1 00:00:03,440 --> 00:00:06,560 Sean Aylmer: Welcome to the Fear and Greed Daily Interview. I'm Sean Aylmer. 2 00:00:06,950 --> 00:00:09,760 Sean Aylmer: There are few moments as significant for a company as 3 00:00:09,760 --> 00:00:12,580 Sean Aylmer: their IPO, when they first list on the stock market. 4 00:00:12,850 --> 00:00:15,610 Sean Aylmer: It takes months or years of work preparing the company 5 00:00:15,610 --> 00:00:18,410 Sean Aylmer: and rallying investors, so I could only imagine how it 6 00:00:18,410 --> 00:00:21,279 Sean Aylmer: would feel for a founder to see their business finally 7 00:00:21,280 --> 00:00:24,569 Sean Aylmer: hit the bourse. Today is the day for Racing and Sports: 8 00:00:24,570 --> 00:00:27,610 Sean Aylmer: a Canberra- based family- run company listing on the ASX. 9 00:00:27,930 --> 00:00:33,120 Sean Aylmer: Racing and Sports provides data to betting operators like Tabcorp, Sportsbet, 10 00:00:33,120 --> 00:00:36,409 Sean Aylmer: and Ladbrokes, with its attention firmly focused on the US 11 00:00:36,409 --> 00:00:39,809 Sean Aylmer: after fixed- odds betting was made legal. The listing has 12 00:00:39,810 --> 00:00:43,360 Sean Aylmer: also grabbed the attention of UK giant, Entain. Stephen Crispe 13 00:00:43,440 --> 00:00:45,650 Sean Aylmer: is the Chief Executive of Racing and Sports and my 14 00:00:45,650 --> 00:00:48,930 Sean Aylmer: guest this morning. Stephen, welcome to Fear and Greed and congratulations. 15 00:00:49,180 --> 00:00:49,860 Stephen Crispe: Thanks very much, Sean. 16 00:00:50,450 --> 00:00:51,600 Sean Aylmer: How's it feel to be listing? 17 00:00:52,479 --> 00:00:56,530 Stephen Crispe: Look, it's an amazing achievement for the business, which started 18 00:00:56,530 --> 00:00:59,060 Stephen Crispe: as a small family business in the back of a 19 00:00:59,060 --> 00:01:02,290 Stephen Crispe: garage over 20 years ago to where we are today. 20 00:01:02,540 --> 00:01:04,560 Stephen Crispe: It's been an amazing journey for the business and a 21 00:01:04,560 --> 00:01:07,529 Stephen Crispe: lot of evolutions, a lot of creation, a lot of innovation, 22 00:01:07,930 --> 00:01:11,209 Stephen Crispe: a lot of firsts in the industry. So, to undergo 23 00:01:11,310 --> 00:01:14,090 Stephen Crispe: this IPO process is really the culmination of 20 years 24 00:01:14,360 --> 00:01:17,360 Stephen Crispe: of that innovation and hard work, particularly the last 12 months, 25 00:01:17,360 --> 00:01:20,060 Stephen Crispe: as you'd expect, has been particularly gruelling in terms of 26 00:01:20,060 --> 00:01:23,200 Stephen Crispe: getting the business ready for IPO. However, the process is 27 00:01:23,200 --> 00:01:25,880 Stephen Crispe: now complete and we're well on our way for that date. 28 00:01:26,940 --> 00:01:29,429 Sean Aylmer: So, the question is, why are you doing it? 29 00:01:30,120 --> 00:01:33,569 Stephen Crispe: So Racing and Sports has reached a natural evolutionary growth 30 00:01:33,569 --> 00:01:37,500 Stephen Crispe: point where we are now expanded into the UK and Europe. Also, 31 00:01:37,500 --> 00:01:40,580 Stephen Crispe: looking to the US for additional growth and access to 32 00:01:40,580 --> 00:01:43,140 Stephen Crispe: capital markets gives us the ability to grow and scale at a 33 00:01:43,140 --> 00:01:46,330 Stephen Crispe: much faster rate into those geographic regions, as well as 34 00:01:46,330 --> 00:01:47,810 Stephen Crispe: create and develop our products further. 