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I generally agree but again, customer acquisition costs is the big part of the equation that is rarely considered in these threads.
yup, that's a problem for RIO, that is has, at least in the beginning, a small budget.
But I think with a newish looking software + half the rake of stars + the other unique features of the software, they can go a long way with mouth to mouth propaganda and few online ads. I also hope that some pros will give the site proper shoutouts (free ads) for trying to bring beatable & fun online poker back.
They only need time to grow bigger from there.
As for stars, i wonder how much they spend. 50 million $ is awful amount of cash. You can do lots of online marketing and pro player sponsoring with that. If they don't do heavy TV ads in various western countries (and i don't see them doing this anymore), I don't know if they would break through 50 m.
But they made 877 million $ revenue with poker in 2017, to put this into perspective. Even if you further deduct some cash for salaries, office and server rent, the profit must be obscene.