one of only two listed direct plays on online gaming

The management have certainly blotted their copybook and the market is not swift to forgive but BSS do look interesting now. Today there is news that results have been favourable in the States which bodes well for BSS. There is still £22m net cash so the EV is only £47m and Evolution say if gross win percentage reverts to the long term average, which it will do over time, the company should make US23 to US34m. The higher number gives a E/EV of 2.62x. There is also a yield of over 7%. Providing results to 31.1.05 come out inline confidence should rebuild and gradually a re-rating will happen. Risky but the downside looks limited to me.