What can I say? Not going to include any more detailed analysis as people obviously aren't that interested in it.
Half Year results this morning were less than impressive for me, especially as they include the World Cup which as we know won't be around for another 4 Years now - What is the next Event that can replace that in the figures? I can't think of one either as I don't feel the Olympics will have the same attraction to Punters.
They have admitted the Poker business is collapsing and to be honest the only way I see from here is down.
The only positive for me is the Cash Balance has increased but you would expect that as these figures include probably the most pivotal quarter in the recent development of the Company.
Should have really backed my instinct and Shorted the shares when I did the original write up, but it's not really my style to do that.
The shares are getting hammered this morning, but I get the feeling this is just the start.
Unless a large market opens up for them in the short term, you would have to think they will need to introduce some further charges to even begin to justify their current Market Capitalisation. Without either the next set of Results are going to look dire.
Having said all that, there are many people out there who know much more about it than me and they are keeping the Share Price above £10 for a reason I am sure - If anyone knows what it is could they let me know please?
For me they have got a Fast Growth Company valuation but I don't think they are even growing organically at the moment...............