Many states don't have that many licences on offer and some are done and dusted and there is no room left for new entrants. A takeover would be buying built up market share as much as licence too. Anyway, some ways to go yet, this business won't be profitable for a long time and I think most shareholders would be comfortable with that as long as they contiue expanding into new states and grabbing market share along the way.
I agree at somepoint in the future valuation will need to move to more mature performance metrics but i think that is a while off yet.
I still suspect takeover is likely in the next 1-2 years.
Ann: Online sports book and gaming market access in Michigan, page-21
Add PBH (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
95.0¢ |
Change
0.020(2.15%) |
Mkt cap ! $314.7M | |||
| Open | High | Low | Value | Volume |
| 92.5¢ | 95.3¢ | 90.5¢ | $754.5K | 805.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 14177 | 95.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 96.0¢ | 21573 | 3 |
View Market Depth
| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| PBH (ASX) Chart |