Ann: FY22 Results Presentation, page-43

For long horizon holders like myself it probably serves us quite well for the buyback to be soaking up as much of the register as possible. The lower the price the company is allowed to buy back the better IMO.

It's easy to gloss over with all the info in the recent report but I keep going back to the increase from 52 to 72% margins and what that means for the bottom line as fixed odds rolls out across the US. Even with modest margins we would be laughing all the way to the bank, but 72% wow it's a money printing behemoth in the making!