Re: News just out - PASPA repealed! "I read an article in today's Times (sorry, I don't have a link - or a copy in front of me for a direct quote) and from memory the estimate of the currently black market is $2.1bn ..."I've seen $150 billion, the same as Gretel said. I can add that the estimate is from the American Gambling Association, whoever they are. midcapper, your memory's like mine!I can confirm that the outcome depends on what states choose to do, at least that's what I've heard. I've heard that states can rule that part of a sports bet has to go to the teams involved, and states will tax the bets, which is their motivation for making sports betting legal. But that's just from memory.
Re: News just out - PASPA repealed! There's still a long way to go with this encouraging announcement. Each State sets its own rules or restrictions on gambling: some may limit sports betting to "venue only", others may have a broader acceptance in casinos as well. The permission in some states may be extended to online or via Apps. All of which will become clearer in the fullness of time; however, some States are further ahead than others with their licensing plans.I read an article in today's Times (sorry, I don't have a link - or a copy in front of me for a direct quote) and from memory the estimate of the currently black market is $2.1bn, with a forecast that it will reach $2.7bn. Personally, I think that could be an underestimate.Nonetheless, the impact for XLM's business will hinge on how much of the betting market is extended to online activities - and as mentioned, this will take time to evolve. But seriously exciting potential for our firm.GLA
Re: News just out - PASPA repealed! A real positive - and it looks like the SP is moving to the up again. If I recall correctly it was some 2 years ago that there was some conjecture on this BB and others as to how significant a benefit it would be if only one state legalised O/L gambling, let alone the whole lot being able to do so. The implications for revenue gain and share for XLM must be significant - at least as big as a very large acquisition or two. We have yet to see this reflected in the SP and it will take time for OW and the analysts to calculate what they will be, but upgrades to forecasts for the next FY, if not this, should be material.
Re: News just out - PASPA repealed! This RNS out earlier today from GAN confirms that online sports betting is now happening for this coming H2'18:"The Company confirms it is preparing to launch Internet sports betting in both New Jersey and Pennsylvania for its clients in H2.Sports betting will be delivered as an integrated extension into GAN's enterprise software platform and GAN will participate in the material incremental sports betting revenues. These incremental revenues are expected to be material for GAN in H2.Management Commentary Dermot Smurfit, CEO of GAN commented:"GAN has been preparing for sports betting since Q4 2017 at the request of multiple US Clients who asked GAN to review, procure and support the delivery of sports betting solutions both online and for deployment in the retail channel in the event PASPA was overturned. We welcome yesterday's repeal of PASPA and confirm that sports betting will be material to GAN's revenues going forwards, commencing in the second half of 2018."
Re: News just out - PASPA repealed! XLM's opportunity is huge and will start to be factored into the share price imo.This interview with the CEO of competitor Catena from March notes that "the sky's the limit" on PASPA's repeal:[link] should the US Supreme Court overturn PASPA, then surely the skys the limit."And 20 states are already in process re legalising sports betting, with New Jersey happening in just "weeks":[link] Johnson, analyst at Shore Capital, said there was a 'significant land grab opportunity' for UK-listed bookmakers.'Around 20 states including New Jersey, Pennsylvania, New York and Mississippi, have passed bills or have them making their way through the state legislature, to legalise sports betting; with New Jersey likely to go live in a matter of weeks,' he said.'With some $150 billion (£110 billion) estimated to be wagered annually across the US already there is clearly a significant pie to share.'"
Re: News just out - PASPA repealed! Probably because GVC is direct betting, XLM is a supplier of information t the industry. Direct beneficiaries are always more likely to show the biggest increase. All IMHO of course.Perhaps another factor is that XLM has diversified and OW, the CEO has been known to say that he sees more growth in financial markets - or at least that is what I think he has said!Hopes this helps in the discussion.
Re: News just out - PASPA repealed! Any reason why XLM's share price hasn't jumped like GVC's.
News just out - PASPA repealed! Great news re the repeal of PASPA....especially for XLM (and GAN). XLM are surely now even cheaper than they were before given the humungous potential now opened up in the USA.Loads of coverage - here's ESPN's take: [link] Court strikes down federal law prohibiting sports gambling3:19 PM BSTWASHINGTON -- The Supreme Court has struck down a federal law that bars gambling on football, basketball, baseball and other sports in most states, giving states the go-ahead to legalize betting on sports.The Supreme Court on Monday struck down the Professional and Amateur Sports Protection Act (PAPSA). The 1992 law barred state-authorized sports gambling with some exceptions. It made Nevada the only state where a person could wager on the results of a single game.One research firm estimated before the ruling that if the Supreme Court were to strike down the law, 32 states would likely offer sports betting within five years.The court's decision came in a case from New Jersey, which has fought for years to legalize gambling on sports at casinos and racetracks in the state.etc"
Re: Featured in May's Master Investor magazi... PLUS500 also got a glowing mention there.
