This is a great vehicle to take advantage of deregulation, with a full suite of assets that will benefit.

They have outperformed expectations, despite a really bad sports betting margin, and that highlights the benefits of a diversified model.

Poker operators are having to attract casual players who are not as profitable as the hard core and that is changing the economics of the business.

It is a competitive threat to other players like William Hill and Rank, but it's only mildly negative for them.