EML investors should be watching PBH progress with interest. based on today's update we can extrapolate PBH handled around $100 million in bets between January and June this year.
annualized run rate around $250 million. this is in the state of New Jersey alone. we don't know how much of that EML is benefitting on deposits and withdrawals, but it does look promising.
PBH launching in the states of Iowa and Illinois next few months. these should over 1-2 years help PBH reach $1 billion turnover in the US alone.
assuming EML handles 20% of that all up and taking a 1.5% revenue margin (due to the higher nature of interchange fees in the US), then we can extrapolate around $3M in revenues at 80% gross margins. gross margin is pretty much all profit.
Bet365 soft launch in New Jersey has gone live apparently..... here's hoping we get some more large gaming companies signing up soon..... GVC is on my radar.
exciting times!!
keep an eye on Pointsbet (ASX:PBH)
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