Fanatics / BetParx

being reported Fanatics to pay between 100 and 150m USD.

Bet Parx has access to 5 states , NJ, Pennsylvania,Michigan, Maryland and Ohio.

has 2.9% igaming revenue in Penn, largely off the back of its owner , Parx Casino, the biggest casino in Penn.

rest of states, the igaming and OSB share is well under 1%

but we knw Fanatics isnt buying the client DB.

Playtech and Kambi provide the tech and it has been well documented in the US that kambi tech is sub par


so here you have Pointsbet , 14 states soon to be 15.
equal best tech in the entire country with unrivalled algorithm inputs from oddsfactory and nelli, so much so that versus DraftKings it is considered much better.

so based on the Betparx likely transaction , whats PBH US worth ?

at least 150m....
likely double that
then add some more for the DB of users likely to be 10x bet parx
then add some more for the additional licences , like NY which is prob now worth 50m.

but look at PBH market cap today.... take the cash balance away and you can buy them for 150m AUd

its hard to believe....

especially when 200 to 250 mil is the value being considered for the Aus business only

by next NFL season pointsbet shouldn't be burning 60/70m cash per qtr, if its just the US business , they could very well be close to break even imo....

when will the market bashing end ? its overdue for some decent luck....