Sportech Share Discussion Threads

[finkie] 27/6/2017 08:21

Yes agreed trent, i was hoping for a 2-3% gain perhaps on this actually getting formally completed, i think now the only thing that will drive short term gain is the compound interest on the VAT monies as that could be a decent one off windfall.....

[trentendboy] 26/6/2017 11:38

Good to see the sale went through

[nod] 24/6/2017 10:22

It's good that expenditure on lobbying is made public.$25 Million And Countingby Christine Stuart Jun 22, 2017 5:30amLobbyists spent $25 million this year trying to push their issues over the legislative finish line, according to reports filed with the Office of State Ethics.While the spending and the lobbying is far from over in the absence of a state budget, one of the most expensive efforts this year centered around the state's decision to expand gaming....In what was described as a "sweetener" to get lawmakers to give the tribes permission to build a third casino, Sportech Inc., which operates the off-track betting facilities in the state, was able to get legislation that allows them to expand their operations from 18 to 24 facilities. Sportech spent about $53,482 on its lobbying efforts, but Malloy hasn't hinted yet as to whether he's willing to sign that legislation.http://www.ctnewsjunkie.com/archives/entry/25_million_and_counting

[nod] 19/6/2017 22:27

The Littlewoods v HMRC case is with the Supreme Court with Hearings scheduled within the four weeks. The decision may take a few months but HMRC appeared to accept defeat years ago when the UK Govt introduced tax changes for this and other compound interest claims.https://www.supremecourt.uk/cases/uksc-2015-0177.htmlThe case will bring SPO into the spotlight as its own claim for compound interest is pending the Supreme Court decision.

[bobby.ifa] 19/6/2017 15:55

Same as Webix US licences are undervalued, but not as numerous as SPO's.

[trentendboy] 19/6/2017 14:47

With US regulation moving fast I really think that the market is not fully pricing in SPOs significant market position in some statesUndervalued imo

[finkie] 19/6/2017 14:15

I understand that Nod, so it appears to have been a fairly pointless exercise other than future earnings will have less shares cover! I understand the football pools deal formally completes at the end of June, i think i will wait as when this announcement hits the market it may result in increased trading levels (i could'nt really sell now if i wanted to) and a small price rise.

Cheers

[nod] 15/6/2017 18:45

There is no logical reason why a buyback should result in an increase in the share price. The value of the company decreases by the cash used (20 M) but, at the same time, the number of shares in issue decreases and the market value has decreased by the cash spent.Say your company has 100 shares at $1 each and has $100 cash. You spend $10 buying back 10 shares and cancel the shares. Your company now has 90 shares at $1 each and is valued at $90, which equals the cash left. There is no reason why the share price should have increased to $1.05 just because you took out cash.

[finkie] 15/6/2017 15:19

Hmmm distinctly poor then I haven't had time to follow this was it at 103p what's your advice now I have 50,000 still at 60p entry so happy to cash in and forget about sbt I have decent holdings of 888 and Gvc so don't need sbt particularly cheers

[nod] 14/6/2017 19:29

The Buyback (Tender Offer) was completed on 21 March

[finkie] 14/6/2017 09:37

When does the dilution/buyback take effect nod or has this happened, if not donyou see upside when this occurs

[nod] 14/6/2017 02:12

finkie, yes, aside from that blip down and up last month we have been in a very tight range around 100p for three months now.Maybe everyone feels uncertain about a future without the Football Pools. This has been the cash cow for over 16 years and we will have no cow in a few weeks time.While the USA businesses are promising and we will have a cash pile from Pools and HMRC, it's not clear where the reliable profits are going to come from in future years.

[finkie] 13/6/2017 17:05

Fairly slow since the pools news I feel what's happening with the corporate actions proposed doesn't seem to have affected the price....

