NetPlay TV (NPT LN) – William Hill goes for 888, who might be next?
With William Hill making a whopping £600m offer for online gambling powerhouse 888 Holdings and the UK Point of Consumption Tax causing many operators to revisit their business models, the question is who might be next?
It’s evident that many highly cash generative online gaming offerings could be very attractive and that it’s not all gloom following the introduction of Point of Consumption tax in the UK. N+1 Singer, house broker to NetPlay point out that ‘Casino’ is 888’s largest sector and provides a strong read for the value in Netplay’s core casino business, SuperCasino While shares in NetPlay TV have started to recover over the past few weeks the valuation surely still looks extremely modest relative to those of peers and with regard to the Group’s strong balance sheet and cash pile which was £14m…