I would buy anything under $2/share. You may have to sit on it for a year but the return on investment should be fairly substantial.
I wish that I bought at $1.4 as the bottom, but I am not. I bought at high. So, I just watch that other investors are winners. How should I do, buying more?
Won't happen. Institutions in at 6-10$ a share on this one. They'll hold dover for its future payout value as an internet gambling consortium.
DDE is the next Penn.
It was a quiet launch. The loud launch will be later this month when the State Lottery system advertises it all over their website.
Interesting Twitter just IPOed..... a lot of fresh money that just made about double today will be looking for the next internet play...... here it is.
Sentiment: Strong Buy
For all the social ills it could cause, it is like the prohibition era. People will do what people want to do.
All states are broke and they need additional sources of revenue. This I call the "cannabis profit" ... the profit of revenue from sources considered "sinful".
Now, you don't have to feel 100% shameful as some of the money does get cycled into good causes like scholarships for children etc, and also for balancing the budget and ultimately righting the ship of our economic mishaps in this country.
With that said, which of the 3 states would I want to be in, in the future? Well you can take Nevada with a population of 2.8 million, divide that in half because probably about half are of legal age to play, so just say 1.5 million people. Split that into the 20 or so casinos that will likely operate in Nevada and you get about 75,000 people per casino.
Now lets go to New Jersey, the claimed state of 12 casinos and the demographics get a little better. NJ has about 8 million people, approximately 4 million legal "potentials". This gives you about 330,000 people per casino.
Now onto Delaware. A state of about 1 million people. Potentials of 500k. Delaware's situation is a little different. Of the 3 casinos, only 1 is likely to get a bulk of the online profit. Why, you ask? Because DDE is going to comp the other 2 casinos out of existence. DDE has Nascar, class 1 performances, and other amenities that the other 2, Del Park and Harrington just can not match.
In other words, if you play online poker at DDE, you will get so many extra "freebies" like a free Nascar ticket or other live performance. The other states like Nevada and NJ have virtually nothing to distinguish the casinos apart from each other and will be in fierce competition. It is clear in DE who will be taking in the majority of online players.
So although, NJ's demographics are competitive with DE's, there is only 1 dominant casino in DE and they will take in the majority of players.
Sentiment: Strong Buy