Chief Stipe Posted May 9 Share Posted May 9 Share price down 47% in 18 months. 78% of shares owned by institutional investors. Those investors are demanding a return and a reduction in debt. Committee formed including major investors to explore the divesting of recently acquired businesses that don't fit with long term strategy or integrate well with core Corporate systems. Quote Link to comment Share on other sites More sharing options...
Special Agent Posted May 9 Share Posted May 9 OMG. There wouldn't be many statisticians who could dress those facts and figures into anything positive. 1 Quote Link to comment Share on other sites More sharing options...
Murray Fish Posted May 9 Share Posted May 9 where the terms and conditions for the E takeover ever presented in public domain? Quote Link to comment Share on other sites More sharing options...
Doomed Posted May 10 Share Posted May 10 They certainly do have an interesting business model. I have no idea where the profit aspect of their current NZ investment kicks in. At least NZTR and Auckland racing have the mythical Avondale goldmine at the end of their rainbow. 2 Quote Link to comment Share on other sites More sharing options...
Freda Posted May 10 Share Posted May 10 I reckon on-line gaming is their end game. Notwithstanding the current legality of that, it would realise huge profits if able to be implemented. 2 Quote Link to comment Share on other sites More sharing options...
Nowornever Posted May 10 Share Posted May 10 38 minutes ago, Doomed said: They certainly do have an interesting business model. I have no idea where the profit aspect of their current NZ investment kicks in. At least NZTR and Auckland racing have the mythical Avondale goldmine at the end of their rainbow. Still paying off their huge corruption fines overseas. Gambling giant Entain will pay HMRC £585m to settle over bribery allegations relating to a Turkish firm that it previously owned. The settlement was approved by the Royal Courts of Justice in a hearing on Tuesday. Entain, which owns Ladbrokes, will also make a charitable donation of £20m and pay towards the costs of the case. Its chairman added that the group had "profoundly changed" since the sale. The payments are part of a deferred prosecution agreement (DPA), that will be made in instalments over the next four years. 1 Quote Link to comment Share on other sites More sharing options...
The Centaur Posted May 10 Share Posted May 10 What I can't fathom is the retention of existing TAB staff. Surely any takeover or arrangement can only succeed with big cost reductions. Quote Link to comment Share on other sites More sharing options...
Nowornever Posted May 10 Share Posted May 10 1 hour ago, The Centaur said: What I can't fathom is the retention of existing TAB staff. Surely any takeover or arrangement can only succeed with big cost reductions. I thought the deal included retaining staff for 2years as well as a number of other conditions. When the 2 years is up I imagine a big reduction in staff, a massive increase in restrictions of accounts and a number of other measures to increase profits at the expense of punters. 1 Quote Link to comment Share on other sites More sharing options...
The Centaur Posted May 12 Share Posted May 12 On 10/05/2024 at 3:23 PM, Nowornever said: I thought the deal included retaining staff for 2years as well as a number of other conditions. When the 2 years is up I imagine a big reduction in staff, a massive increase in restrictions of accounts and a number of other measures to increase profits at the expense of punters. Can't remember any previous business deal along those lines. Maybe because the Labour racing minister rather naively insisted on no loss of jobs with election looming. Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted May 12 Author Share Posted May 12 ENTAIN had a loss of GBP$1,000,000,000 last year. That's NZD$2.1 billion. 1 Quote Link to comment Share on other sites More sharing options...
Murray Fish Posted May 12 Share Posted May 12 1 hour ago, Chief Stipe said: ENTAIN had a loss of GBP$1,000,000,000 last year. That's NZD$2.1 billion. pondering how that lost be made up??? Fine$ and Interest$ are X? Punters Winnings? Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted May 12 Author Share Posted May 12 15 minutes ago, Murray Fish said: Punters Winnings? ZERO. Quote Link to comment Share on other sites More sharing options...
Freda Posted May 12 Share Posted May 12 3 hours ago, The Centaur said: Can't remember any previous business deal along those lines. Maybe because the Labour racing minister rather naively insisted on no loss of jobs with election looming. I think that about sums it up. Quote Link to comment Share on other sites More sharing options...
curious Posted May 12 Share Posted May 12 3 hours ago, Chief Stipe said: ENTAIN had a loss of GBP$1,000,000,000 last year. That's NZD$2.1 billion. Where did you see that? However, Entain ended the year with a group loss after tax of £879m, compared to a profit of £32.9m in 2022. Quote Link to comment Share on other sites More sharing options...
The Centaur Posted May 12 Share Posted May 12 2 hours ago, curious said: Where did you see that? However, Entain ended the year with a group loss after tax of £879m, compared to a profit of £32.9m in 2022. I think he means the loss of sharemarket value. 1 Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted May 12 Author Share Posted May 12 2 hours ago, curious said: Where did you see that? However, Entain ended the year with a group loss after tax of £879m, compared to a profit of £32.9m in 2022. I read they had a pre-tax loss of £842m. As such, net loss for the year after discontinued operations stood at £936.5m, in contrast to the previous year’s £19.5m profit. Quote Link to comment Share on other sites More sharing options...
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