888 Share Discussion Threads

[frankiethecabbie] 19/11/2015 09:40

Something's brewing , William Hill rising as well

[tongosti] 17/11/2015 22:24

Thank you cyman. I do not necessarily mind buyers not being here at the moment as that is exactly one reason why I bought in (+ the technical and fundamental picture). Sure, one has to be patient in this game (which means that my price target has to wait for a while, unless something goes seriously wrong of course) but I don't think my £4 target is out of reach. My rationale: Over the last 10 years, sales have gone up about 5 times and so have profits (roughly). Tangible book has ranged from about £13mln to about £18mln during the same time. However, cumulative FCF over the same period has approached £300mln! This is unbelievable as the business has been a giant cash machine at almost zero incremental investment. Don't see this very often. Further, the (nominal) share price is pretty much where it was 10 years ago. Mind you, if you perform calculations on an inflation-adjusted basis (like one always should), then the share price is much lower than it was 10 years back. Nuts!Assuming no surprising external events, something has to give and I feel the share price has to catch up with underlying intrinsic value. I will certainly increase my bets once the uptrend resumes (in case there is a reversal I try to get out of the way until the uptrend is established. Have a good evening.

[cyman] 17/11/2015 21:09

Welcome tongostiNot many buyers left now as everyone has amalgamated. But Amaya had openly admitted some 10 or so months ago that they are ore to acquire 888. Share price has been tightly range bound since the bwin story died off. Everyone seems to be waiting for a catalyst to break the range. I do think your 4£ estimate is very optimistic with current market share and uncertainty stateside though

[tongosti] 17/11/2015 08:23

Opened up a position earlier. I have become aware of the latest developments over the last 12 months or so and this company is still very good value at current levels. Majority owners are right to hold back on any potential bid unless they're offered a fair deal. In my estimation, fair value exceeds £4 a share. FCF yield is one of the highest in the market amongst rock solid balance sheet companies. GLA

[frankiethecabbie] 11/11/2015 10:27

Think they are waiting for the go ahead from the regulators

[red imp] 11/11/2015 08:46

Paragraph 8 from Frankies find above: "Nothing about this deal makes sense".

I don't keep up with bwin events so does anyone know when their shareholder vote is re. the takeover?

[jamesjoel] 10/11/2015 19:24

Cheers Frank

[frankiethecabbie] 10/11/2015 18:03

They didn't do one last year just waited for the year end results

[jamesjoel] 10/11/2015 14:32

Any idea when the next update is anybody?

[tines] 30/10/2015 11:09

888 should be reporting interims soon.

[cyman] 24/10/2015 14:22

He clearly doesn't want to shut any doors. He could just have easily have same d that they have totally walked away from 888 and he didn't. All options remain open

[frankiethecabbie] 24/10/2015 11:36

Business News | Fri Oct 23, 2015 11:19am BST Related: BUSINESSWilliam Hill under pressure to raise its game after profit warningBY AASTHA AGNIHOTRIA profit warning that sent shares in William Hill (WMH.L) tumbling on Friday increased pressure on the British bookmaker to crack the whip on efforts to remain a frontrunner in a consolidating gambling sector.Tighter regulation and increasing gambling duties are squeezing William Hill and its rivals, but Britain's No.1 player at the start of the year has slipped down the pecking order after merger deals by Ladbrokes (LAD.L) and Betfair (BETF.L).The tougher environment and advances in mobile technology are changing the face of the industry, with physical bookmakers' shops closing as companies focus on boosting online sales."Strategy for me is very clear," William Hill Chief Executive James Henderson said on an investor call after the company announced that it expects full-year operating profit to be near the lower end of analysts' expectations of 290.9 million pounds to 312.1 million pounds."If there are opportunities that represent themselves from an M&A point of view, whether it be a bolt-on, technology or a big opportunity, then we'll look at it."The profit warning came after the company said that third-quarter performance had been hurt by 23 million pounds in additional gambling tax and a weaker than expected return on customers' bets.Shares in the company fell 7 percent at one point to a 16-month low of 321.3 pence.Net revenue was down 9 percent in the 13 weeks to Sept. 29 and operating profit slumped by 39 percent, William Hill said, noting that the corresponding period last year had benefited from strong betting on the month-long soccer World Cup tournament."Performance was weaker than our expectations across the board, impacted by weaker gross win margin than we had anticipated," Cenkos analyst Simon French wrote in a note.Rival Ladbrokes reported a 57 percent slump in earnings before interest and tax on Thursday, but investors focused on the company's strategy of developing its multi-channel offering, sending its shares up 6 percent.

[frankiethecabbie] 24/10/2015 00:37

RUSH TO JOIN MERGER MANIA, BUT KEEPING OPTIONS OPENSpeaking to analysts on Friday, CEO James Henderson said the slow online sports wagering growth was in part due to Hills' being preoccupied with the ongoing rollout of Project Trafalgar, the overhaul of Hills' online presence via an improved mobile experience, more responsive front end and personalized customer service. Henderson said the completed rollout will "hopefully translate into wagering increases."Henderson also said Hills was a "big scale player" that will be able to compete with the new Paddy Power-Betfair, Ladbrokes-Coral and GVC-Bwin.party behemoths. That said, Hills had an abortive flirtation with 888 Holdings earlier this year and Henderson said Hills would continue to "look at opportunities" to increase its scale "if there's a need."

[cyman] 23/10/2015 23:54

FittonAs much as I like the idea of what you say, I think it is unlikely, they had a try and got a very clear message and walked away. Funds are tight and financing may not be available to that level.But I have been wondering if Amaya might try their luck. They have previously admitted that this is something they would want to achieve. On the plus side everyone now knows what 888 will agree to sell for. The question is whether anyone is willing to pay that

[fitton] 23/10/2015 17:07

William Hill have already done a lot of the ground work with 888. They need to return to the table with a new offer £2.50 or above. It will be a very good test of there management. Online is the future, William Hill need to bite the bullet, pay the money and get on with making some real progress. I guess the only problem is the main shareholder in 888 may be asking for to much money. I think if they are going to make an offer it will have to be sooner rather than later.No reason for them to wait if they are interested.Lets see what the weekend press brings

[frankiethecabbie] 23/10/2015 08:45

William Hill have issued a profit warning this morning, they must surely be coming back with a revised offer soon .

[cyman] 21/10/2015 23:28

Anyone here expecting anything? Having stuck with 888 for the past few years I am left wondering a little what the future holds. All the competition have consolidated and 888 have set a high post for any sale which looks unattainable. USA is fairly quiet and any progress there seems years off. Interested to hear others views?

[frankiethecabbie] 19/10/2015 16:17

This could start a move upwards

[cyman] 13/10/2015 20:59

My fear is that they will try to go it alone

[jamesjoel] 13/10/2015 15:33

Yes it is Cyman surely some news coming soon or can 888 go it alone?