No surprises in TSG Q3-2019 results. CTRL+F
poker for the highlights.
https://www.prnewswire.com/news-rele...300953585.html
* Poker revenues down - jurisdictions disrupting access to TSG's poker & casino products
* Poker revenues negatively impacted by July 2019 closure of Switzerland market
* PokerStars PA becomes first internet P2P to market in that state
* Poker still viewed as a "cost-effective customer acquisition" cross-sell mechanism into casino/sports betting
* TSG revenues helped by cross-selling rates (getting less-profitable poker customers from poker into higher margin sports betting/casino products)
* Sports betting revenues growing
It will be interesting to see how the Flutter-TSG merger (parent company Google) plays out in 2020. This could clear up some regulatory/market access hurdles in certain jurisdictions
if investment/time/effort is made into shoring up the quality of real money internet poker games. This doesn't really bode well for smaller online poker competitors at all imo, regardless of whether they're licensed or operate in an offshore/unregulated capacity.
I'm curious whether online poker games might eventually cross-over into the upcoming
YouTube Gaming/
Google Stadia infrastructure in terms of news, regulations, and entertainment.