Hi Cute,
What you are saying is not as far fetched as some might think. Look at the situation.
(i) Directors putting in over $1 mil, converting options and taking with them a tax liability that Nick Chan is very aware of.
(iii) Getting in place a technology platform that all the competing players make use of generating a situation and fear that if a competitor took BET over, where do they stand after the agreed contracts expire. You get where I'm going here.....
(ii) I think that a takeover at $0.75 can be at a prospective 2023 PE of 6. That's good enough with the virtual monopoly position they currently hold. (These numbers are not advice, just my own extrapolation).
(iv) It might not be a bookmaker but a large US based Nevada Gaming Operation that might fight over the company with one of Nick's old employers.
The end result might be that we (as shareholders) end up with $0.75 to $0.90 and no long term benefits, such as dividends and the new owners take home the grandstand.
Place your bets.
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