Gvc Share Discussion Threads

[noujay] 16/1/2019 15:42

Perhaps one of the high quality non muppets might offer their thoughts on my question as to tomorrow's update?Best to all

[maddog68] 16/1/2019 15:26

some very arrogant poster's on herw.

[trentendboy] 16/1/2019 15:18

Muppet level is high all of a suddenSome high quality long term investors on this boardLong may it continue

[noujay] 16/1/2019 14:36

So what do people expect for tomorrow then, broadly speaking?

[nurdin] 16/1/2019 10:43

Thanks Noujay.The key question is,will this slow down the progress of state legislation now? And what happens to those states who have already legalised on line gambling in its various forms?

[essentialinvestor] 16/1/2019 09:59

So if it reaches the Supreme Court, with two new Trump appointments,..?

[mylands] 16/1/2019 09:17

Be interesting to see what is said about this latest report from the US on legal moves under the 1961 wire-act in tomorrow's trading statement.

As I have mentioned before, the trading statement needs to be good simply to tread water in these markets.

[plumdufit] 16/1/2019 07:23

Another Fester leitmotif ...

If any country was in the news you'd guarantee that dear Fest would pop up with:

'I was in (insert country)ON BUSINESS'

So you never know we may get a ..

I was in The House Of Commons ON BUSINESS'

At some point today.?

[plumdufit] 16/1/2019 06:56

At Three Towns Forum Festers old haunt it was always remarkable that EVERY TIME any local business was mentioned it 'just so happened' that Fester:

1. Was on first name terms with the owner

2. He enjoyed such a close relationship with them they openly discussed details of the business with him.

3. Most remarkable if all Fester just happened to be 'talking to' the person days before before.

'I WAS TALKING TO'

Don

Morgan

The Pier Manager

The Harbour Master

Owner of The Gresham

Owner of the Irish Bar

Waiter at the Curry House (in broken English)

Lads who did chocolate covered fruit on the pier. .

So im absolutely stunned and a little disappointed we haven't had a ..

'I WAS TALKING TO THERESA MAY'

You've let me down Fester, very poor indeed

[warik] 15/1/2019 18:44

GAMBLING STOCKS STUMBLE AS US REVERSES ONLINE BETTING RULING
(Sharecast News) - UK gambling stocks that have expanded across the Atlantic took a hit on Tuesday after the US Department of Justice moved to tighten regulations on online gambling.
The department's reversal of a 2011 ruling that the only form of online gambling classed as illegal was sports betting has resulted in William Hill, Paddy Power Betfair, GVC Holdings and 888 Holdings all dropping by between 1.5% and 7.6%.

The department's assertion that the 2011 ruling was a misinterpretation of the 1961 Wire Act will likely be tested in courts and could affect the sale of online state lottery tickets states and casinos that offer online gambling.

The move is a particular blow to UK outfits as several have already made deals to expand into the US market after a May ruling by the Supreme Court appeared to pave the way for legalised sports betting in a number of states, potentially even nationwide.

William Hill signed a 25-year sports betting deal with Eldorado Resorts in September for example, while GVC Holdings partnered with MGM Resorts to set up a US-based online betting platform.

UK gambling companies have found foreign expansion increasingly enticing after facing increased regulation at home, with the recent cap on stakes on fixed odds betting terminals in the UK expected to cut annual revenue by as much as £1.8bn.

The Department of Justice had been lobbied to reconsider the 2011 ruling by billionaire casino executive Sheldon Adelson, a close friend of President Donald Trump.

[popper joe] 15/1/2019 12:59

From Barclays:

We note that we value the US sports betting business of PPB to be worth £2 a share, we value GVC’s US sports betting business to be worth c. 99p a share, we value WMH US to be worth 54p a share and we value The Stars group’s US sports betting business to be worth $2 a share. However, we value these US sports businesses by focusing on the potential cash flows from sports betting, not online gaming (that is a potential upside to valuation) and given we do not think this ruling applies to sports betting, share price weakness should present a buying opportunity. We note the Department of Justice’s ruling appears to be related to the Wire Act applying to online gaming and suggests to us that cross-state gaming (e.g. cross state pooling of poker liquidity may be under pressure which is clearly bad for online gaming focused operators) but we don’t see (at this time) how this materially impacts US sports betting as the Wire Act already applies to product. Broadly, we think this is possibly worst news for The Stars Group out of the four companies we cover given the company’s exposure to online gaming but even then we do not view it as necessarily material.

[maddog68] 15/1/2019 12:38

bad news then ?

[frankiethecabbie] 15/1/2019 12:31

https://calvinayre.com/2019/01/15/business/us-doj-wire-act-applies-all-online-gambling/

[bookbroker] 15/1/2019 12:30

That front wheeler Sheldon Adelson!

[nurdin] 15/1/2019 12:20

Well summarised Noujay

[noujay] 15/1/2019 12:14

It's not a "gambling ban".This most meaningfully relates to inter state operations such as lotteries and poker (where they need liquidity to survive) but in terms of betting it seeks to ensure that states cannot market to, accept payments or bets from people outside of the regulated area. This is in place already in New Jersey for example where geo-location software controls whether you are within the regulated area.It does not affect states already regulated and operational.It is only an opinion and is not law. They also expect it to be tested legally.The origin of this is largely political via one of the GOP's largest donors who has a vested interest in keeping gaming offline.

[nurdin] 15/1/2019 12:05

It is just an opinion of a deputy judge surely.