Share Name Share Symbol Market Type Share ISIN Share Description
Ladbrokes Coral LSE:LCL London Ordinary Share GB00B0ZSH635 ORD 28 1/3P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 173.50 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 1,507.90 -213.30 -17.50 3,325
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 173.50 GBX

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Date Time Title Posts
23/3/201819:18Ladbrokes Coral - The New Magic Sign110

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woozle1: 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
mamcw: The table below sets out the value of each CVR based on various different levels of maximum stake as prescribed by any Possible Triennial Measures and has been agreed between Ladbrokes Coral and GVC. This table assumes that no Possible Triennial Measures are enacted other than in relation to maximum stakes. Maximum GBP2 GBP5 GBP10 GBP20 GBP30 GBP40 GBP50 Stake (Hard cap) -------------- ----- ------ ------ ------ ------ ------ ---------- Value per CVR 0.0p 13.4p 13.4p 30.3p 40.4p 40.5p 42.8p -------------- ----- ------ ------ ------ ------ ------ ---------- To the extent that any enacted Possible Triennial Measures provide for maximum stakes which are between any of the figures set out in the table above, the value of the CVR per Ladbrokes Coral share would be determined by linearly interpolating the relevant numbers.
dtaliadoros: Or is the price as good as it gets for now?
dtaliadoros: So at this price....can someone tell me what limit the market is expeating to be set on FOBT. If it's set at high end 50....can we expect a further premium on current share price?
loganair: GVC, would pay cash and shares under the takeover which would see Ladbrokes Coral investors own 46.5% of the combined group. Ladbrokes Coral would receive 32.7p in cash and 0.141 ordinary GVC shares for each Ladbrokes Coral share. It would also get a potential further value of up to 42.8p, depending on the outcome of the UK government’s Triennial Review into fixed-odds betting terminals (FOTBS) and its impact on profits. GVC expects the deal to boost earnings from its first full year after completion, even if the Government decides on the biggest possible curbs on gaming machines. Greg Johnson, an analyst at Shore Capital, said: "We see significant merits in the tie up notably from cost synergies, a more diverse geographic footprint and reduces the risk around UK regulation and machines in particular. "Against this it does bring in some geographic risk in GVC notably around Germany following the exit from Turkey, whilst the cash elements, we estimate worth £600m and £800m (max for the triennial review element), are more the comfortable from the existing balance sheet and future cash generation." Under UK regulation, GVC is required, by not later than 5pm on 4 January next year, to either announces its firm intention to make an offer for Ladbrokes Coral or to announce that it does not intend to do so.
srpactive: TEB The deal struck must be a good one, which I trust our KA with, I will vote it through, although the price will be based on FOBT outcome.
septimus quaid: In today’s, hard copy, Telegraph (and I’m paraphrasing): Yesterday’s spike due to speculation about a possible takeover. GVC has recently sold off a Turkish business which (somehow) may have oiled the wheels for a LCL bid.
septimus quaid: For a steady away dividend payer, the share price has been up and down all over the place (based on a quick look on HL: for year ending 31/12/2016, present yield 2.60%, with a (very solid) cover of 2.2 and more promised next year). Hopefully things will settle down now into a more positive uptrend.
adamb1978: There was a small snippet in Shares mag this week about the impact on profits from potential FOBT legislation. THey put the impact on profits at 50% at LCL(?). I assume this is 50% of profits from FOBTs, rather than 50% of overall profits - does anyone know the contribution which FOBT make to LCL's financials, either in terms of turnover or profit? Extract below. Thanks Adam RESEARCH FROM CREDIT Suisse suggests there is an increased chance the Government will slash the maximum stake for fixed odds betting terminals from £100 to £2 in a review later this year. This could mean a big hit to profitability at bookmakers William Hill (WMH) and Ladbrokes Coral (LCL). The investment bank quantifies this as a 40% hit to profits at William Hill and 50% at Ladbrokes Coral.
woozle1: Hi Nod, Funny how we end up on similar pages. This is one of my other chunky positions. There's so much scope for self help in LCL as the previous Ladbroke's management was rubbish and there's also big opportunity in online. One big advantage LCL have over pure online operators is the ability to cash out in the shops. Getting money out of online only has been problematic. The upgrade on the cost cuts is not surprising as the Coral team who are now running the show ran Coral for a buy out company and know about cash! w1
Ladbrokes Coral share price data is direct from the London Stock Exchange
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