888 Share Discussion Threads

[dandigirl] 31/3/2022 15:55

This can't go on. Have doubled shareholdings today to halve %age losses.

[coxsmn] 31/3/2022 14:22

Sp was over 400p when wmh acquisition was first announced. 888 paper now worth less than half.

[its the oxman] 31/3/2022 12:25

Gonna keep drifting till money raise is sorted.

[dandigirl] 29/3/2022 08:22

Into Africa we go. Hmm.

Hopefully news of the RI soon.

[km18] 14/3/2022 17:04

...from last year...

Company overview:
888 Holdings is a leading online betting and gaming company listed on the LSE since 2005. The ambition of the company is to build “state-of-the-art” entertainment products. The company’s strength is in its own technology, which provides the opportunity for quick adaptation to regulatory changes and enhanced safety for the customers. The company operates through 2 arms – B2C and B2B. The former is in the face of the 888 Brands and the latter is through Dragonfish. Dragonfish provides clients with a gaming platform and the opportunity to monetize their own brands. Growth is both organic and through acquisitions. Goodwill is less than 20% of total assets and has seen a significant impairment in 2020 – good news for new buyers!
Overall, fundamentals are good. Revenue is growing at 13% CAGR. Same cannot be said for the Net Income and EPS levels and we would love to see the old levels of profitability. ROCE is growing at 30.6%  CAGR reaching 21.6% in 2020. Gearing is negative as the company sits on a pile of cash from the pension surplus and forward-looking P/E ratio of 20.2 looks very tempting compared to the industry.
In early September the company released the interim results. Total revenue is up for the period is 38% ahead of H1 2020. A significant increase in marketing expenses (70%) did not get in the way of adjusted cash profits rising 39%. UK and Italy saw 57% and 82% growth respectively, whereas EMEA excluding them grew by a dismal 9%. UK, being the largest market for the group accounting for $223m of revenue is facing tough regulatory changes – limits on spin needs and ban of features speeding up play, which need to be implemented by 31/10/2021. USA, on the contrary, is easing the regulatory requirements for the gambling sector providing opportunities for the lost profits in UK to be balanced off and the company has signed a contract with Sports Illustrated. Peel Hunt has pencilled 29p of EPS for this year on the back of the Sports Illustrated partnership.

Short analysis:

Cash went up slightly
Net debt is negative, as cash covers debt levels
CA/CL = 0.94
Cash ratio = 0.62
Interest coverage = 14.78
P/S TTM = 2.33, which is better than the industry average
BV ps TTM = 43.3
Operating profit was at $62m
Gross profit Margin 66.7%...

...from WealthOracleAM

[londonmarket] 14/3/2022 12:08

888 could really do with clarification on WH acquisition. There is some confusion as to whether WH Intl. deal brings over the digital assets, I'm sure it does. If that is the case then 888 should be shouting from the rooftops. William Hills technology is far beyond what 888 have achieved, even from a simple user experience point of view. I've tried the 888 app, I've tried the WH app... I much prefer the WH app & website. They do need to announce what they're going to do with the stores.. although I can understand them not wanting to announce they're going to shut them all down before the deal is done (although I guess they've said they're going to keep them running?).

[dandigirl] 14/3/2022 08:28

The WH purchase isn’t liked much. This is a big move away from what was really an IT online business. 888 need to get on with it and demonstrate that it is beneficial to shareholders. Till then the jury is out and the share price will languish.

[adamb1978] 12/3/2022 20:12

Base7

I think thats the main thing holding the share price back, and in a huge way. PE for FY22 only just over 9x now. Wouldnt be any where close to that, absent the fundraising. I wonder whether they'll try to increase debt levels slightly and reduce the fundraising target given how much the share price has come off. The group throws off cash so can support debt. Then raise the remainder once markets have recovered.

Adam

[base7] 09/3/2022 11:43

Also concerns about funding completion of William Hill deal ,including £500mill raise

[adamb1978] 09/3/2022 08:43

Incredible where the share price is. PE is now around 10x

[dandigirl] 09/3/2022 08:35

Well, I understand why?, but not paying a dividend went down well. Not!

[doctor888] 07/3/2022 14:17

hxxps://www.businesswire.com/news/home/20220307005095/en/Bragg%E2%80%99s-ORYX-Gaming-Extends-888casino-Relationship-With-Spain-Launch

[the white house] 07/3/2022 13:50

199 just too low, ignore the negatives

[finkie] 02/3/2022 09:52

What’s the current eps figure here? Thanks.

[mip55] 01/3/2022 22:29

The Gambling Commission of the United Kingdom announced that it imposed a £9.4 million fine against online operator 888 over money laundering and social responsibility failings.https://www.gamblingnews.com/news/uk-gambling-commission-fines-888-with-12-6m/

[mip55] 24/2/2022 07:01

888 (LSE: 888), one of the world's leading online betting and gaming companies, will announce its Full Year Results for the year ended 31 December 2021 on Wednesday 9 March 2022.A presentation for analysts and investors will be held remotely at 9:30am on the day, hosted by CEO Itai Pazner and CFO Yariv Dafna.

[italianofacile] 18/2/2022 05:53

GC data shows slight decrease in online gambling in final months of 2021
17th February 2022 | By Nosa Omoigui

[italianofacile] 18/2/2022 05:50

The initial data supplied for the Covid-19 gambling statistics proved to be wrong after it was found that operator William Hill was supplying the Gambling Commission with incorrect information. This, the GC said, could lead to “regulatory consequences”.

[the white house] 09/2/2022 13:59

TidyAdded, long Sept @ 270App still gaining traction, strong new customer growth

[the white house] 01/2/2022 15:53

Hills app now one sharpest out there riding high at the moment up next to Ladbrokes, PP in the Apple store when previously 10 spots lower. Strong business Price way too low

[dandigirl] 28/1/2022 10:27

Yes, the market will get to judge the wisdom of this purchase, one way or t'other by 888.

[the white house] 27/1/2022 10:09

No, the Hills estate has been trimmed to mid only include profitable ones AND they are a strong upselling/cross selling point for online services. FanDuel etc who are online only in the US are opening sports books for this reason