HEDGE FUNDS NOW GONE LONG

should finish 35p

maestro gets it spot on yet again...why follow the city porsche wankers when you can follow the maestro

But Maestro will it go higher than 45p - that's what we are more interested in.

will if we get a bid like 888...there price is a bargain at the moment

Looks like the hedge funds are playing their usual games again:

LONDON (Thomson Financial) - "Sportingbet PLC's chief executive Andy McIver has categorically dismissed market speculation that Austria-based online gaming firm Bwin Interactive Entertainment AG could launch a 90 pence a share offer for the company.

A bid at 90 pence would value the business at around 390 mln stg, but analysts believe 60-65 pence is more realistic.

'If anyone thought 90p was right, our share price would have moved up to 85p rather than 55p. I assume it's some mental hedge fund,' McIver said in an interview with Thomson Financial News.

McIver confirmed that talks with Bwin, which were originally announced in March, are continuing. However, he emphasised that they remain protracted due to 'complex legal, regulatory, and operational issues' and a deal is still 'some way off'.

'It's only going to be done if we can sort out the regulatory issues and it's only going to be done at a price that is right for our shareholders,' he said.

Addressing directly the regulatory concerns clouding the negotiations, McIver admitted there continues to be 'some overhang' from the introduction of the Unlawful Internet Gambling Enforcement Act (UIGEA) in October last year which effectively banned the industry in the US."

The charts looks like the corner may have turned, heavy volume on Friday must indicate something. There were 2 lots of 3.25m buys at 58.5p, maybe directors buying?

I see that if this can break about 58p the downward trend could be broken, and it will be approaching the 200DMA very shortly.

Some interesting reads re US gaming laws in past few weeks. However do the investors have the nerve to get back into gaming shares. Should be interesting to see how this and others develop in coming few weeks. These shares have been quite in the past (sp wise), now will they start to grow behind all the sell off?

Surely this is now trading on it's takeover valuation price +/- 60p?
Until the BWIN deal is confirmed or abandoned, I can't see this going anywhere much. McIver has said the 90p valuation is absurd & that the 60p price is more realistic. There is no reason now to believe that anything is going to change that valuation, particularly as there are no other bidders.

Harrycat, IMO i think sentiment for the gaming stock is growing back.

If SBT does receive a bid from BWin I dont think they will be the only one interested and I dont think the sp will stay around 60p either. The sp already tested 60.5p (high of the day) on last Friday.

What do you reckon about those big buys on last Friday?

Are long on SBT?

harrycat.. CEO OF QXL said their firm was overpriced at 700p when they bid for company..went to 20,000p...most ceo's are twats

Am I missing something here then?
McIver reckons the stock is worth 60p.
The analysts reckon 60-65p is a fair valuation,
Why would the sp go above this now, as it seems that the BWIN deal is approaching completion.
Sure, there's going to be some pre-sale hype, but NO OTHER company is currently interested in making a counter bid. Why do you think others are interested? I may be wrong, but it is pure fantasy to think otherwise at the mo.

Maybe McIver is stating the opposite, no business minded person would reveal the true cost in they want. IMO the statement he made does not indicate that is happy with the 90p bid at all, let alone the current sp of SBT. I dont believe in analysts either.