I didn’t say Apple and Amazon will be in the gambling industry. I said they’re going to fight for broadcast rights for all major US sports including NFL. This means NBC’s content offering could shrink significantly over the next 5 years, leaving this deal looking pretty ugly. PBH just partnered with a dinosaur.
CNBC is live reporting news right now on a huge William Hill deal in the US that just got through. It’s so significant that it’s got draftkings stock down 5%+ as I type. For what it’s worth they expect the legal sports betting market to be $12.5 billion in size by 2025 so I don’t know where others are seeing $30bn.
I feel genuinely bad for those who got sucked in today...
Ann: Intention to Undertake a Capital Raise, page-171
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