35 00:01:49,430 --> 00:01:52,380 Sean Aylmer: So capital that'll provide you with the opportunity to grow 36 00:01:52,380 --> 00:01:55,520 Sean Aylmer: more. Just take me through exactly what Racing and Sports 37 00:01:55,520 --> 00:01:58,690 Sean Aylmer: does, but do it for me. I'm no expert in 38 00:01:58,690 --> 00:01:59,250 Sean Aylmer: this area. 39 00:01:59,870 --> 00:01:59,960 Stephen Crispe: Absolutely. 40 00:02:00,720 --> 00:02:01,730 Sean Aylmer: So, give me the 101. 41 00:02:02,190 --> 00:02:04,840 Stephen Crispe: Yeah, that's fine. So Racing and Sports has five key 42 00:02:04,840 --> 00:02:08,680 Stephen Crispe: business lines, but really core to our DNA is data 43 00:02:08,680 --> 00:02:11,240 Stephen Crispe: and content. Racing and Sports has been doing this for 44 00:02:11,240 --> 00:02:14,570 Stephen Crispe: the full 20 years it's been around with experts in 45 00:02:14,570 --> 00:02:19,119 Stephen Crispe: getting raw data and actually enhancing that into premium data, knowledge- 46 00:02:19,120 --> 00:02:24,080 Stephen Crispe: based products and enhanced content that's supplied to our wagering operating customers. 47 00:02:24,380 --> 00:02:26,960 Stephen Crispe: So if you're a Ladbrokes, for example, and you're one 48 00:02:26,960 --> 00:02:30,260 Stephen Crispe: of our customers, we would provide you with everything from five- 49 00:02:30,260 --> 00:02:34,220 Stephen Crispe: star form tips, race summaries, and race views. So, essentially, 50 00:02:34,480 --> 00:02:36,829 Stephen Crispe: predicting how a race is going to be run, and 51 00:02:36,830 --> 00:02:38,880 Stephen Crispe: also predicting how a horse is going to run in 52 00:02:38,880 --> 00:02:42,180 Stephen Crispe: that race compared to the other horses, and this is all automated. 53 00:02:42,260 --> 00:02:45,930 Stephen Crispe: So it's all computer- generated comment and content and data. 54 00:02:46,560 --> 00:02:48,940 Stephen Crispe: This is through frameworks that we've developed over the last 55 00:02:48,950 --> 00:02:51,500 Stephen Crispe: 20 years as well. A lot of intellectual property has been 56 00:02:51,500 --> 00:02:54,010 Stephen Crispe: built up in that time to produce that content in the same 57 00:02:54,550 --> 00:02:58,130 Stephen Crispe: consistent high quality manner that our customers expect. We also 58 00:02:58,130 --> 00:03:01,040 Stephen Crispe: have a wagering technology side of the business as well, 59 00:03:01,040 --> 00:03:02,760 Stephen Crispe: which has only been around for a couple of years, 60 00:03:03,080 --> 00:03:05,769 Stephen Crispe: and that's getting a lot of traction here in Australia, 61 00:03:05,830 --> 00:03:08,590 Stephen Crispe: as well as overseas. So a really exciting time for the company. 62 00:03:09,710 --> 00:03:13,109 Sean Aylmer: So, those form guides that many of us read, they're 63 00:03:13,110 --> 00:03:14,510 Sean Aylmer: actually computer- generated, are they? 64 00:03:14,880 --> 00:03:18,000 Stephen Crispe: That's right. The content goes into the database on a 65 00:03:18,000 --> 00:03:21,820 Stephen Crispe: daily basis and there's a large processing machine, I guess you'd 66 00:03:21,820 --> 00:03:25,049 Stephen Crispe: call it, which is sent across the cloud and several 67 00:03:25,200 --> 00:03:28,589 Stephen Crispe: different data centres where it actually processes all this information to 68 00:03:28,590 --> 00:03:31,770 Stephen Crispe: produce the high quality information that's sent out to our customers. 