BET Discussion 2022

[Lattelarry]

But disappointed the didn't discuss the shorting more. Given it seems a lot of the shares have come from TW. Also I think by talking to other institutions and getting them to buy you can help beat the shorts.

Hi All, I watched the webinar today and it was made clear their focus is nailing their first Tier 1 contract (NDA over next 4 months) which if successful can be used as leverage into more lucrative contracts with stronger commercial terms. This along with fixed odds launching May 7 and managing their existing commitments was their priority. They didn’t give too much away but the clearly focused on global reach and picking the right businesses to engage with “opportunities with compelling cases”. When queried on “shorting” TB wasn’t drawn into it despite the angst it’s causing shareholders. He simply said they can’t control it and remain focused on the things they can i.e growing the business. Look after this business and the SP will look after itself in the fullness of time was the essence of his position on the issue.
Duration was was approx 30mins. Interestingly, they still don’t have final licensing issued to begin fixed odds transactions but TB was not concerned. They are ready to take first bet, everything ready to go and it was described as a formality. Expect we’ll get announcement in coming days/ week before next Friday.
The macros appear to be playing into the borrowed stock holders hands atm but hopefully we see them exit in few months (there is a lot to cover!) as revenue numbers with high GP are reported and instos get back onboard. Further mentioned by MD was the recession proof nature of the business model.
GLTAH

Yeah I was a little disappointed they didn't talk about the shorting a bit more - given the number 2 position on the whole ASX.
I'm hoping they are talking to instos and getting some to come on board - they need a couple of big ones that can counter MCQ shorting.
4C will be interesting tomorrow - but doubt it will matter how good it is.
Fingers crossed FO starts on the 7th, I'd guess there is a lot happening behind the scenes to get it over the line in time.

 

[Just Westy]

But disappointed the didn't discuss the shorting more. Given it seems a lot of the shares have come from TW. Also I think by talking to other institutions and getting them to buy you can help beat the shorts.

Yeah I was a little disappointed they didn't talk about the shorting a bit more - given the number 2 position on the whole ASX.
I'm hoping they are talking to instos and getting some to come on board - they need a couple of big ones that can counter MCQ shorting.
4C will be interesting tomorrow - but doubt it will matter how good it is.
Fingers crossed FO starts on the 7th, I'd guess there is a lot happening behind the scenes to get it over the line in time.

I think there's no point in them discussing the shorts as they can't do anything about it except perform well as a company.

 

[TeddyFiles]

Back to “death by a thousand cuts”
View attachment 5072

Frustrating but nothing we or BET can do. They will eventually let the company trade on its merits. Just a longer game than we had hoped.

Currently we are just a rag doll to them.

 

[Lattelarry]

Back to “death by a thousand cuts”
View attachment 5072

This sort of thing should really be banned.

BET should say if we don't find a use for the 100M within 12 months then we are going to do a 60M buy back. I'm pretty sure that would end the shorting.

The SP should be well over $1 if they do that and then in the future if an acquisition does come up they can raise money at a much higher valuation so less dilution than raising at $0.70

 

[Lattelarry]

Interesting strategy Larry!!……but there is comfort knowing that we have more cash than what we need……..we are increasing revenue…….we are a global business……and we have no debt.

guess we will just have to continue to sit up in the members stand and wash our Black Caviar down with a ice cold Crown Lager!

Yep we are in a great place. Often shorts are hoping for a cap raise but there is zero chance here unless was for large acquisition which seems unlikely. Need to get the 4C out so we can see how everything is going. Then FO confirmed for 7/5. With that everything will be flying and hopefully can attract some more big investors.

As for takeover, often the board will know if someone is interested. I doubt Davey wants to sell though. Would be interesting to see if there's any change in the top holders.

 

[Ibetfixed]

BET Would be a gift at $600mill .. the shorters would love that ! Surely this company can grow to a 3 or 4 billion dollar company in the next couple of years .. even just with what they have currently in the pipeline .

Not being negative but … Todds comments that with fixed odds kicking off in the US and the new Newscorp consortium deal that the annual revenue will grow to over $100mill a year … BET did $25mill in revenue last quarter ie x 4 = $100mill ?? This is without fixed odds and the new Aussie full service bookie deal … I would have thought that we will be hitting $50mill a quarter in the quarter ending Dec 2022 with these new deals ??

