Ann: PointsBet Takes First Bet in New York, page-21

A new market is always good news as it broadens the client base. No one expects a new state approval to move the needle much anymore as PBH is now expected to gain these licences. That gives them credibility. That does not mean each new state approval is not good news. New Jersey is by far the best performing PBH state at the moment, why, because it is the state they have been open the longest. It takes time to gain market share and traction. Of which, there has been very little of. PBH was never expected to make a profit in 5 years. The whole tech sector has been sold off massively. I don’t know why it is so popular now to bag the business model. Remember they were $1 a share at one point. It is a volatile stock.