then do a 500m capital raise at an 'appropriate time' to create a better long term capital structure. So wouldn't expect a dilution until share price is in a better place imho


In order to fund the Acquisition, 888 has obtained fully committed debt financing from J.P. Morgan, Morgan Stanley and Mediobanca of approximately GBP2.1 billion, which includes approximately GBP1.6 billion (equivalent) of term loans and approximately GBP500m (equivalent) of bridge loans/senior secured notes. 888 has also obtained a fully committed revolving credit facility of GBP150m.
-- To create a more beneficial long-term capital structure, 888 expects to raise approximately GBP500 million of gross proceeds by issuing new equity via a capital raise ("Capital Raise") to be undertaken at an appropriate time, such that pro forma net leverage ratio is under 4x.

[makinbuks] 25/1/2022 12:21

.....and indeed if they could find someone willing to lend it to them.

Very astute these guys and fully aware of the cost of capital

[dandigirl] 25/1/2022 10:26

it can't be taken off the table unless it can make a convincing case for addressing such debt by either cash flow and/or asset sales.
All should be revealed q2. Until then share price will languish IMV.

[adamb1978] 24/1/2022 18:40

dandigirl - I think you might be right, which is why I think they should take it off the table!

[dandigirl] 24/1/2022 15:33

IMV share price will not recover until RI out of the way.

[adamb1978] 24/1/2022 10:45

Good opportunity to add more IMO. Can't believe its at these levels.

I'm hoping that the board are re-considering the timing of the equity raise. They will be levered post the WHI acquisition, buts its a profitable cash generative business and doesnt need to raise equity at these valuations

[mvp1689] 24/1/2022 10:28

Ridiculous how the share price keeps dropping

[dandigirl] 20/1/2022 09:55

Full year results in March should include a big fat dividend.

bull: 888 already announced all will be revealed Q2.

[bulltradept] 18/1/2022 08:16

Been nice to see some idea on the funding though.

[adamb1978] 18/1/2022 08:12

I thought the update was as expected, and with the SI launch, Germany launch plus WHI acquisition, there's plenty of growth drivers. Valuation also very undemanding too

[bulltradept] 18/1/2022 07:53

Under whelming update.

[shaker44] 17/1/2022 23:44

Not sure the market would see it as back tracking to find a better alternative. Fund raising looks far less attractive after this long and persistent share price drop.

[its the oxman] 17/1/2022 23:39

Unfortunately co has stated there will be a capital raise in Q2. Can't see it back tracking now however difficult it is for the share price. Best to get it over and done with.

[adamb1978] 17/1/2022 18:55

Agreed Oxman, expect its the fundraising. Assume the TU confirms in-line tomorrow, I think is looking very cheap at current levels

I'd actually prefer them to run with a more levered balance sheet for a while than raise equity here. The company is cash generative so can prioritise debt reduction and then raise equity later

[the white house] 17/1/2022 16:24

You may well be, BetWay first up in the field have stated in abridged numbers that Nov & Dec have been strong, whereas Oct was weaker in the US

[its the oxman] 17/1/2022 13:42

Surely trading can't be that bad. Can only imagine fund raise is hanging heavy on this share.

[bulltradept] 14/1/2022 10:03

Could be a double bottom coming up, but I get your point..

[dandigirl] 12/1/2022 11:02

Have an awful feeling that it will be another lack-lustre/disappointing update.
Hope to be found wrong.

[mip55] 12/1/2022 07:04

888 (LSE: 888), one of the world's leading online betting and gaming companies, will announce a trading update for the three and twelve months ended 31 December 2021 on Tuesday 18 January 2022.

[doctor888] 10/1/2022 23:29

hxxps://news.worldcasinodirectory.com/push-gamings-new-888casino-partnership-significantly-enhances-exposure-in-key-markets-99037

[finkie] 05/1/2022 13:35

too high at 490p too

[bulltradept] 20/12/2021 12:04

Mmmmm too low surely?