69 00:03:32,410 --> 00:03:36,060 Stephen Crispe: The automation provides consistency, but it also provides efficiency and 70 00:03:36,060 --> 00:03:36,970 Stephen Crispe: cost savings for our clients. 71 00:03:38,530 --> 00:03:40,070 Sean Aylmer: And so what I find interesting with a lot of 72 00:03:40,070 --> 00:03:44,420 Sean Aylmer: those gaming organisations, increasingly, over the last couple of years, 73 00:03:44,420 --> 00:03:47,480 Sean Aylmer: they have really pushed the value add. So it's not 74 00:03:47,480 --> 00:03:51,400 Sean Aylmer: just about putting $ 2 or $ 20 or $ 200 on a horse; 75 00:03:51,640 --> 00:03:53,740 Sean Aylmer: it's actually about the form guides and all the other 76 00:03:53,740 --> 00:03:58,610 Sean Aylmer: things that comes with it. And so, that backend stuff is 77 00:03:58,660 --> 00:04:02,300 Sean Aylmer: where some of these providers actually rely on Racing and 78 00:04:02,300 --> 00:04:03,210 Sean Aylmer: Sports to provide. 79 00:04:03,530 --> 00:04:07,070 Stephen Crispe: That's right. There's a real drive for high quality information 80 00:04:07,070 --> 00:04:10,160 Stephen Crispe: because it's been shown that the quality of the information 81 00:04:10,230 --> 00:04:13,250 Stephen Crispe: that a participant or a punter has, the more likely 82 00:04:13,250 --> 00:04:17,300 Stephen Crispe: they are to actually participate on a betting event. So, 83 00:04:17,390 --> 00:04:19,550 Stephen Crispe: it's been very clear to us that our customers get very 84 00:04:19,550 --> 00:04:21,670 Stephen Crispe: used to the type of information that Racing and Sports 85 00:04:21,670 --> 00:04:25,380 Stephen Crispe: provides. They're highly reliant upon it and we're obviously highly 86 00:04:25,380 --> 00:04:28,409 Stephen Crispe: invested in producing that information, that content, to the highest 87 00:04:28,410 --> 00:04:32,070 Stephen Crispe: standard and continuing to innovate and to attract new demographics, 88 00:04:32,070 --> 00:04:35,070 Stephen Crispe: new audiences, for our wagering operator customers. 89 00:04:35,600 --> 00:04:38,330 Sean Aylmer: So effectively, you're a data company as much as anything else. 90 00:04:38,390 --> 00:04:42,330 Sean Aylmer: How do you manage all that information? I still find 91 00:04:42,330 --> 00:04:46,900 Sean Aylmer: it quite remarkable that an organisation like yours and others 92 00:04:47,070 --> 00:04:50,760 Sean Aylmer: can take so much data and somehow create a dashboard 93 00:04:50,760 --> 00:04:54,110 Sean Aylmer: out of it, or something that's comprehensible, to someone like me. 94 00:04:55,610 --> 00:04:58,089 Stephen Crispe: Look, Sean, it's a very difficult process and, as you 95 00:04:58,089 --> 00:05:01,099 Stephen Crispe: know, data is quite variable even in the best of cases. 96 00:05:01,430 --> 00:05:03,210 Stephen Crispe: And in some cases, when we deal with the data, it 97 00:05:03,339 --> 00:05:07,200 Stephen Crispe: actually comes to us incomplete. Look, fortunately, Racing and Sports 98 00:05:07,300 --> 00:05:10,419 Stephen Crispe: has invested heavily over the past 20 years, and particularly 99 00:05:10,420 --> 00:05:12,390 Stephen Crispe: in the last six to seven years, in creating and 100 00:05:12,390 --> 00:05:16,180 Stephen Crispe: developing that scalable processing framework that allows us to process 101 