dave297
09 Mar 2018
Finals Today Great results & our current year has started extremely well.It will be interesting to see how Kenny manages the integration of Lad/Coral as it will be an entirely different ball game to integrating Bwin.I wonder whether they may be a plan to divest the retail operation at some point as the strength of GVS as a company has always been its technology platforms & bricks & mortar is very much yesterdays news.He is obviously totally aware of & will have factored in the costs involved in closing down retail operations & it will be fascinating to see how it pans out over the next year or two.No plans on selling any of my shares
claude reins
26 Jan 2018
Re: 5% shorted Well I have given you two good reasons in my last post ai 11.42 todau. Surprised it is only 5% shorted. You saw whaat happened to the High Street betting outfits when the regulation change rumours came out in the last week or so, Down by 20%+. GVC is not in the same ball park, but is joining them with the takeover. The Greek situation, which they may win or lose, is serious money.....and they are already going to be paying monthly, into an escrow fund, win or lose, and I guess that it will go on for some time with all the legal expenses and uncertainty. The Greek Government is not exactly flush and will be keen to get any extra funding. The gambling industry must be regarded as fair game.I repeat - take your winnings (remember gamblers rarely win - see the figures for Plus 500 and IG index!) and run.
Andy46
26 Jan 2018
5% shorted Should we be concerned that over 5% of this stock is shorted. Someone thinks its going down.
claude reins
26 Jan 2018
Greek tax authorities come after GVC Although GVC were not running the operation in the period concerned, they are making a provision of 200m Euros just in case, as well as paying intoo an escrow fund approx 8 million euros a month. The potential on GVC profitability is not unsubstantial - 200m euros on 2017 accounts. Together with the uncertainty as to the wisdom of buying a huge high street betting company, even with allowances for lower regulated betting terminal limits which could coem down from £100 to £2 every 20secs, perhaps the management have run out of a combination of steam and / or luck. The risks are rising. The SP has done very well so far. Now, I rate them a strong sell.The quote from Alliance News, always unfortunately just after the London market had closed last evening stated the following:GVC Holdings PLC said Thursday it faces a EUR186.8 million bill from the Greek tax authorities following an audit assessment, which the online gaming firm said intends to appeal but added it has made a EUR200 million provision.The FTSE 250-listed firm said one of its subsidiaries which was operating under an interim Greek gaming licence received the tax audit assessment from the Greek Audit Centre for Large Enterprises in respect of 2010 and 2011.GVC explained the subsidiary was at the time owned by Sportingbet PLC. Sportingbet was acquired by GVC in March 2013.The total amount of the assessment was set at EUR186.7 million. This, GVC said, was "substantially higher by multiples of the total Greek revenues generated by the subsidiary during the period."In 2016, GVC generated a pretax loss of EUR138.6 million on revenue of EUR823.3 million."Legal and tax advice has been received from the group's Greek professional advisers and this sets out that the group's subsidiary has strong grounds to appeal the assessment and it will, therefore, file an appeal," GVC said in a statement. "As currently there is no formal settlement mechanism, the appeal process is expected to be conducted through the Greek courts."In the meantime, GVC said the subsidiary continues to trade normally and intends to enter into a payment scheme with the authority. Under this scheme, approximately EUR7.8 million per month over the next 24 months will be paid to the authority and held on account."Entering into such an arrangement is not an admission that the assessment is correct and the group will seek to recover such payments," GVC emphasised.GVC said, in order to be "prudent", it has made a provision of EUR200 million in its 2017 financial accounts. This will cover the 2010 and 2011 period as well as up to the end of 2017."The board strongly disputes the basis of the assessment calculation, believing the assessed quantum to be widely exaggerated and is confident in the grounds of appeal," GVC concluded.
claude reins
22 Jan 2018
Nervousness about regulation on maximum instant bet? Currently £100, this could come down to £2. Clearly this has been built into variable offer from GVC. Also probably GVC have plans to gradually increase online betting at the expense of in store. The $64,000 question is how the change in regulations will affect total betting. It mat not change it very much at all. If betters want to gamble £100 then they will probably do it in £2 lots as well as £100 lots?In the meantime, there is probably nervousness in the market and as a result some sell down either by investors and /or repricing by brokers.Currently 2% today. Not massive.Strong hold or even buy on weakness.
