Playtech Share Discussion Threads

[argylerich] 13/4/2018 14:54

My only worry with this is the Italian connection. Accounting irregularities seem to crop up there, more often than Tesco!

[nurdin] 13/4/2018 13:08

Well if the acquisition is double digit earnings accretive, then we are looking at a 2019 pe of under 10 and possibly less if synergies pan out as expected.

[nod] 13/4/2018 12:25

I just realised that Snaitech's revenues are quite a bit bigger than PTEC, about 10% larger.Perhaps important that the combined group would be nearly 80% in regulated markets.Also, Snaitech is "relatively underdeveloped online"It's going to be six months or more for the deal to be completed but when it is there may be a re-rerating here.PTEC must see better value here than competing for overpriced UK bookmakers.

[nod] 13/4/2018 09:49

21 times PBT seems a bit rich, but it highlights the value of our business operating in regulated markets. I'll have to do the sums to see how this would value PTEC.EBITDA of €135.9 million, pre-tax profits of €41.6m and net profit of €27.0 million.

[longwell] 13/4/2018 07:24

Ptech was discounted heavily due to unregulated business. Deal alone massively reduces this, add enhanced earnings, synergy savings, new market and an already very cash generative auquisition. This will slowly rise back up to be in line with its peers. Patience will be rewarded, and nice dividend as well.

[hatfullofsky] 12/4/2018 23:38

Party line is cash and debt

[wolfhound1] 12/4/2018 22:22

Has anyone looked at how much of this deal will be financed out of disposal of current stakes in lasbrokes and plus500 ( from memory) i thought we had close to £500mn ?

[trentendboy] 12/4/2018 18:45

Perhaps more importantly about GVC got Ladbrokes, PTEC realised that they needed to get bigger and quickly to be one of the surviving winnersConsolidation means a small number of big winners will be left - with this buy PTEC are ensuring they will be one of them.An important purchase at a decent price

[trentendboy] 12/4/2018 18:40

Price seems fine to me - building large positions in regulated markets is key - got to get positioned early to leverage when other markets open upGood move I an important strategic country.Not a major debt issue. PTEC are throwing off cash and pay a good dividend

[mozy123] 12/4/2018 13:41

A and D charge of 50mil euro and I of 40mil euro, yes 21x PBT level.

EBITDA target by 2020 is 160m Euro

[hatfullofsky] 12/4/2018 12:14

I'm a little reserved on this deal, sure x 6 at EBITDA level but x21 at PBT level €41.6mPlus we're taking on an additional €429m debt.PTEC has to make a statement and this is a big one but have they overpaid considering the debt situation.Time will tell.

[mozy123] 12/4/2018 09:19

Good to see a large aquisition that they have wanted to do for some time.

6 times EBITDA looks good value as well.

[sailing john] 12/4/2018 08:42

Bought in on the bell 806/808 - been on watch for a long time

From info available this will be significantly earnings enhancing given cost of debt will be much lower than additional earnings. (I also have a large position in PLUS and expect PTECs investment in PLUS to be worth significantly more at the next results)

[trentendboy] 12/4/2018 08:33

A strong move up.It is a good buy - Italian market leading in regulated markets

[bulltradept] 12/4/2018 07:21

Someone knew something.. Look at today's RNS!

[nod] 11/4/2018 22:47

It looked like a couple of very large buys reported at the end of the day. One is 671,617 shares at 761.4p

[trentendboy] 08/4/2018 17:37

Given the current interest rate in a bank it is an impressive yield at around 4.5%Given cash generation and forecasts the loss of LADS contracts are bad news it is tempered by the large shareholding in LADS which will have made them. Neat profit

[nod] 08/4/2018 03:50

Tipped by MFhttps://www.fool.co.uk/investing/2018/04/07/2-ftse-250-bargain-dividend-stocks-id-buy-today/

[mozy123] 29/3/2018 11:13

Not really just fustrating how cheap and under appreciated this company is. Over time very happy to own Ptech

[nickg100] 29/3/2018 10:58

Disappointing to see PTEC touching 12 months lows! Any thoughts or opinions?

[trentendboy] 19/3/2018 22:51

Indeed plus their machine arm

[nod] 19/3/2018 18:52

"There is a strong case to make tracked play mandatory across machines categories (B1,B2,B3)"That recommendation would help PTEC as this requires customer accounts and integrated gaming. Tracking is the key to identifying problem gamblers and then helping them.

[trentendboy] 19/3/2018 18:06

Strange to get no jump on the thirty pound news.I suspect many do not really know about certain arms of ptec business

[trentendboy] 16/3/2018 20:36

Market cap is still massive - not an easy TO target

[noujay] 16/3/2018 13:31

IMO they need to make a significant acquisition or they could be vulnerable to a bid (which I think would be no bad thing to shake things up a bit). The Price holding is interesting.