UBET a buy??

[fmhealth]

Apparently a lot of insiders think so.

http://finance.yahoo.com/q/it?s=UBET

[richrosa]

I think we missed that boat from its low a few weeks ago, however their still might be value there.

Do not be mislead by insider buying. Executives from public companies (of which I am not any longer), often buy stock at the request of their board to help raise awareness of the value in the stock that may or may not exist. They are looking to get the exact kind of attention that was given when this thread was posted.

[ddog]

wouldn't buy it with monopoly money.

[Niko]

unless you're Lloyd Miller who was able to grab about a million worth at .7

Now there's a nice inside move at the bottom.

[NoCal Boy]

Ask yourself this question. Churchill bought winticket, brisbet abd brisnet for $80MM and has less than 2/3 of the handle as Youbet on a run rate basis. Youbet has 286,000 plus names in its database and a company in United Tote that if they sell it as advertised will make the company debt free with likely 420MM in cash on the books. There are 42MM shares o/s in Youbet. If ATab is worth $80MM, isn't Youbet worth at least $100MM. That would be $2.50/share.

As for insider buying, the people that just bought 1.3MM shares at 1.63 already control the company (Brodsky and Pritzker).

Chuck Champion nearly ruined Youbet with bloated overhead. The new guys have slashed expenses and hopefully also will sell United Tote. When Youbet was a standalone ADW back in 2005 before the purchases of IRG and United Tote it was near $6/share. I am not saying it should be $6/share, but a standalone ADW generates positive cash flows with little to no CapEx.

But this is the racing indsutry, so who the hell knows anything.

[NoCal Boy]

oops. that would be $20MM in cash not 420M if they sold United Tote. $420MM woulod be nice!!

[fmhealth]

What a coincidence!!! http://www.wallstreet-online.de/nachrichten/nachricht/2392782.html

[pandy]

What a coincidence!!! http://www.wallstreet-online.de/nachrichten/nachricht/2392782.html

That explains the insider buying, they were trying to stay listed. If it falls off the NASDAQ board, the chances of their stock options being worth anything drops significantly.

[startngate]

Ask yourself this question. Churchill bought winticket, brisbet abd brisnet for $80MM and has less than 2/3 of the handle as Youbet on a run rate basis. Youbet has 286,000 plus names in its database and a company in United Tote that if they sell it as advertised will make the company debt free with likely 420MM in cash on the books. There are 42MM shares o/s in Youbet. If ATab is worth $80MM, isn't Youbet worth at least $100MM. That would be $2.50/share.Except AmercaTab was only purchased for $35.3 million (plus potential earn-outs that could take it to $42.3 million). The balance was for Bloodstock Research.

From the 8-K

"The purchase price for the AmericaTab Business was $35.3 million in cash, plus earn-out payments of up to an additional aggregate amount of $7 million over a five year period following closing based on meeting certain minimum levels of handle."

As for estimating YouBet's worth, handle and customers don't matter as much as the profitability of the business, and assets. Not knowing what AmericaTab's were, since they were privately held before the sale to CDI, makes it impossible to simply hang a number on YouBet based on that sale.

Having said that, as a YouBet shareholder that bought most of his shares at less than $1, I'll take the $2.50, so I hope you are right. :)

[InsideThePylons-MW]

Youbet is the absolute worst kind of scumbag corporation to deal with.

[PaceAdvantage]

Youbet is the absolute worst kind of scumbag corporation to deal with.Worthless without a why.

[gemcity39]

why is youbet so bad? They have ben ok in my book. Strong statement without any explanation.

[NoDayJob]

Apparently a lot of insiders think so.

http://finance.yahoo.com/q/it?s=UBET

This stock is what's known as a "To-whomer", i.e. to whom can I sell this pig? If you are an expert trader and have a lot of lipstick, you might be able to make money. Caveat emptor!