RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:*Where should I buy back my US$tsgBarring a complete surprise, I don't think Kentucky will be material.
What is material is the hit they are going to take in Russia, as well as the possible hit they will take in Germany. If you read 888's financials the other day, they were very bearish about Germany, which is their largest market, and they said they may pull out of there this year.
Germany is a very big market for TSG, and to have issues in Germany and Russia at the same time is scary.
Every publicly traded gambling company is focusing on white markets because operating in gray markets is so uncertain. You're there one day and you're gone the next. Look at TSG - they pulled out of Australia, Colombia, and 28 other countries just in the last few years alone. Poland, another decent-sized market, is operating poorly due to payment restrictions banks placed last year.
Don't forget what happened to Party Poker when they withdrew from their biggest market (the US) a number of years ago - the stock dropped 60% in one day. I think it was worth around $12 billion then, and it never recovered.
I'm going to watch the Russia and Germany story carefully before deciding to commit any more capital to TSG.