FY21 Result: largely pre-released given the wagering company raised money a month ago. Revenue jumped from $75m to over $194m, however losses came in at $187m which was inline with expectations. It has been a big year for the betting company, in Australia they have gone from 90,422 active client at the end of FY20 to 196,585 today. Over that same period in the US, they have gone from 20,939 to 159,321, clearly huge growth and the US is where the future lies. They have plenty of cash to target this opportunity as sports betting laws are relaxed in a huge market. They have already taken a top 5 spot in online wagering in at least 5 US states, while sneaking into 5th spot in the Australian market.
MM remains positive PBH
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