00:05:16,180 --> 00:05:20,210 Stephen Crispe: the raw data in a consistent and high quality manner to create those 102 00:05:20,210 --> 00:05:22,560 Stephen Crispe: information and knowledge products. We also have a skilled team 103 00:05:22,560 --> 00:05:24,580 Stephen Crispe: who work out of Sri Lanka who actually curate the 104 00:05:24,580 --> 00:05:28,300 Stephen Crispe: data and rectify any incomplete data sets as well. So 105 00:05:28,300 --> 00:05:32,229 Stephen Crispe: it is quite a laborious process, but we've got it streamlined to within an 106 00:05:32,230 --> 00:05:34,440 Stephen Crispe: inch of its life, so to speak. I think that's 107 00:05:34,440 --> 00:05:37,070 Stephen Crispe: really what enables us to scale the business in the 108 00:05:37,070 --> 00:05:37,611 Stephen Crispe: data space. 109 00:05:37,611 --> 00:05:40,040 Sean Aylmer: At the risk of flogging a dead horse, and that 110 00:05:40,040 --> 00:05:43,440 Sean Aylmer: was a deliberate pun there Stephen, where does it actually come 111 00:05:43,440 --> 00:05:46,580 Sean Aylmer: from though? So how the horse has run the last three times, 112 00:05:46,580 --> 00:05:50,320 Sean Aylmer: there's a little line about up in class, look, prefer otherwise. 113 00:05:50,920 --> 00:05:54,390 Sean Aylmer: Where does the actual primary source material come from? 114 00:05:54,390 --> 00:05:58,360 Stephen Crispe: A really good question. So, a lot of that's actually built up through our 115 00:05:58,360 --> 00:06:01,570 Stephen Crispe: artificial intelligence framework that actually writes those comments, so they're 116 00:06:01,570 --> 00:06:04,750 Stephen Crispe: all automatically written by a computer and in... or 9. 9 117 00:06:04,750 --> 00:06:06,830 Stephen Crispe: out of 10 cases, you wouldn't be able to pick 118 00:06:06,830 --> 00:06:10,190 Stephen Crispe: that it's actually read... been written, rather, from a computer 119 00:06:10,190 --> 00:06:12,820 Stephen Crispe: as opposed to a person. So the quality of our 120 00:06:12,820 --> 00:06:14,810 Stephen Crispe: comments has gotten so good now where we've taught the 121 00:06:14,810 --> 00:06:18,799 Stephen Crispe: machine all those different phrases and terms and expressions have 122 00:06:19,060 --> 00:06:22,210 Stephen Crispe: been computerised and automated into the framework. So, they're all 123 00:06:22,210 --> 00:06:25,429 Stephen Crispe: produced based on human input, so a human's actually written 124 00:06:25,430 --> 00:06:28,100 Stephen Crispe: them once or twice. And then, the rules set in 125 00:06:28,100 --> 00:06:31,130 Stephen Crispe: the algorithms essentially knows how to use those. When it 126 00:06:31,130 --> 00:06:33,820 Stephen Crispe: looks at the data for a horse's previous runs, it 127 00:06:33,820 --> 00:06:36,599 Stephen Crispe: knows what comments to actually piece together to actually write 128 00:06:36,680 --> 00:06:37,070 Stephen Crispe: that comment. 129 00:06:37,440 --> 00:06:39,440 Sean Aylmer: Stay with me, Stephen. We'll be back in a minute. 