Snai update i'm anticipating by end of Q1 |
Announcement today that Playtech software launched across 10,000 units with Buzz Bingo. Big launch & implication is that software developed will be useful with others going forward More decent results for the SNAI book in Italy, Q1 trading will be decent with Juve, Inter, Milan and leaders Napoli all suffering long odds on setbacks in the New YearThe excellent, detailed new website deliberately omitted a financial calendar section (which they did not like filling in previously) so whether the next announcement is a trading update or the sale of SNAI remains unknown |
Super Bowl predictions put Florida joining the 100m bucks wagers club for the first time at 125m above even NJ. V good news for Hard Rock & the 5pc held here. Also Illinois looking at icasino which will mean further use of Playtech products by multiple operators & a place at the table for Hard Rick, a double whammyBit sticky around the 740 area, calm before the (positive) storm |
Oh my what a good buy |
France PMU the main gaming operator in this key territory has just announced it will be joining forces with Playtech for technology aspects linked to and joining Playtechs ipoker network (leaving entain/partypoker) |
Decent rise yesterdaytoday we see a few changes to the hierarchy effective March 1. the SNAI announcement was 17 Sept, after what you would think was an agreed price given a lot of due diligence by Flutter. The closure date stated was Q2 but over 4 months after announcement could it be more April than June that split happens if things are getting tied up and board changes are already being put jn place? . What did happen yesterday is Indiana passed an important stage towards launching igaming Sept 1. After a quiet period there are suddenly 8 states moving towards igaming. Playtech will be involved in them all & likely with multiple players in each resulting in an even more rapid US expansion & a good start for the 'new' Playtech |
Another 2 media announcements of new business Expansion of casino games with Norway's main player & a new tie up with Crystal CruisesAll adding to expansion into B2B World prior to SNAI finalisation |
Many thanksPlaytech have today announced the launch of their first Live studio in Czech Republic. With SYNOT group initially a decent industry player others are likely to also adopt now up and running |
And to your second point, yes additional snaitech profit whilst the deal closes is more upside so maybe we are a 275-300m ebitda business FY25. Target price £9.90! |
The 200m debt they paid back would have been funded partly from FCF and partly from Caliplay presumably settling outstanding receivables that were due but were being held back whilst the dispute was settled. In my figures i have assumed playtech are debt free which they essentially are now. What i haven't included is the 140m over 4 years Caliplay are paying Ptech in consideration for the new agreement but then playtech also message that future revenues will be lower under the new agreement so its prudent to go with a net nil impact IMO. |
New tie up with Dutch lottery with Playtech bingo games announced. Last year on deals from Mid Jan to mid Feb (to tie with with huge ICE Barca expo which starts next week) saw a 10pc rise on the positivity generated |
Good post. Couple of thoughts that add to equation.The 200m recently paid back early is an indication that these funds are new to the equation of payout/paydown. Is this likely to increase eventual divvi (to calm those Mor payout moaners also) ?Also is there another 60m (guess) of SNAI earnings earnt up until competition day in say May? that will benefit Playtech coffers? (Entain have stated today favourable non US sports results last Q so this may be low) |
Let me add some meat to the bones. Returning 4.56 cash per share to investors on the completion of the Snaitech sale. Retains a B2B business targeting 200-250m euro ebitda in 2025. I value this at 9x so in gbp1.3bn or 4.40 per share. So that adds up to a very conservative 8.96 per share plus an equity stake in Hardrock. |
Great value here |
Decent GBP2.5m buy just gone through, been waiting clearly & now in = reassuring |
Biggest sale for 3 years plus prob linked to SNAI/flutter deal we shall see |
Now we know why so weak lately, just under 6m share sake overhang just cleared.With limited turnover here that has killed things for many weeks to get done. Anyways added |
Go to be, Flutter need diversity away from US football being the only game in town. Will be a big year here, esp if SNAI perform better than hoped recently and a bit extra is thrown in. There will be a huge divvi but after that huge drop the whole co. Changes from mostly bookie to all tech with ever increasing US foothold. Every company in the betting/casino/gaming space is either on board already or will be. As soon as it becomes tech only then the opposite will be endless and super attractive to any one of the US players that are now familiar with their expertise. A Nasdaq listing/US takeover are all inplay when SNAI deal done We could see a 300 divvi with a drop from 700 to 400 and then a rise back 600 in short orderQuiet as usual from co early Jan but they seem to ramp out announcements from mid Jan and momentum should change quite quickly |
Seriously cheap at these levels assuming the Snai deal is done |
200k minor overhang gone Italy going well and prospects after SNAI sale/divvi look unrivalled with the growing number of partners and staff esp USBelow the igaming section on the website is an (new?) expansive betting section which the likes of Robinhood may find worth a look given discussion this week. Impressive Added 735 |
Decent RNS : repaying 200m bond early as current balance sheet is so strong Added |
Thanks for posting that info |
Thanks for posting that info |
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