Featured in May's Master Investor magazine May's Master Investor magazine is just out today:[link] are in their portfolio of the ten "companies with the highest historic dividend yields" on AIM.On pages 53-54 there's a VERY positive profile of XLM, which concludes:"ValuationXLMedia looks to be a great growth business with a superb track record of rising profits and plenty of cash in the bank to invest in further organic and acquisitive expansion. At the current price of 178.5p the company is valued at £393 million and trades on a historic earnings multiple of 13 times. That's looks good value given the historic growth rates, cash in the bank and expected growth in 2018 from the variety of recently completed deals. The historic yield is a reasonable 3.2%, with analysts at Berenberg Bank having atarget price of 290p for the shares, suggesting 62% upside."
Beaufort - the Sharesoc view Good to see these guys get involved and start organising PIs ....ShareSoc demands fair treatment for Beaufort clientsThe liquidation of Beaufort Securities on the FCA's instruction is targeting the ring-fenced property of thousands of UK private investors, many of whom are now facing losses of up to 40% of the value of their holdings. The liquidator's proposals bring into question the whole system of regulatory and legal protection of investors in the UK. The Financial Conduct Authority (FCA) declared Beaufort Securities Limited (BSL) and sister company Beaufort Asset Clearing Services Limited (BACSL) insolvent on the 2nd March 2018 and PwC were appointed as administrators of BSL and special administrators of BACSL.On 15th March, PwC confirmed that the ringfenced property of the Group's clients was held appropriately in accordance with FCA requirements, being approximately £50million in segregated client money accounts and around £850million in client owned securities.On the 12th April, PwC noted that client money and client assets were, as at the date of administration, substantially complete save for a very small number of isolated deficiencies. However, the initial estimate of £850 million client assets was reduced to £500m as a result of illiquid / nil value positions. The special administrator stated that the majority of client asset returns will commence September 2018 at the earliest and that around 700 clients with assets valued over £150,000 may experience a loss up-to a maximum of 40% on their ring-fenced assets!PwC is proposing to charge an incredible £100 million for the wind-down over a period of 4 years. They have provided no justification of either the amount or timeframe for the simple task of transferring an electronic registry of client assets/money to one or more replacement brokers.Over 14,000 clients invested through Beaufort Securities, an FCA regulated entity, on the assurance that their assets were firewalled per FCA rules precisely to protect them in the event of the broker's insolvency. The suggestion that PWC as Special Administrator can seize client property and treat the owners as creditors of the failed entity makes a mockery of regulatory protections for investors in the UK.The FCA seems to have allowed Beaufort Securities to continue trading while the FBI carried out an undercover investigation, apparently putting the interests of the FBI ahead of those of UK investors. This calls into serious doubt the FCA's priorities and the regulator's role in protecting domestic savers.ShareSoc is determined to defend the interest of Beaufort clients, and the interests of UK shareholders in general, whose shares are held in nominee accounts and are therefore similarly exposed to the insolvency of their brokers.ShareSoc has launched a campaign with the primary purposes of mounting a legal challenge to the current administration proposals, specifically:Refuting the Special Administrator's right to seize ringfenced client propertyEnsuring proper separation of the liabilities of BSL from those of BACSLQuestioning the Special Administrator's cost and time estimates in relation to the wind-down of BACSLSeeking a transfer of the business of BACSL to an alternative custodianReviewing the actions and motivations of the FCA in this matterLobbying for legislative change to ensure that assets in custody are properly protectedRenowned FT writer and private investor, John Lee says: "I am very happy to endorse the thrust of ShareSoc's campaign. We were all shocked to discover the seeming vulnerability of clients' funds when we thought that they were ring-fenced and protected. This loophole surely has to be closed".Details of the campaign can be found here:[link] BentleyShareSoc Directormark.email@example.com(t) 01582 526174| (m) 07989 643119
Re: The Beaufort Saga I did... and to judge from a number of my investment decisions I should concentrate on that area a tad more! Your observation is therefore cuttingly on the mark!At risk of being accused of ramping some may be interested in looking at Pelatro...Prelims out this morning.
Re: The Beaufort Saga Last comment very poetic Charlie. Did you make it up yourself? If so, you are wasted on investments!
Re: The Beaufort Saga That is Lord John Lee - a very astute investor. The upside compensation of 17000 clients at £50k a go is some £850M. I cannot see this sum being paid, but whatever figure the FSCS has to pay out it will be a real whack to the taxpayer. Lunacy prevails at the FCA - the taxpayer funded hovel of financial improvidence.
Re: The Beaufort Saga Heard about this at a meeting on Friday at Mello. I agree with you that it is outrageous that this sort of thing can go throuhg on the nod so to speak. At the meeting I attended there was a member of the House of Lords and he was putting down an urgent motion in the House to discuss just this. The Commons should be equally incensed if not more so, and the Treasury should be playing an active role, since the FCA seemingly are not.