Rocketon

What is Rocketon?

Two years later, Buffett again targeted the “gamblification” of financial markets in his annual shareholder letter.

“Markets now exhibit far more casino-like behavior than they did when I was young. The casino now resides in many homes and daily tempts the occupants,” Buffett wrote, noting that extreme volatility makes identifying sound, long-term investments vastly more difficult.

“One fact of financial life should never be forgotten. Wall Street–to use the term in its figurative sense–would like its customers to make money, but what truly causes its denizens’ juices to flow is feverish activity. At such times, whatever foolishness can be marketed will be vigorously marketed–not by everyone but always by someone,” Buffett warned.

What is Rocketon?

MGM Resorts International’s investment case is supported by Las Vegas, regional casinos, property assets and its 50% interest in BetMGM. Its own share price has been on a different journey to its online pureplay peers, having increased by 5% in a year, to $37.81 on 18 September.

“MGM offers a more diversified investment case, with BetMGM, regional gaming and Las Vegas operations reducing reliance on online sports betting alone,” says Beynon. Robinson makes the same point. “It is a Las Vegas and Macau property business with a betting JV attached, and that is precisely why it has held up.”

Entain sits somewhere between the two models. It has significant international scale and a valuable stake in BetMGM, but also more debt and greater exposure to UK taxation, as well as general regulatory turbulance across Europe.

About Rocketon

Leading online gaming software developer, EvenBet Gaming, has significantly extended its presence in South America after integrating its market-leading online poker platform with Apuesta Total. The Peruvian operator has strengthened its multi-channel offering with EvenBet’s poker software, enabling the company to capitalise on the vertical which has experienced tremendous growth in the previous 12 months.

Players will benefit from the platform’s offering consisting of over 30 poker games, featuring a mix of classic favourites and modern formats to suit all tastes and preferences. EvenBet has delivered Apuesta Total a customised version of the platform to match the operator’s requirements.

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