Quite the double take reading the CEO's rose-tinted report compared with the bare facts that turnover on tote, sport and fixed odds are all down.
Numerous mentions of merchant fee increases yet the breakdown in 7d shows a cost of $2.3m, the same as 2018.
Where are the large technology costs related to the 'fixed odds platform'? In 7a only $1.5m is noted. Does this mean there is a massive overhang about to be dumped into the next period's report???
There is no cash in the bank, so unless revenue has spiked up more loans are presumably being taken out right now to cover stakes, software leases and any further fall in revenues.
This will be fun, not much room on the equity front to absorb a $50m lease. Government handout for Christmas, anyone?