http://boards.fool.com/stars-group-32848500.aspx?sort=whole#...Stock up 65% since OP in 7 months. https://www.bloomberg.com/news/articles/2018-04-22/stars-gro...Up 14% today. If US SC legalizes sports gambling [at least in NJ to start] look for a bigger bump.
Tacking on 10% today. Over $35 and a 12-month high.
BetStars opens online in NJ supposedly tomorrow, just in time for NFL season. Back down to 10.5x fwd PE, which estimates don't include sports as of yet.
Was hoping you'd post an update on them. Lots of chatter on excessive debt and whether or not that's a concern. The stock had a great run and has been getting hammered lately (along with a lot of the other gambling-related sector). I think the long-term thesis is still strong.
The good thing about StarsBet is that is essentially free money for them. I doubt they even need to hire extra server time, sports betting is just so simple to execute. Especially since they acquired the needed expertise so not like they have to figure out how to run a book from scratch, which in the past has led to some egregious losses by stupid people who thought they were smart. The UK people have been running legal books forever and know what they're doing. Just stand in the middle and make your 5%.
Stars has plummeted with other value and casino stocks, down from 11x to 7.7x however:1) Won a reversal of a $870m lawsuit in Kentucky at the Appeals Court,and2) Signed with the NBA as the 'official' gaming operator for the league of NBA brands and data for online gambling.So they can use official logos, et al.Stars also signed agreement with another casino chain which will give them exposure to sports gambling in 13-14 states now.More sportsbooks opened in PA today, and more are supposed to open by March Madness. This is a very long-term secular tailwind.
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