It had to happen one day and now it has: I am told that there has been a sharp downturn in online sports betting – perhaps down 20% in the last few weeks. This is a really big decline. I have shorted 888 (LON:888) at 400p. Where it goes down to or when I am rather less certain.
Last Friday I hosted an update for Red Mist, the serious corporate misconduct investigators. Their first attack has been against Lord Alli of Norbury, who established Koovs in the UK but seems to have ended up with the Indian subsidiary on very favourable terms. Legal action has started.
Red Mist’s website (www.redmist.com) gives no address or contact details. Instead, there is the strapline “Don’t call us. We’ll call you.” Tom Hayes has been signed up and the intellectual fire power being brought to bear will surely yield best returns for clients.