I am sometimes criticised for featuring the chairman’s companies in this column. But I do not care provided I am confident that my comments are reasonable. Further, I know something of the world of horseracing and thus informed sufficiently to enable me to speak out.
This morning, the chairman’s Webis (WEB), still only capitalised at 1.5p or £6m, announced that its deal with Frank Stronach’s Monarch group of racecourses in the US is to be extended. The shares were .9p to 1.1p last night and are now 1.2p to 1.5p.
This is a speculation which is worth having a little bet on.
For decades the Americans have failed to get to grips with horserace betting with the result that all sorts of lunatics have dominated the legislative climate. The effect has been to cause cost and illegality to many of the citizens of the US. However, things are looking up and in a just world WEB will benefit. Trust me, I’m a gambler.
The chief architect of gambling control lunacy in the UK is the Conservative Party. Their current agent is Lucy Frazer KC MP who is the minister at DCMS. I have written to DCMS to try and explain matters to them but hit a rebuff expressed by the basically ignorant Ministerial Support Team. The rebuffers would claim that my brilliant ideas might be considered as part of a general review of the economics of the industry. But I do not hold out much hope since my ideas are radical whereas theirs is political advantage.