Result, page-10

a Marathon and a pact full of info call this morning...

On the soft (extra soft) launch of UK Bet 365, I confirmed my understanding with Tom post the call:

The previous failed competitor card operates differently and requires a full KYC which people could not be bothered doing. 2018 AML law now require all punters have fresh KYC so the gaming companies are in the process of getting this done. With this backdrop, 365 is only inviting customers to apply for a card if they are customers that historically win, withdraw their winnings to a bank account and have a current KYC check. In that way once the customer clicks on the box there is no process that will stop them receiving and activating their card.

On this front I think it's prudent to assume a longer than previous ramping up and a smaller eventual GDV.

But hey they are in the contract negotiation stage wit 8 european bookmakers now and will announce as signed, so that's something to look forward.

Plus Opex expected to be overall flat barring inflation effect, which is a relief for me as all their facebook page is doing is advertising Jobs...