. I think this is worth a play here. Two industry veterans...

. I think this is worth a play here. Two industry veterans coming off some self indulgent pie in the sky ventures using other people's money. Tripp pissed some Murdoch money up against the wall trying to turn a new venture into the dominant player too quickly with the 5×100/1 bets. What he got was 300 000 clients, 200 000 of whom didn't have another bet after the initial offer. Sullivan has used the float money for a free swing (for him) at the American market which hasn't come off. So they've now merged, each putting some skin in the game by participating in the raising to compete in a market they know well. They'll play the Australian owned card for all its worth as a marketing tool competing against foreign owned giants (Ladbrokes, 365, Sportsbet), make a few acquisitions to achieve scale, then look for a buyer among the larger firms to take them out as a competitor. Hopefully at a decent premium to where the share price is now.

. Reaper