you have to keep in mind 2 factors:
1. the average American has no idea between who is Bet365, Ladbrokes, Betfair, Sportsbet, PointsBet or any other international gaming brand. they all have the same brand equity on day one. in a matter of 3 months PBH took 4% share of NJ from a standing start. with $70M cash to spend post IPO, there is no reason why they can't take a small share of a huge pie.
2. just a small share of such a huge pie is probably as big as the entire Aussie market. additionally, as I have mentioned previously here, even if they do a half ass job, just their licenses in each state they establish over time, will be a very valuable asset for a potential acquirer looking to enter the market. licenses are very limited in each state so it is something to keep in mind.
you have to keep in mind 2 factors:1. the average American has...
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48.0¢ |
Change
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Mkt cap ! $156.2M | |||
| Open | High | Low | Value | Volume |
| 46.0¢ | 49.0¢ | 45.0¢ | $948.0K | 1.997M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 37599 | 48.0¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 49.0¢ | 14772 | 2 |
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