[nod] 08/6/2017 09:44

Senate gives final legislative approval for more OTB parlorsThe Associated PressHARTFORD, CONN. The Connecticut Senate gave final legislative approval Wednesday to a bill that would expand the number of off-track betting facilities across the state.Under the provision, Sportech Venues can have eight more off-track-betting licenses, for a total of 24 locations.The locations will be subject to local and state approval.The bill was crafted to garner votes for another bill authorizing the Mashantucket Pequot and Mohegan tribes to build a border casino in East Windsor. It cleared the Senate Wednesday night, 22-14, and now heads to the governor.Ted Taylor, president of Sportech, said the company applauds the legislation increasing the number of OTB facilities. However, he said "more work needs to be done" to protect its 400 jobs in Connecticut. Without offering any specifics, he said Sportech is willing to work with the state toward "a fair arrangement" that will allow the company to build on its investment in Connecticut.Like the two tribes, who own and operate Foxwoods Resort Casino and Mohegan Sun, Sportech has voiced concern about the impact of competition from the MGM Resorts casino being built in Springfield, Massachusetts. Sportech operates an OTB venue in nearby Windsor Locks.The bill that cleared the Senate also creates a new entertainment sharing agreement between the tribes and venues to recruit entertainment acts, and requires the Department of Consumer Protection to set up a framework for sports betting in anticipation of the federal government possibly permitting it.

[nod] 24/5/2017 09:41

Reminder: in July the Supreme Court is schedule to rule on the Littlewoods claim for compound interest on VAT repayments. SPO's claim is on hold pending the Supreme Court's decision. It is expected the Supreme Court will uphold the High Court and Court of Appeal in favour of Littlewoods claim.HMRC and U.K. Gov anticipated this and in 2015 introduced a tax on restitution Interest payments of 45% enabling them to claw back 45% of repayments."In Autumn Statement 2015 the Government announced new rules introducing a special 45% rate of Corporation Tax to be applied, from October 2015, to payments made by HMRC of certain awards of restitution interest."The new rules were introduced because the interest element of any restitution award to a company would be liable to the prevailing rate of Corporation Tax (which was at a historic low) and HMRC wished to reflect both the (generally higher) rates of Corporation Tax over the period to which typical awards relate, and the effect of compounding interest not taxed in the year to which it related.

[nod] 24/5/2017 09:17

An encouraging trading update.

[trentendboy] 19/5/2017 13:49

Drop was always over done. Should move on up past 110

[runthejoules] 18/5/2017 17:00

I guess that spike at the end was due to Naked Trader: "I sold spo for a loss of £54 under get out quick policy on new ones that don't go up. Sellers kept coming in on level 2 and so I quit. However I will try an entry point again on that one. (I try three times and after that always leave it alone for at least 3 months)."

[runthejoules] 17/5/2017 07:16

Rhodris that was what a couple of people said on LSE. No cause for it as far as I can see. Maybe Trump worries over in the US?

[rhodris] 17/5/2017 06:48

Why the recent fall. Everyone got bored?

[runthejoules] 27/4/2017 18:46

I hope it gets bought tomorrow, I need to pay an electrician

[trentendboy] 27/4/2017 09:03

Yes, means SPO is a serious TO target - should be a 20% premium at least on the current price

[runthejoules] 27/4/2017 08:54

It sounds like a recommendation to me in SHARES magazine this morning... hxxps://www.sharesmagazine.co.uk/article/sportech-easier-to-swallow-after-pools-sale

[nod] 21/4/2017 10:47

The RNS are rather confusing. SPO could have saved some money and combined them.

[nod] 21/4/2017 10:39

Young Richard looks to be a very good asset."Sportech is pleased to announce the appointment of Richard Cooper as Non-Executive Director, effective 24 May 2017. Richard will also be taking on the role of Chair of the Audit Committee.Richard, 56, a Chartered Accountant, has served shareholders' interests in a number of leading public companies, most recently as Group Finance Director at GVC Holdings plc, the online gaming group, where since 2008 he played a key role in driving the company's growth strategy. He has extensive international experience gained across a wide range of service industries. Previous roles include CFO of Trident Gaming PLC, Group Finance Director of Patsystems PLC, and an earlier career in moneybrokers, Tullett Prebon.Roger Withers, Chairman of Sportech PLC, said: "I am delighted to welcome Richard Cooper to Sportech. His extensive PLC and international experience will be of considerable benefit to the Group".