130 00:06:44,430 --> 00:06:47,420 Sean Aylmer: My guest today is Stephen Crispe, the Chief Executive of 131 00:06:47,420 --> 00:06:50,960 Sean Aylmer: Racing and Sports. It sounds to me like another competitive 132 00:06:51,210 --> 00:06:54,390 Sean Aylmer: advantage you have is actually 20 years of investing in 133 00:06:54,540 --> 00:07:00,020 Sean Aylmer: automation and technology around pulling disparate data from around the 134 00:07:00,020 --> 00:07:04,210 Sean Aylmer: world into one cohesive group and, of course, the business 135 00:07:04,210 --> 00:07:06,060 Sean Aylmer: in Sri Lanka must be part of that too. 136 00:07:06,740 --> 00:07:09,730 Stephen Crispe: Absolutely. Racing and Sports has been at the forefront of 137 00:07:10,100 --> 00:07:14,290 Stephen Crispe: data collection and curation and product development on the back 138 00:07:14,290 --> 00:07:16,000 Stephen Crispe: of that as well. And look, the Sri Lankan team 139 00:07:16,000 --> 00:07:18,280 Stephen Crispe: have been essential to that in terms of just finding 140 00:07:18,280 --> 00:07:21,280 Stephen Crispe: good skilled labour who are also working in a geographic 141 00:07:21,280 --> 00:07:24,530 Stephen Crispe: region that's central to all of our clients around the world. So 142 00:07:24,530 --> 00:07:26,920 Stephen Crispe: it does work very well for us. We have a highly 143 00:07:26,920 --> 00:07:29,330 Stephen Crispe: loyal Sri Lankan team. A lot of them have been 144 00:07:29,330 --> 00:07:31,930 Stephen Crispe: with us for the whole time the company's existed over there 145 00:07:31,930 --> 00:07:32,551 Stephen Crispe: in Sri Lanka as well. 146 00:07:32,551 --> 00:07:32,790 Sean Aylmer: Nice. 147 00:07:32,790 --> 00:07:35,210 Stephen Crispe: So it's a really good workforce. 148 00:07:36,090 --> 00:07:38,180 Sean Aylmer: Now I mentioned the US. A number of corporate bookmakers 149 00:07:38,180 --> 00:07:40,940 Sean Aylmer: from Australia are really pushing it into the US and 150 00:07:41,010 --> 00:07:45,410 Sean Aylmer: have done well in picking up state licenses. That's as 151 00:07:45,410 --> 00:07:48,680 Sean Aylmer: a result of changes to gambling laws. What were the 152 00:07:48,680 --> 00:07:50,840 Sean Aylmer: changes to gambling laws first? But then, how big an 153 00:07:50,840 --> 00:07:53,770 Sean Aylmer: opportunity is it and where does Racing and Sports fit 154 00:07:53,770 --> 00:07:54,150 Sean Aylmer: into it? 155 00:07:55,670 --> 00:07:58,600 Stephen Crispe: The US is coming of age is probably the best way to 156 00:07:58,600 --> 00:08:01,930 Stephen Crispe: describe it. They have parimutuel betting, which is the same as what the 157 00:08:01,930 --> 00:08:04,040 Stephen Crispe: TAB offers here in Australia. However, they only just recently 158 00:08:04,800 --> 00:08:08,060 Stephen Crispe: have legalised for the fixed-odds betting on horse racing, which 159 00:08:08,060 --> 00:08:10,900 Stephen Crispe: is obviously a new product for the US market and 160 00:08:10,900 --> 00:08:13,970 Stephen Crispe: the US market, in that regard, is potentially massive. It's 161 00:08:13,970 --> 00:08:17,520 Stephen Crispe: a relatively immature market as it stands today in comparison to, 162 00:08:17,520 --> 00:08:19,970 Stephen Crispe: say Australia and even the UK, which we're a little bit further 163 00:08:19,970 --> 00:08:25,210 Stephen Crispe: ahead in our journeys and rationalisation. So, Racing and Sports 164 00:08:25,330 --> 00:08:27,440 Stephen Crispe: is obviously looking at the US like everybody else. We're 165 00:08:27,440 --> 00:08:32,100 Stephen Crispe: actually already providing US content into Australia and New Zealand, 166 00:08:32,200 --> 00:08:34,870 Stephen Crispe: and we're also providing into the UK and Europe. So 167 00:08:34,870 --> 00:08:38,050 Stephen Crispe: we're actually already covering