Gvc Share Discussion Threads

[mylands] 20/3/2018 08:15

Something pushing us down this morning? Interesting trade of 141k at 966.5165p went through at 8.11am. What's that about?

[loganair] 20/3/2018 07:41

Sorry it may have been a silly question, I'm known to ask them. I've just never been into a bookies or gambled.

[trentendboy] 20/3/2018 06:51

Did not want to point out the obvious

[festario] 19/3/2018 23:38

By the same ratio Logan air obviously is, because it's about playing roulette primarily, and the odds are fixed. Hence the name FOBT.

[loganair] 19/3/2018 20:21

Interestingly when I've been listening to people that gamble on the FBOT's it seems that the most important thing to them is the maximum amount they can win per spin rather then the amount of the bet.

So far I've heard nothing from the book makers how much the maximum amount one can win will go down by.

[coxsmn] 19/3/2018 20:09

Quite frankly a reduction from £100 to £30 is huge.

[mylands] 19/3/2018 20:04

I agree with Trent. £20 maximum, but possibly as low as £10.

[nurdin] 19/3/2018 19:37

The Government will, of course, have one eye on tax revenues.£30 should keep everyone happy..

[coxsmn] 19/3/2018 19:14

£30 is a sensible compromise. There's been a long consultation and this was the result.

[trentendboy] 19/3/2018 18:05

So when do the government make the decision? Got to be soon surely.My guess around 10 to 20 quid.Anything better than the dreaded 2

[loganair] 19/3/2018 17:26

GVC Holdings confirmed that it has successfully priced and allocated the debt financing package supporting its intended acquisition of Ladbrokes Coral.

The final sizing and pricing for the three tranches of the proposed 6 year First Lien Term Loan B includes EUR 625m at E+275 (0% floor) at 99.5, USD 800m at L+250 (1% floor) at 99.75 and GBP 275m at L+350 (0% floor) at 99.5.

The First Lien Term Loan B is accompanied by a new £550m multi-currency five year RCF priced at E+275 (0% floor). The availability of the First Lien Term Loan B and RCF are subject to successful completion of the acquisition of Ladbrokes Coral Group.

[woozle1] 19/3/2018 17:10

The market reaction tells that FOBT limits will be well below £30 min stated by the GVC, who made no mention about restricting the number of spins but have restricted the use of other games while players are in game>

So the formula is
0.141 of GVC (912 at the time of the offer)= 128p
+ 32.7 cash
+ 40.4 CVR (which the value of the payout at £30)

That would imply that LCL shares are worth £2.01 per share. Reading the statement from the GC, £30 is the upper limit of the range, leaving the Govt with the choice as to go much lower (to £2) and which is what the market thinks will be the case. See below.

With out any CVR, share are worth 162.7 and LCL currently trading at 177, implying the CVRs are worth around 15p, which implies a max stake of between £10-£20.

Who the hell knows what this govt. will do? The Treasury will want £30 but who knows what the Mail want!

w1

[loganair] 19/3/2018 13:33

The one thing that nobody has mentioned is the once every 20 second spin rate which I understand is almost as important at the amount that is actually bet.

[kop202] 19/3/2018 13:25

The Tories may not have called time on FOBT's but if Jeremy's crew get in they certainly will

[loganair] 19/3/2018 09:18

Mismanagement or poor management is usually the single biggest reason why any company does badly.

So far Kenny and his team seem to be good mangers, just look how quickly they turned round BWIN.

[woozle1] 19/3/2018 09:14

Not sure why the hedge funds are trying to be clever and playing the merge arb game here as the prospects for the combined entity are so good. The only concern I have is the debt level but I take comfort that GVC are "good at acquisitions" and that there is scope to improve LCL's under performing digital business. I also suspect that there is more work to be done to the retail and create mini casinos with more slots etc.

I bought LCL a while back around £1 and always expected to double my money as the business was so badly run and I've held GVC since the BPTY deal.
w1

[piwood] 19/3/2018 08:54

If set to £30 this would give an additional payment of cica 34p as per the scale set out in the takeover detail.

[mylands] 19/3/2018 08:53

With a £30 limit LADS shareholders will get an extra 40.4p. Kenny clearly believes there is very little diminution in LADS profitability at that level, as he is only prepared to pay another 2.4p if the limit is set at £50.

(Taken from Takeover Statement issued on 7 December, Appendix 1)

[nurdin] 19/3/2018 08:35

What I am interested to know is,what are brokers forecasts at Ladbrokes based on,2% or 30%? Suspect 2%, in which case GVC/Ladbroke earnings going forward will look very attractive if 30% is the ultimate result.

[loganair] 19/3/2018 08:12

As most pundits were saying it is looking like the FBOT's will be reduced to either £30 or £20, a good sitting on the fence number. Reducing to just £50 would have been seen as a cop out and £2 as being just that little bit too far.

[noujay] 19/3/2018 07:43

Good for Lads holders by the look of it

[frankiethecabbie] 19/3/2018 06:24

https://www.thetimes.co.uk/article/watchdog-backs-away-from-tough-betting-curbs-fpcn3fqn3

[fizzypop] 17/3/2018 18:54

GVC & Germany

hxxps://gamblingcompliance.com/premium-content/insights_analysis/gvc-bullish-germany-limits-exposure-ladbrokes-coral-deal?utm_source=Twitter&utm_medium=Social&utm_campaign=Story_of_the_week&utm_term=GVC%20Bullish%20Germany%20Limits%20Exposure%20Ladbrokes%20Coral%20Deal&utm_content=GamblingCompliance

[mylands] 15/3/2018 22:12

Short positions increasing again, now at 9.04%.