Sorry. Last sentence of first post should have said, Even New Jersey isn't in the top 10 most populated states in The U.S.. Imagine if we got California, New York or Florida.
25 Nov '13
There are clearly a lot of hoops to get through in getting approval in many of the U.S. states, but I do believe that if New Jersey takes off and starts drawing large tax revenues it will influence some other states to legalise online gambling. This discussion is so vast. I could go on for hours. But, have to get back to work. I hope this was helpful.
25 Nov '13
Hi Albus, I am still tracking and invested in Bwin. There are so many variables that will influence whether Bwin are successful in the States, but the near term future looks good. There is a lot of discussion about our (Bwin's) presence in The U.S. previously and how we had 40 - 50% of the poker market. Poker as a business has changed drastically since 2006. The number of operators then was far smaller and there were fewer players. There have already been 12 companies approved to operate in New Jersey and there are likely to be many more on the way. There are also many more players, but most of the new players will be unfamiliar with Bwin and whilst recognising Bwin as a strong brand, I don't think any significant proportion of people playing prior to 2006 will automatically go back to Bwin. The worldwide poker market is estimated to be currently worth about $33 billion annually and America already has an estimated 10% of that, so the possibilities are enormous. There is a lot of talk about Poker Stars wrecking the party. I would be amazed if they were in the frame to get a license any time soon. Aside from the fact that they operated in the U.S. for several years in breach of U.S. laws, their head, Isai Scheinberg is still, I believe, being pursued on criminal charges, even though Poker Stars have settled with the authorities. It is near unthinkable that they would be granted a licence with him at the helm. Therefore, Poker Stars absence will give Bwin and their competitors ample opportunity to mop up players previously with Poker Stars. However, I think a large part of Bwin's and all other online gaming companies in the U.S. success will be based on their personnel, the strength of their relationships, both with the companies that they have licensing agreements with, in Bwin's case Borgata and Amaya and with non gaming companies, as we have seen with Facebook.. The quality of their offering and its relevance to the U.S. market will be massive. What works in The U.K. may not work in The U.S. In terms of personnel we are starting to move in the right direction. The appointment of Jeffrey Haas was a smart move. I am concerned that the board have not made many other appointments of his calibre. I don't know a huge amount about the operations of Borgata and Amaya, but particularly Borgata, with its brands, including MGM, will give us a massive platform from which to develop our brand and drive up player numbers. In terms of the offering and how it is received, we will have to wait and see. Another big consideration is how many other major states licence online gambling. I say major because it is the highly populated states that will make a difference. Delaware and Nevada already have approval but Delaware is one of the lowest populated states in The U.S. and Nevada is very far down the list and already has a very ingrained land based casino culture that no other state has. Even New Jersey isn't in the top 10 mo
22 Nov '13
RE: Current Price
Wolfe17 - Do you still track BPTY - how do you think the US online gaming will pan out - who will be the big winners and losers
21 Nov '13
When the share price was £4.80 I thought it was over heated. It now appears oversold. A poor summer on the sports betting front and large amounts spent on oversees acquisitions resulted in diminished profits. However, the sports betting market will pick up, particularly going into the World Cup year and the ventures into Australia and The U.S. should be the start of a process which propels us from a U.K. leader into a major global gaming company. Aside from ventures abroad, the development of other avenues, such as mobile gambling, should significantly contribute to this growth.
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