Playtech Share Discussion Threads

[rimau1] 01/3/2024 13:02

The IC agree with my buy case that the conglomerate discount is much too large here (see my post 4746 last year). Trading at 8x fwd earnings. Snaitech is worth at least £1.2bn and the Caliplay option if enforced is another £415m. So with a marketcap of £1.6bn the B2B, US and exciting South America growth engine are in for free. Results due March, they will only comment on the legal proceedings if there is news so unlikely to get an update on Caliplay, biggest risk is a consumer slowdown in Italy which PTEC previously flagged but will no doubt result in another de-rating

[jsg123] 27/2/2024 14:47

What is going on here.
Might sell out here, this cancelling fy update date and delay in rearranging is now a concern imo

[jsg123] 14/2/2024 14:42

And they seem to be more concerned about brokers than shareholders.
Says it all

[the white house] 14/2/2024 14:22

Indeed, a gambling company not recognising the first date they picked was middle of the Cheltenham festival week just shows how out of touch all of the big cheeses are with the real gambling World that 0 (zero) of them noticed. Worrying

[jsg123] 14/2/2024 13:00

I got an email from IR a few weeks ago stating the scheduled FY update for 14th March is being changed because analysts are at Cheltenham.
And they will update the market on calipay as and when they have news.
Pretty slack imo.

[the white house] 09/2/2024 10:30

PR response omitted any info on a Q4 update (as per last year Jan 26) implying there will not be one? Ominous & still no calendar dates for future announcements. PoorCaliplay ongoing complex legal etc etc Given Shell have had 2 updates this year and 3 in the calandar cannot conclude anything but remarkable disorganisationshambles

[the white house] 07/2/2024 12:29

Last year Trading update 26 Jan, nowt in financial calandar when Flutter has 4 future dated events Caliplay Radio SilencePR shambles

[jsg123] 04/1/2024 12:45

Zero volume here is the problem, down 6% in 1.5 days on little volume.
Only 8k trade sells today.
Needs investors or an RNS to move this

[jsg123] 02/1/2024 16:26

Every time a few hundred bot sells scupper a decent rise.

[the white house] 02/1/2024 15:43

Added @ 4502 months since last Caliente update & although only 37m bucks a decent shift up is due in any resolution. Any move indicative news in way.Strong Brazil positionexpanding across multiple channels in the US make the price Mor paid 7 months ago seem easily achievable this year. Or a takeover Either way

[the white house] 13/12/2023 08:50

Brazil regulatesWell positioned in the region to take advantage of

[niklol] 04/12/2023 11:21

888 Holdings rejected takeover approach by Playtech for £700m

[farrugia] 14/11/2023 10:07

this board looks dead which is great.

[deanowls] 01/11/2023 15:54

Seminole tribe now looking to start in person betting via the hard rock in Florida no word yet o. In game betting but play tech placed to provide services to what would be a mono ply in the state.

[farrugia] 01/11/2023 15:17

this stock at this valuation is easy prey for a USA predator.

[farrugia] 24/10/2023 09:56

i bought a starter position on this for now modest. No doubt the troubles in Israel are probably putting pressure on the stock price so its an opportunity. The last time I dealt on this was when it was getting acquired - at that point i immediately offloaded.

[the white house] 09/10/2023 16:37

Tech unit Israel

[jsg123] 09/10/2023 16:15

I'm waiting to find out also, but this slide down today on such small volume often 3 figure sells is starting to worry me.
I may email IR and ask for a layman's explanation.
Will post if I get a response.
Ceo bought 40 odd k at quid so he's well down on that!!

[popit] 09/10/2023 16:05

So nobody seems to have a clue what this Caliplay “option” actually means

[popit] 06/10/2023 17:33

RNS

6 February 2023

Playtech plc

('Playtech' or the 'Company')

Update on strategic agreement with Caliplay

As part of ongoing discussions with Caliplay in relation to the parties' strategic agreement, Playtech plc (LSE: PTEC) announces today that it is seeking a declaration from the English Courts to obtain clarification on a point of disagreement between the parties.

Caliplay is a highly valued customer and partner of Playtech, and has been a highly successful and rapidly growing business. A declaration is being sought in order to provide clarity for both parties. The matter in disagreement relates to whether Caliplay still holds an option to redeem the additional services fee element of the strategic agreement (the "Option"). The Option was structured such that the amount payable by Caliplay to Playtech upon exercise would either be agreed between the parties, or failing which, determined by an independent investment bank valuing Playtech's current entitlement to receive the additional services fee until 31 December 2034. For the six months ended 30 June 2022, the amount of this services fee was EUR34.4 million (EUR22.3 million for the six months ended 30 June 2021) and the business has continued to perform strongly since then.

The Option is stated as being exercisable for a period of 45 days following the approval of the audited accounts of Caliplay for the year ended 31 December 2021. Playtech believes the Option has expired and referred to its expiry having taken place in its interim report for the six-month period ended 30 June 2022, which was published on 22 September 2022. Whilst Caliplay has not sought to exercise the Option to date, Caliplay has made it clear that it considers the Option has not yet expired.

Playtech hopes to obtain clarification from the English courts and further updates will be provided, as required.

———;——̵2;——R12;——212;———————————;——̵2;——R12;—-

I have read the RNS from 6th February and the situation is still very unclear.

Can anyone explain it without the legalese?

Caliplay holds an option to redeem the service fee? What does this even mean? Does it mean Caliplay can refuse to pay the €34 million?

What does the option allow Caliplay to do? Does it allow Caliplay to pay zero or to pay less than €34 million?

And why would Playtech have agreed to such an unclear agreement that has now ended up in a Mexican court and is likely to end the JV at a great cost to Playtech?

[jsg123] 06/10/2023 15:51

Look at the RNS from 6th February, I just very very briefly summed up

[popit] 06/10/2023 14:26

“From what I can ascertain it's about exercise of options after a period resulting in fees payable by Calipay to Playtech for approx 34 million.
And Calipay feel that the options have not been exercised.”

This explanation is not very clear

Can anyone explain this dispute clearly? It is not very clear from the press reports

Who is owing who the money and who is complaining?

Does Caliplay owe Playtech £34 million?
Have they already paid it?
Are they refusing to pay it?
Do they want the money back?

And surely if Caliplay want to end the JV they will have to pay Playtech a lot of compensation based on the loss to Playtech of future profits?

Or is this court in Mexico just going to side with Caliente and leave Playtech with nothing?

Caliente seem to be owned by the former President of a Mexican state and so it is not very difficult to imagine that Playtech will be left with nothing

[jsg123] 06/10/2023 12:16

I've only been in a few days, so losses insignificant , but it was looking very enticing even at 450 before I jumped in.
It's hard to know when to add further.
Also I keep hearing the only way to deal with the rising treasury yields situation is for a full blown equity market crash.