PBH - long term view, page-18

Not sure where people get there NY figures but to date it has done 1 billion in 2 weeks. Keep in mind that is with NFL playoff games. This is the peak of the gambling year in the US with all sports playing and NFL finals and superbowl coming. I would guess the NY yearly turnover to be more around the 20 Billion, which is still huge. If you look at Pointsbet's presentation i thought the total for the whole country is estimated around 75 Billion a year. When you include Canada and some maturing of the market i guess it could reach $100 billion annually. 3-4% of that would be nice.

As for marketing spend it seems to be be every idiots comment. What new business do you open and not spend money on marketing? How exactly do you grow customers unless you have a relative marketing budget. The US market is a greenfield market, its the wild west land grab. Every company competing for that share is going to burn money short term. However with the way the the states come online one at a time it is going to be a dragged out cash burn. It already seems the promo deals from the big guys (draft k and fanduel) have started to drop. Pointsbet have the second best promo for the NY launch of any of the companies except Ceasers. Check Ceasers figures for the first two weeks of NY they killed everybody.

I think management have hit nearly every target and there understanding of the market is getting better, their tech stack is almost market leading and they control it all in house. My belief is they will be a popular takeover target this year because of there licenses and tech. People where whinging about getting a NY license because of the expense etc, imagine if the didn't get one!

That's my 2 cents.