Shorters will have more fun if the march quarter due to be announced doesn’t hit $30miil revenue … and ….if the numbers for the quarter were strong that they wouldn’t have left it this late in the month to release as the strong growth/positive announcement …. Ie was the investor presentation done before the quarterly figures were announced on purpose to try and soften the blow of a quarter that hasn’t shown much growth ???

Although I could understand that Jan Feb March of each year Is traditionally the quietest punting months of the year and maybe $25 mill revenue for the quarter is actually ok ???

 

[Ibetfixed]

I think the $100M revenue comment was just for this year……..we wont get much out of FO and the New Deal this financial year as it is not that far off…….they were projecting $77M for the year, so if they clear the $100M mark then that would be great.

I think this qtr could be $27M and the 1st Qtr next year will start with a base rate of $35M

wont be long till we find out!

Agree with you Reg … but Todds wording was that he tagged the $100mill revenue under the same umbrella as the fixed odds and new consortium deal … I would have thought that the better way to phrase it was … that our current rate per quarter is equivalent to $100mill revenue pa .. and that is WITHOUT allowing for any income from fixed odds or from the new consortium deal.

Anyway … all good .

 

[Slowlearner87]

TB advised in the webinar that everything is in place to take first bet May 7. Monmouth Park website backs up comments just need a good 4C and hopefully a licencing confirmation at the same time.

 

[Lattelarry]

Found this article (https://www.playnj.com/news/monmouth-parks-opening-day-arrives/64060/) which says:
At some point in this campaign, perhaps early, Monmouth Park will become the first track in the country to offer fixed-odds wagering on specified races. This allows gamblers to lock in betting odds at some designated point in advance, rather than experience the fluctuations of pari-mutuel betting, which changes odds right up until post time.

 

[Lattelarry]

someone just sold 800,000-ish - must be really trying to push it down on a flat day

 

[Slowlearner87]

There is a buyer that just keeps loading up the bid 54c every time it gets hit. Very interesting to watch, here’s hoping the buyer knows more than the seller!

 

[RobDBank]

Just an idea and only thinking about it because it’s getting close. But how informed do you think the average Punter is. If you are at the race course and pari mutuel is offering more money before the race. Does the average Punter look forward and bet on Fixed Odds offering less but probably paying more?

 

[Lattelarry]

Sounds like we will get a FO announcement tomorrow - no idea if it will help but its better than nothing!

 

[Lattelarry]

There is a buyer that just keeps loading up the bid 54c every time it gets hit. Very interesting to watch, here’s hoping the buyer knows more than the seller!

Seen it again - another at least 800k dumped - wonder if its Davey or shorters?

 

[Just Westy]

Seen it again - another at least 800k dumped - wonder if its Davey or shorters?

I expect it's Davey and will probably continue until he's unload 20m or so shares.

 

[Lattelarry]

I expect it's Davey and will probably continue until he's unload 20m or so shares.

That would be my guess too. The lower it goes the better a buyback is looking. We sold to Tripp at $0.7 - lets buy back at $0.5

 

[This is Anfield]

Just an idea and only thinking about it because it’s getting close. But how informed do you think the average Punter is. If you are at the race course and pari mutuel is offering more money before the race. Does the average Punter look forward and bet on Fixed Odds offering less but probably paying more?

Interesting question Rob. I liken it a bit to the stock market. If you like a company and think its fairly valued you will invest. In punting if you have done your form and think a horse is fairly priced at the fixed odds on offer you will invest. All punters know the final price on the pari mutuel is often less than the fixed odds. Its all about educating the punters on the benefits of fixed odds which i would think will be a big part of the advertising blitz when we go live.

 

[Just Westy]

….and maybe for the first few weeks the Fixed-odds are going to look a lot more attractive….just to get the punters to have a go!

They will do comparisons after every race and won't take long to take off if FO is offering better dividends on the same race.

 

[Lattelarry]

The Macquarie Australia conference is on now https://www.macquarie.com/au/en/perspectives/australia-conference.html
Too bad Todd didn't go along and ask why they are shorting us so hard.

 

[ScottBET]

Looks like TVG need some help with their platform, do we know anyone that could help?