Sportech Share Discussion Threads

[trentendboy] 04/5/2016 12:35

Arguably the share price should be around £1 now IMO

Now debt free, spare cash and more management time

[trentendboy] 04/5/2016 12:35

BOOM shake the room.

A great result and certainly glad I held all my shares in the recent fall.

Now we will also see some serious corporate action as they sell off non-US facing stuff.

Very good

[nod] 04/5/2016 11:40

The other unknown that is holding buyers back is that hmrc can apply before 13th May to the court of appeal for permission to appeal to the Supreme Court. Hmrc are not spending their own money and their lawyers will want to appeal as a gamble ... are the lawyers playing a game of chance or a game of skill?

[finkie] 04/5/2016 11:27

its at the moment quite disappointing share price wise........

[nod] 04/5/2016 11:09

Well done all holders who kept the faith. This is a huge windfall that was not imo priced in at 60pThe unknown, which may be holding big buyers back today, is how much will SPO get from this and how much goes to the tax lawyers who took on all the risk. Remember it was a no fee arrangement over many years so the lawyers will take a big chunk of the return I guess.

[finkie] 04/5/2016 10:52

taxpayers or even taxipayers!! ha

[finkie] 04/5/2016 10:52

i was going to ask same question it would seem silly for a unanimous ruling against HMRC what a waste of taxepayers money to continue fighting this already must have cost us millions.....w*nkers

[utterly pointless] 04/5/2016 10:33

there won't be another appeal. I'll give you odds of 8/1 for as much as you like.

[o1dsmokie] 04/5/2016 10:28

Another appeal soon?

[yesrupnel] 04/5/2016 10:15

Assuming that the pools business will be sold off - who would buy SPO for its bars/horseracing and small poker outfit?

PTEC has lots of cash. Could be a way into the US but not sure the US like PTEC too much - but as its done state by state they could get some state licences.

888 - didn't get BWIN - SPO would be small fry to them but it could help a very small amount on its poker pool and would enable it to do some limited horse betting which it is already good at.

GVC - busy at the moment integrating BWIN but have said they are still on the lookout for new acquisitions.

Pokerstars - not sure if they are too tied up with potential courts cases.

A smaller (one of the many) outfit or a large overseas gambling outfit?

[somerset lad] 04/5/2016 10:14

The £97m is the principal plus simple interest.

SPO has never suggested that it will or could claim compound interest.

But like Utterly Pointless, I thought there was a potential claim for compound interest (following the Littlewoods saga) but it may now be too late to claim (?) and the Government has introduced a 45% corporation tax rate on restitution interest paid on a compound basis (not sure that this is lawful though).

[sharetrader3006] 04/5/2016 10:01

Are trades going through ISDX?

[utterly pointless] 04/5/2016 09:59

I was wondering about that. Is £97m the principal sum? When does it date from? I think you get compound interest in VAT claims so it could be very substantial...

[danboris2] 04/5/2016 09:54

Personally I think when the market settles down there will now be upside to around 100p. It is a big chunk of cash and the possibility to get interest as well

[utterly pointless] 04/5/2016 09:54

It's a very tight market. No substantial quantities of shares available to be traded - so I wouldn't read that much in.

My guess is that, now the uncertainty over STB has been removed, this will be very much in play as a takeover target. I can see a sale of the pools business, a bid for the value of SPO's US licences (which I agree there is only modest evidence it can monetise), and a substantial special dividend.

DYOR, of course. But I'd wait on any view for confirmation that there won't be an appeal to the SC. They have no chance but the market might not know that.

[yesrupnel] 04/5/2016 09:46

Great news.

About £130,000 worth of shares traded today - so not a large amount.

Trying to work out if to sell and just take the small profits (I have held these for a very long time - trading in or out).

I'm not that that enthused about the US side of the business although I was initially.

They don't seem to be able to make large profits on their bars/horse betting even when they have exclusives.

I'm not sure I seem they being that successful on the poker side of things purely based on the fact that they are a small player and the likes of 888, Party. etc will probably dominate the US market in time with cross state pooled resources.

Any views?

[utterly pointless] 04/5/2016 09:40

I agree. Substantially no prospect of an appeal to the Supreme Court. The case has no general importance.

[somerset lad] 04/5/2016 09:39

There we have it.

This is probably the end of the road: the Court of Appeal is very unlikely to grant permission to appeal (figuring that it's for the Supreme Court to decide which cases it wants to hear); and the Supreme Court is very selective about the cases it takes.

The impact on valuation depends on how much the market had anticipated today's result and therefore already priced in the £97m. (My own view, FWIW, is that the market had become bored by the VAT claim and demoralised by the defeat below so the valuation of the claim was quite heavily discounted. We will see.)

[utterly pointless] 04/5/2016 09:26

I did tell you it would win.

[yesrupnel] 03/5/2016 07:36

Thanks for the info.

Hopefully its going to be VERY good news.

[utterly pointless] 29/4/2016 16:29

The case is called IFX.

[yesrupnel] 29/4/2016 15:49

UP - couldn't find any details of Sportech on that link?

[utterly pointless] 29/4/2016 15:45

Judgment to be given on Wednesday

[trentendboy] 13/4/2016 08:37

I suspect you have shorted this - in which case you are well underwater.

Shorting it now should be an easy call if you think they will not win the case.

Someone somewhere will have an idea of what the result will be (wife of the judge etc.). The move in the share price is suprisingly strong given it is an appeal.