Bet on SportingBet
Oct. 13th, 2006 08:37 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
peterbirksI might not have won much money on Paradise this year (quickly checks -- oh, I see that I am up a bit...) but SportingBet have been very good to me indeed.
News came through this morning that the company has offloaded all its US business for a dollar. That might sound like bad news, but in fact it has saved the company at least $25m, and possibly more.
The "new" SportingBet saw its share price move up 5p this morning to 71p, but that strikes me as a horrific undervaluation of a company that has profitable interests elsewhere in the world and considerable opportunities for expansion. The "clean break" from the US was probably a best-case scenario for SportingBet and I've put quite an optimistic target price on the shares.
Oh, yes, I did lump in at 8.36.
Elsewhere, it's "D" Day. What will Party do today (I haven't checked yet)? Will they do a reset at 10am EST when Bush signs the bill? What's that coming after the bill? Is it a Monster? Well, probably not. (It helps if you have heard The Automatic to appreciate that bit, BTW).
Oh well, the S Drive is down at work. Everything is screwed. I'm working on the C Drive at home. At least that gives me more time to watch the SportingBet price, just like Taleb says I shouldn't.
More later.
News came through this morning that the company has offloaded all its US business for a dollar. That might sound like bad news, but in fact it has saved the company at least $25m, and possibly more.
The "new" SportingBet saw its share price move up 5p this morning to 71p, but that strikes me as a horrific undervaluation of a company that has profitable interests elsewhere in the world and considerable opportunities for expansion. The "clean break" from the US was probably a best-case scenario for SportingBet and I've put quite an optimistic target price on the shares.
Oh, yes, I did lump in at 8.36.
Elsewhere, it's "D" Day. What will Party do today (I haven't checked yet)? Will they do a reset at 10am EST when Bush signs the bill? What's that coming after the bill? Is it a Monster? Well, probably not. (It helps if you have heard The Automatic to appreciate that bit, BTW).
Oh well, the S Drive is down at work. Everything is screwed. I'm working on the C Drive at home. At least that gives me more time to watch the SportingBet price, just like Taleb says I shouldn't.
More later.
