Ann: FY2022 Results Media Release, page-95

I don't know (and nor does anyone else) what percentage of ALL's revenue is dependent on problem gamblers spending more than they can afford. I would think it's small, but there's no way to know. There are some who think that anyone who gambles has a problem, but I don't think that's the case. As we've discussed before on this forum, there are many people who enjoy a glass of wine but you wouldn't call them alcoholics. Likewise, there are people who like gambling and regularly indulge – lottery tickets, horse races, the stock market, whatever – and are not addicts.

NSW (and even the whole of Australia) form a relatively small part of ALL's total revenue. In terms of the company's global presence and market cap, it's really stretching things to a silly point to think that what happens in this state is going to have a major impact. Of course, no company can afford to overlook any problem in case it becomes the spark that lights the fire. But I don't think ALL is in trouble now, nor will be in the future, due to what's going on in NSW.

As @JoeGambler points out, ALL's big revenue stream comes from USA, where online real-money gambling is the big ticket. ALL is well-placed to take advantage of that... although I stand by my thinking that interest rates, recession and regulation are ongoing concerns for ALL.