The Barrier to Entry to the biggest legal market in the USA is pretty much insurmountable for the next 10yrs and has a sunk cost of $25M last year for just the license.
Just ask Bet365, Fanatics or Barstool, on what missing out on the biggest legal market in America means, never mind the tax rate.
They wouldn't have spent time, money and energy putting a bid together with a hefty license kitty if they didn't think it was worth it - as it currently stands the tax rate is 51%, if those books somehow won their bids in NY the tax rate would be... 50%. And they all still accepted that.
PointsBet and NBC, huuuggge. PointsBet beating the worlds biggest player (Bet365) into NY, huuuuuggggeee. PointsBet ability to operate around the clock in 4 countries, huuuuuugggggggeeee. Pointsbet opportunity to leverage into the few legal iGaming states, huuuuuuuuugggggggggggeeeeeee.
You get my point.
@Baron1962 Goodluck with all your investing, I won't be responding directly your comments any longer. You believe what you want to believe. I'm realistic because I know the industry, I know the players, I know what analysts miss and I follow the execution strategy. I've been adding to my position on weakness. If they stop executing, my view will change. Pretty simple.
PS: the price is getting manipulated by the big boys and some shorts playing on volatility. Look at the UBS ann today. Longs just have to ride it out, or if they have capital to deploy, enjoy the work of the big boys - you can swim with or against the tide... Have a look a the markets in General....
I just watched an amazing Half Yearly from another company with huge free cash flow and inbuilt growth, get absolutely slaughtered today down 12% - possible M&A vwap suppression strategy (update they just announced Share BuyBack in response). Fear is ripe across the board. Which is great for contrarians.
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Last
69.0¢ |
Change
0.010(1.47%) |
Mkt cap ! $228.6M |
Open | High | Low | Value | Volume |
67.0¢ | 69.3¢ | 66.5¢ | $228.2K | 335.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
6 | 17593 | 69.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
69.5¢ | 26380 | 15 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
12 | 24894 | 0.685 |
5 | 10207 | 0.680 |
10 | 63609 | 0.675 |
6 | 15675 | 0.670 |
2 | 6346 | 0.665 |
Price($) | Vol. | No. |
---|---|---|
0.690 | 10070 | 6 |
0.695 | 24814 | 12 |
0.700 | 70306 | 8 |
0.705 | 46829 | 9 |
0.710 | 50423 | 10 |
Last trade - 13.57pm 07/10/2024 (20 minute delay) ? |
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