the majority of US racing as 168 00:08:38,050 --> 00:08:41,100 Stephen Crispe: an export product from the US on behalf of one 169 00:08:41,100 --> 00:08:43,930 Stephen Crispe: of the rights holders in the US. That will also 170 00:08:44,010 --> 00:08:46,790 Stephen Crispe: enable us to be in good standing when the US 171 00:08:46,790 --> 00:08:50,459 Stephen Crispe: market does come online en masse. I think New Jersey's 172 00:08:50,460 --> 00:08:53,630 Stephen Crispe: the only state in the US that's actually legalised fixed-odds betting 173 00:08:53,630 --> 00:08:56,229 Stephen Crispe: to date, but there are a couple of others that are in progress, 174 00:08:56,330 --> 00:08:57,160 Stephen Crispe: from what I understand. 175 00:08:57,610 --> 00:09:00,390 Sean Aylmer: But presumably, over the next 5 to 10 years, it'll 176 00:09:00,630 --> 00:09:04,450 Sean Aylmer: be 20 or 30 states in the US will allow fixed- odds 177 00:09:04,450 --> 00:09:07,800 Sean Aylmer: betting and fixed- odds is the important phrase there. That 178 00:09:07,800 --> 00:09:09,850 Sean Aylmer: must be a big opportunity for you guys if you 179 00:09:09,850 --> 00:09:12,840 Sean Aylmer: have the technology already to provide the data. 180 00:09:13,290 --> 00:09:16,770 Stephen Crispe: Absolutely. We've already invested heavily in the US and we've 181 00:09:16,770 --> 00:09:19,230 Stephen Crispe: been working with the US for quite some time in 182 00:09:19,230 --> 00:09:21,689 Stephen Crispe: terms of creating products for the US market to bet 183 00:09:21,690 --> 00:09:26,100 Stephen Crispe: on international racing, so such as US- centric form guides 184 00:09:26,100 --> 00:09:30,610 Stephen Crispe: and content for the US punter to punt on Australian racing. 185 00:09:30,880 --> 00:09:34,120 Stephen Crispe: So as far as it goes, Racing and Sports is highly knowledgeable about 186 00:09:34,120 --> 00:09:38,300 Stephen Crispe: US racing and the US product as well, so we're 187 00:09:38,440 --> 00:09:40,760 Stephen Crispe: really excited about what the US holds. And as different 188 00:09:40,760 --> 00:09:44,470 Stephen Crispe: states start to legislate for fixed- odds betting, Racing and Sports will be 189 00:09:44,470 --> 00:09:47,360 Stephen Crispe: there to support the wagering operators who require high quality 190 00:09:47,360 --> 00:09:50,929 Stephen Crispe: information and content, as well as technology- based products and 191 00:09:50,929 --> 00:09:52,190 Stephen Crispe: digital and media services. 192 00:09:52,580 --> 00:09:57,120 Sean Aylmer: Maybe it's the ubiquity of the gaming operators at the moment, 193 00:09:57,120 --> 00:09:59,179 Sean Aylmer: but it just seems to be a pretty... I don't know. 194 00:09:59,179 --> 00:10:03,110 Sean Aylmer: It's quite a golden period for betting, but a very 195 00:10:03,110 --> 00:10:05,640 Sean Aylmer: strong period for betting, and that means it's a good 196 00:10:05,870 --> 00:10:09,870 Sean Aylmer: period for an organisation like Racing and Sports. Maybe it's 197 00:10:09,870 --> 00:10:12,150 Sean Aylmer: a COVID effect. I don't know. Am I reading that wrong? 198 00:10:12,150 --> 00:10:14,470 Sean Aylmer: It just seems to be everywhere at the moment. 199 00:10:14,850 --> 00:10:17,020 Stephen Crispe: Yeah. Look, the last few years of been particularly strong, 200 00:10:17,020 --> 00:10:20,020 Stephen Crispe: but COVID certainly has had an effect to the positive. 