Saturday March 7,2015 : ONLINE GAMBLING A MISSED OPPORTUNITY
Toronto brokerage admits it lost out in not getting involved with online gambling groups.
With Canadian interest in online gambling high in the wake of the massive Amaya Gaming agreement to acquire the Rational Group last year, one stock broker missed the boat and admitted as much this week.
In a conference call Friday following stock broker GMP Capital’s fourth quarter results, CEO Harris Fricker was asked why his company was not involved in a sector which has seen a number of major deals, presenting opportunities for stock brokers with millions of dollars’ worth of investment banking and advisory revenue.
GMP rivals like Canaccord Genuity have profited handsomely from the burgeoning sector in recent years, the questioner pointed out.
“We simply missed it,” Fricker candidly if ruefully admitted.