Listen: New Jersey, Executive, Sirius discussed on Bloomberg Intelligence
"Cancel tours for hundreds of thousands of travelers stranding tens of thousands far away from home I'm Jim Johnson. and I'm the questioner Bloomberg world headquarters in New York let's check this hour's top business stories on the markets China's ministry of commerce said officials from the U. S. in China that met last week in Washington held constructive talks on trade no Chinese delegation had been scheduled to visit American farm states beginning Monday however that trip was canceled and announced on Friday now China business news is reporting the change had nothing to do with trade talks and that America will extend an invitation for another arrangement The New York Times says the trip was canceled out of concern it would turn into a media circus and give the misimpression that China was trying to meddle in American domestic politics south Korean exports for the first twenty days in September cratered by twenty two percent chip exports alone contracted by forty percent right now the Korean won against the dollar weaker by half of one percent and in the equity markets south Korea's cost be is down a tenth of one percent Britain's travel from Thomas cook group has filed for bankruptcy talks to raise additional funding failed in the face of dwindling profits along with a pile of debt now tens of thousands of British tourists of stranded across Europe is one hundred seventy eight year old company became one of the UK's best known brands crude oil is trading higher after the Wall Street journal reported full repairs to the attack Saudi oil fields may take months not the ten weeks that Saudi Arabia had initially promised right now WTI crude higher by one percent in the electronic session at fifty eight sixty four we check the markets every fifteen minutes here on Bloomberg no trading in Japan today given a holiday right now in Hong Kong hang sang is down four tenths of one percent John hi composite is weaker by one percent and in Sydney the SX two hundred is higher by half of one percent. global news twenty four hours a day on air and a tech talk on Twitter powered by more than twenty seven hundred journalists and analysts this is Bloomberg these birds Helen with Alix steel in full swing the phone number everybody we're gonna be here each and every week at this time tapping into our Bloomberg intelligence analyst covering more than two thousand companies in a hundred thirty industries worldwide one of the biggest trend sweeping the gambling business is sports betting putting the sports books in the casinos it's not just Vegas anymore help us dig into the store we welcome Brian Egger brain covers gaming for Bloomberg intelligence so right thanks so much for joining us close to sense what's going on with the sports betting business it continues it just kind of grow across the country isn't sure. the Supreme Court overturned a thoroughly three band last may we see the number of states beyond once we talk about the past that have gone and then we go live on it it's excellent as of now we have sports betting in action sports books both the promoter mobile in twelve states the on the bottom which is really the only place you could leader in unrestricted way before last may which cause you to question which ones are behind and which ones had the first mover advantage versus ones are actually is doing something better. I acted I mean I think most notably New Jersey well recently via out level of revenues generated from sports betting in New Jersey were close to or close to matching that in Nevada in a lot of that some eighty percent does come specifically from mobile so what we've seen there is a bit of a first mover advantage for state like New Jersey for example I think it was that long the second state maybe after Delaware actually have active sports books I also love that depends on whether or not states allow little weight during and from some users of apps like drafting and Sandel you'll know how acceptable that out those apps aren't states like New Jersey and how popular they are you look at across a number of industries and your company will talk about boy we've got a great Mobil experience what certainly true here with this the sports betting issue so it's taking a Jersey for example Brian how much a sports betting that we know is Addis traditional sports book at a casino versus Sony's mobile apps full disclosure here Paul lives in Jersey by the way yes there's an active me and him asking this question. neighboring town. it's probably an eighty twenty in terms of that percentage of sports bets that will please meeting that eighty percent were placed online and via mobile apps in the balance was placed at the actual casinos and race tracks for that to do that the breakdown that mobile really has dominated and if we look at the landscape and work with other states that are authorizing giving the other a couple notable exceptions of state like New York for example where you have sports betting it for us secret deals but mobile is not yet in the picture and so I think that really does have struck some of the state that introduced sports betting without a mobile alternative because mobile so popular so how sticky though are these players in that say if New York legalized gambling sports betting in this way and they they do get on at some point mobile is Paul come over here to New York in during his stay in New Jersey like house to hear the people that we've been it if you recall kind of the Lincoln tunnel fact that people are in New York we'll go over it so there are located in New Jersey and later in the summer that does happen the authors this but the base I think it's because this is a state by state position is all forms of casino in sports betting across the country you'll certainly having a sports betting infrastructure surrounded by states that don't put you with someone of a a better competitive advantage and added it was sports betting is really most notably helpful is that the traffic driver for casino activity and so there's a bit of a benefit if you've got it in your state and neighboring states casinos aren't permitted to have it that's where I want to go Brian so for the states that have put it in and it's have the casinos themselves in a meaningful pick up in business either in their sports book I see that's going into a new revenue source but is it been really it's really positive for the gaming industry. they like the Jersey were mobile so prominent and know exactly how big the revenue pie there in central in other states when it's strictly a proper driver I think it's a bit too early to judge but I I will say historically on the weekend that was really a non event for casinos without sports books but now that the potential to get quite busy for example during NFL season or the NC double a basketball regional semifinals of the World Series where is in past those do fifteen of would have had no reason to be particularly busy on the weekend so that makes sense the truck driver a what state is totally missing out right now about what we've heard about recently is is not so much a fifth of missing out on a state that kind of like the punch well right now we've got active sports book some two dozen of them in states like Iowa and Indiana and by the way between the states I was the only one that has people that it now of course those states between the state of Illinois athlete massive gaming expansion bell you could see no sports broke the variety of different forms of expansion of a past that early this year in June but as of now the expectations they won't have sports betting for the first quarter of next year so really the way you think about it is morally particularly in markets where they compete against neighboring casinos whether it be your Chicago and yet the Quad Cities region the celebrity like the Beatles are missing out on an entire season football betting really great perspective thank you Bloomberg intelligence analyst Brian agar Paul as a Bloomberg intelligence person excimer intelligence you get to go sample all of the sports betting in different states I've been known to go to a sports book every once in awhile and in Vegas only though but that it's amazing how to spreading across the country early brains all over that the coming up on the program the Hong Kong exchange like this the face an uphill battle for the London Stock Exchange listen to Bloomberg intelligence on Bloomberg radio providing in depth research and data on two thousand companies and a hundred thirty industries you can access them bring intelligence there be I go in the terminal. and a whole suite thirty nine minutes past the hour and this is with. chosen men showed. answering questions from every six having you man just like in a running G. P. S. navigating us to. and. shuzhen man's always. it's a big sexy world Trojan condoms explore with confidence. I wrote this next song from Cheyenne should never have told her how progressives collision insurance covers injured dogs and cats she said of Baker left her pooch as much as she did so good I well I could this next song is called person you was over run. the cat. engine coming of coverage not available New Hampshire North Carolina thank thank you for this great honor as CEO of this company I couldn't be happier with our accomplishments this year we achieved double digit growth we lost key personnel this year but we didn't miss a step at this time I want to take a moment to thank one of our key partners serious executives when I first heard of Sirius I was a little skeptical what is an interim executive when they told me one executive at one day a week can help get us of double digit growth I was shocked I didn't even know that was possible and here we are twelve months later and Sirius will continue to be one of our key partners for years to come. because regardless of the problems that show up in our business they always have an executive solutions ready for us so serious thank you for a wonderful. higher."