Ladbrokes Share Discussion Threads

[rcturner2] 22/4/2015 07:57

Terrible results.

[montyhedge] 22/4/2015 07:56

So is this a profits warning?

[longwell] 22/4/2015 07:53

reduction ion debt good and slowly improving digital looks like will be a long term ish play, didn't see any mention of dividend cut unless I am corrected.

[strathroyal] 21/4/2015 16:07

The problems in Ireland were noted in last year's accounts so it is good that they are taking decisive action in one step rather than let this bleed over a number of years. Likely to be a goodwill write down as a result but will obviously make Ladbrokes more attractive to PE companies.

[rcturner2] 21/4/2015 15:08

wow, so Ladbrokes Ireland is bankrupt

[neilyb675] 21/4/2015 14:36

Ladbrokes currently has 196 shops operating in the Republic of Ireland. The company employs 840 people in Ireland. Subject to the views of the examiner, the restructuring is likely to lead to redundancies at all levels of the operation with the number dependent on the outcome of the estate restructuring. Ladbrokes Digital and Telephone businesses are not impacted by this process.

[brummy_git] 21/4/2015 09:10

Remember investors are already baking in a dividend cut here - so rebasing to say a 4% yield shouldn't surprise anyone.

Also with net debt at 1.9x EBITDA, then Ladbrokes isn't exactly on its knees. In fact its traded debt is showing absolutely no signs of stress.

[longwell] 21/4/2015 09:00

little tree shake there, if rises nicely through day now expect positive news tomorrow.

[montyhedge] 21/4/2015 08:47

I reckon kitchen sink job, dividend cut or even passed. New broom will sweep clean.

[stephan1946] 21/4/2015 08:23

trent, point well made, Teddy Segi, is a master in this game, no doubt about that.

[trentendboy] 21/4/2015 08:16

If PTEC ever wanted a front end then buying lads is the simple option. They will now know the people and the business and what it is worth. A strong european brand and large customer base.

The online offering is a lot better after a slow start. It is true the new entrants took a chunk of the business but they should be able to compete especially in a POC era which means smaller competitors will struggle and may exit the market

[stephan1946] 21/4/2015 08:10

Trent, as you say, ptec are the ace in the hole, the surprise package that just might save the, "Magic sign"

[trentendboy] 21/4/2015 08:07

Figures may surprise on the upside. Should not underestimate the PTEC effect

[stephan1946] 21/4/2015 06:57

sorry woodhawk, I hope all your investments fail. That ok?.

[woodhawk] 20/4/2015 22:29

"As a private investor I hate to see other P.I.`s lose out"

Give it a rest, you fool no one. What you're concerned with is your own profit, just like everyone else.

[brummy_git] 20/4/2015 18:47

Thanks Stephan - Yes but what is the business worth? Only by calculating the fair value will you know whether to buy, hold or sell? 1p,50p, 100p or 150p & why?

[stephan1946] 20/4/2015 17:58

The magic is worth plenty, but the business; shops are often scruffy, betfred has taken a minimum 25% of customers by offering much better shops and odds. Online offering is, as you know, pitiful.

Ladbrokes is a classic private equity target, (under financed, clueless board, no sign of a takeover from within its sector) absolute certainty to be taken into private equity hands. Unfortunatly those same buyers, buy dogs that need re-training and therefore the price will not reflect the intrinsic value of Ladbrokes. Par for the course would be a bid of say, £1, then in 3-5 years after repair it would float again for £4.

[brummy_git] 20/4/2015 17:35

stephan - how much do you think the Ladbrokes brand is worth? William Hill currently trades on EV/EBITDA and EV/sales multiples of 10.2x and 2.1x respectively.

[stephan1946] 20/4/2015 16:37

brummy, one race aint gonna make that much difference, lads is in big trouble, coutesy of..................Richard Glynn. Merlin himself couldn't stop this going south.

[brummy_git] 20/4/2015 16:29

Plenty of shorts that might need to cover their positions, if Wednesday's update is better than expected, say due to strong profits from Grand National, no dividend cut, improved digital LFLs, etc.

hxxp://shorttracker.co.uk/company/GB00B0ZSH635/all

[montyhedge] 20/4/2015 16:14

Shareprice talks, looks like disappointment coming. Going to be interesting.