If you read some of the recent announcements in detail, especially the New Jersey one.
"We look forward to updating the market on the sub licenses deals which we expect to award to operators over the coming months."
I am pretty sure that Betmakers will be running the racing wagering operation of the operators who sign up for fixed odds in New Jersey. Bookies probably won't attempt to do it themselves.
Sure, there is probably no imminent price sensitive news, otherwise I am not sure if he could have traded in the companies shares. However, I think he is probably thinking that the window will probably be closing soon, for when he would not be able to trade in the company's shares. As one would think that discussions would probably have to start in the not to distance future with potential partners in New Jersey, if fixed odds is to be up and running in March.
So why not now while their in the $0.60-0.70 range. He was sending the market a message.
BET Price at posting:
69.3¢ Sentiment: Buy Disclosure: Held