claude reins
11 Jan 2018
Re: Trading update today As you say trust Kenny - both to make us richer and also especially to make himself considerably richer. Havent seen so many complaints on the bb recently about the board rewarding themselves excessively. I presume that is because their actions are also rewarding their shareholders well. OK by me.
dave297
11 Jan 2018
Trading update today Very strong & our profits will have increased accordingly.I am still not sure about the rationale of acquiring 3500+ retail units which is clearly a declining market,particular when the gaming machine cash cow is substantially curtailed-but I will trust in Kenny.Perhaps he is planning to hive off retail into some sort of MBO in which we will retain a stake.
rogerjc
08 Dec 2017
Re: Ladbroke Coral Ladbrokes Coral is not just betting shops. They already have an online business and are also into Casinos, Bingo and Backgammon. Is this where GVC are going or are we going to see a number of sell offs of those bit of Ladbrokes that don't fit the GVC profile? I suspect the latter. In any case thinning out the Betting Shop empire need not cost a fortune. Natural wastage of employees in the industry is high and delipidations need not cost a fortune. Landlords always ask way over the costs as they see it as a way to maximise their profits. There are many good contractors who are capable of doing the work at a reasonable cost. Having worked in that trade I know we could often half the landlords asking price and still make a profit!
oldjoe1
08 Dec 2017
Re: GVC Broker BUY Reco...... Broker Forecast - Peel Hunt issues a broker note on GVC Holdings PlcPeel Hunt today reaffirms its buy investment rating on GVC Holdings Plc (LON:GVC) and raised its price target to 1200p (from 1000p). Story provided by StockMarketWire.com
oldjoe1
08 Dec 2017
GVC Broker BUY Reco...... GVC Holdings Plc GVC Peel Hunt Buy 954.50 954.50 1,000.00 1,200.00 ReiteratesSP Target 1200p
1947MGTC
07 Dec 2017
Re: Ladbroke Coral I've held GVC since 2006 and always been bullish on the company (despite the occasional rants by Eagle 51). I've always thought Kenny Alexander and the Board are very shrewd and they've achieved tremendous growth and shareholder value. Back in 2014 and 2015 when dividends were paid quarterly the yields were sensational. However, in order to effect the acquisition of Sportingbet in 2016, dividends were suspended for a year and when they were reinstated it was on a twice yearly basis so shareholder income has all but halved (still very good though if you bought ten years ago) Two things concern me:1) High Street bookies are yesterday's model with high running-costs and, on the occasions when I've gone in for a look, virtually empty of customers. (So I really don't see the logic in the deal but what do I know!!!)2) I have concerns that the dividend will be suspended again in order to fund the deal and that shareholder value will be hit both in terms of no dividend income and also reduced share price.Nevertheless, the market seemed to like it today and I still don't quite understand it but I took the opportunity to sell 21% of my holding at £9.83. May well be wrong again (as I was when I sold out of Persimmon at £19.24 - now £26.06!!)Think I'll just wait and watch (and I mean to watch it like a hawk!!).The old saying "buy the rumour, sell the news" seems appropriate until we see which way the wind blows.47tc.
dave297
07 Dec 2017
Re: Ladbroke Coral Good point Pad but disposing of over 3500 retail shops as & when leases come up for renewal would be a lengthy & costly process involving dilapidations clauses & redundancies.Wonder whether a SPV could be set up to acquire them all & take them off the Balance Sheet.It will be interesting to see how the press respond tomorrow & over the weekend as this is big news & some would say,positively, that senior management at Ladbroke Coral have dealt brilliantly with extracting merger synergies & GVC will benefit most.Hopefully the IIs in LC will support the merger as Kenny is the main man in this industry .Still holding
Pad Mc Pad
07 Dec 2017
Re: Ladbroke Coral Hi Dave,I can see your concerns but I think rather than the business, he is buying the customer base. Once onboard with the old fashioned punters going into betting shops he can 'convert' them into online users then close the high street stores down win-win.
claude reins
07 Dec 2017
Market seems to like it.. ...and may put on more when the combined estate is slimmed down as I am sure it will be. A happy holder at the moment.
john222
07 Dec 2017
Re: Ladbroke Coral Dave well put and exactly my sentiment too, leasehold estate expensive staff heavy this really takes the shine off of a very nimble online operator, LADS is not a great business anymore in my view BUT everything he touches to date turns to gold so we will see, i have sold a lot of shares at £8-9.50 so what i have left is still quite substantial but owes me nothing, i may though let a few more go at this price level....