201 00:10:20,750 --> 00:10:23,910 Stephen Crispe: It's obviously brought a lot of activities onto a digital 202 00:10:23,910 --> 00:10:27,650 Stephen Crispe: platform or online. We've seen things like online shopping, the 203 00:10:27,650 --> 00:10:30,990 Stephen Crispe: rise of online deliveries for food. They're just some examples 204 00:10:30,990 --> 00:10:32,820 Stephen Crispe: of the real push that COVID's had and I think 205 00:10:32,820 --> 00:10:35,540 Stephen Crispe: wagering's exactly the same. In the UK, for example, where you 206 00:10:35,540 --> 00:10:38,350 Stephen Crispe: have a lot of high street betting shops, they were in 207 00:10:38,350 --> 00:10:41,500 Stephen Crispe: a decline before COVID and I think during COVID that 208 00:10:41,500 --> 00:10:45,530 Stephen Crispe: that's obviously accelerated, but those punters still looking to participate 209 00:10:45,580 --> 00:10:48,580 Stephen Crispe: are actually now pushed online to open accounts with wagering 210 00:10:48,580 --> 00:10:51,679 Stephen Crispe: operators. They're all looking for high quality information and content 211 00:10:51,750 --> 00:10:53,339 Stephen Crispe: that they can consume and punt. 212 00:10:54,460 --> 00:10:57,010 Sean Aylmer: So, what's the next few years hold for Racing and 213 00:10:57,010 --> 00:10:58,950 Sean Aylmer: Sports? Where do you think you'll be five years' time? 214 00:10:59,590 --> 00:11:03,590 Stephen Crispe: Look, good question. We're definitely pushing with the international expansion 215 00:11:03,640 --> 00:11:05,740 Stephen Crispe: into the UK and Europe further, so we have ambitions 216 00:11:05,740 --> 00:11:08,109 Stephen Crispe: to build a team on the ground in the UK. 217 00:11:08,150 --> 00:11:11,070 Stephen Crispe: We've incorporated a Racing and Sports entity into the UK 218 00:11:11,070 --> 00:11:13,620 Stephen Crispe: as well, which is exciting and also the US. As 219 00:11:13,620 --> 00:11:16,470 Stephen Crispe: we said, we're positioning for that now with domestic growth 220 00:11:16,850 --> 00:11:21,950 Stephen Crispe: as the states legislate for fixed-odds, and that's really the growth 221 00:11:21,950 --> 00:11:26,679 Stephen Crispe: story. Also, our product development in the wagering technology space, 222 00:11:26,950 --> 00:11:30,590 Stephen Crispe: and also continuing to innovate around our data and content 223 00:11:30,590 --> 00:11:33,790 Stephen Crispe: space as well. So, really sticking to our roots, sticking 224 00:11:33,790 --> 00:11:35,940 Stephen Crispe: to our knitting, so to speak, and making sure we 225 00:11:35,940 --> 00:11:37,870 Stephen Crispe: do what we do, but we do it the best 226 00:11:37,950 --> 00:11:39,880 Stephen Crispe: of anybody in the world and we believe we are. 227 00:11:40,309 --> 00:11:42,160 Sean Aylmer: Stephen, thank you for talking to Fear and Greed. 228 00:11:42,380 --> 00:11:43,460 Stephen Crispe: Thanks very much, Sean. I appreciate your time. 229 00:11:44,050 --> 00:11:47,940 Sean Aylmer: That was Stephen Crispe, Chief Executive of Racing and Sports, which 230 00:11:47,940 --> 00:11:50,770 Sean Aylmer: lists today. This is the Fear and Greed Daily Interview. 231 00:11:50,770 --> 00:11:53,000 Sean Aylmer: Join me every morning for the full Fear and Greed 232 00:11:53,000 --> 00:11:55,300 Sean Aylmer: podcast with all the business news you need to know. 233 00:11:55,570 --> 00:11:57,000 Sean Aylmer: I'm Sean Aylmer. Enjoy your day.