The delayed deadline for JKO is not going to be good for ALL's share price. There are some brave investors who profit from turbulence and are at home in its murky waters, but a lot more big and small investors who, more than ever, crave something resembling certainty. Or at least stability. The delay only prolongs doubt, as it confirms that JKO is not only serious about proceeding but also, importantly, potentially capable of it, to an extent that Gopher never was. I think these factors will impact ALL's share price.
On the positive side, ALL has an established presence and regulatory approval to operate RMG in the USA, while JKO does not. ALL has the backing of Playtech's board and proxy advisors, JKO does not. ALL has made a bid, JKO has not. ALL has much more going for it in so many ways that it's hard to conceive of a JKO victory.
If there's one thing the pandemic and life in general has taught us, it's not to be too sure about things that look like sure things. So, although I'm not betting on ALL succeeding (i.e I'm not buying more shares), I think it will emerge the victor. I hope JKO doesn't take it up to deadline before announcing that it's not proceeding. In the meantime, I am expecting ALL's share price to go down.
ALL Price at posting:
$43.74 Sentiment: Hold Disclosure: Held
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