To me the overall report is disappointing. Sure turnover and client numbers look great, but net win is the most important one, in correlation to revenue. To get negative -$5.1m in the US side of the business, specifically -$9.3m in New Jersey where you have a strong foothold is disappointing because they spent $43.2m in marketing so far overall states. The Australia side of the business has basically salvaged these quarter. They need to get there US net win growth going or I might have to sell out and think about buying Draft Kings. Other betting companies are doing much better then PBH in the US.
Next thing that disappoints me is the 17% increase from pervious quarter growth rate. Draft Kings has a growth rate of 88% from Q2 to Q3 (2020).
Ann: Q2 FY21 Investor Presentation, page-24
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