Of course this is only my opinion but I actually really disagree...

Of course this is only my opinion but I actually really disagree with the above.

While you're right the losses are severe. It's a gambling company, they can literally print money whenever they wants. If it was concerned about today's profitability, it would stop trying to expand and instead focus on its core markets which might I add are already profitable.

To me they had two choices.

Hang around Australia and be slightly profitable or go overseas and try to make real money in an emerging market like the US is with various states opening up to gambling.

Not taking the opportunity to 100x (and yes it's that large if they completely took NY, Penn etc) for a little bit of upside today is honestly just a massive f* you to shareholders as the opportunity well and truly outweighs the risk.

I actually think they are succeeding as well. Sure it cost a bomb, but they have exclusive deals with NBC in states like Penn that'll pay itself off for a number of years.

Add to it they are one of just 8 providers in New York which has an estimated $150 billion in gambling a year. Even if they keep the current 4.2% market share which they say they have (will go up in places like Penn and NY), out of $75 billion (half gone in tax) that means they will get more than $3 billion in transactions. That alone means they'll double in current size.

So yeah I get the hatred of it right now and yes it's all ifs and buts, but I do think long-term it has all the chance to absolutely knock this out of the park.

All down to management from here.