Opportunity knocked at the open today since 888 (LON:888) got knocked 10% on the grounds that the FOBTs in their betting shops would be restricted to a £2 stake. The only drawback to this trading decision is that 888 has no betting shops and, therefore, no FOBTs. I paid 308p. Do not forget that the major British betting operators are going to make big money in the USA. American operators need British expertise and will pay for it.
I also bought more Clear Leisure (LON:CLP) – this time at 1.29p. I reckon the sales that took it back 10% yesterday were ennui sales. Later this morning there will be a meeting of bondholders to agree deferral of such bonds being repaid. A member of CLP’s management remarked that my remark that Francesco Gardin is closely associated with Eufingest, which owns 43% of the bonds, sounds a bit sinister. I am happy to put the record straight: Eufingest was recruited by Mr Villa, Franceso’s predecessor. So, Francesco’s persuading Eufingest to stay for the ride is testimony to Francesco’s salesmanship, perhaps even his sound case. All this is bullish.
On Monday I lunched at The Wentworth Club. As golfers know this is a serious venue. The only trouble is that merely to join costs £100,000 and annual membership is £12,000. The restaurant is not cheap either.
On the scenic front I saw a vast white Roller with the number plate SINES. This is the conveyance of a Fred Sines who is a Mr Big in these parts. It was straight out of a James Bond film. Or so it seemed to pedestrian old me.
Anyway, it’s back to York today where I lost £18,000 yesterday. It has not been easy – although last night Houston Rockets trashed Golden State Warriors. This suggests that Houston is a cracking bet for the NBA championships. Indeed, I recommend a maximum bet at 3/1 or better.