PointsBet Archives

April 28, 2023

PointsBet confirms North American sales talks

Australian gaming operator PointsBet confirmed that the business is “currently in discussion with multiple parties” regarding the sale of its North American business.

The company also said that it has terminated previously reported talks to sell its Australian business to the News Corp-backed gaming venture behind the Betr brand. Despite this, PointsBet said it remains in discussion with “other third parties” who have expressed interest in acquiring the business.

“Consistent with commentary previously provided to our investors and the market more generally, PointsBet continues to engage in discussions regarding strategic transactions that offer the potential to add value for our shareholders,” said the company.

pointsbet also confirmed that it had terminated the talks to sell its Australian business to a news Corp-backed venture

Losses mount despite revenue growth

For the three-month period ending 31 March, the business recorded gross gaming revenue of AU$106.6m (£56.4m/€63.9m/US..

January 16, 2023

PointsBet opens new retail sportsbook in Illinois

Sports betting operator PointsBet has extended its reach in Illinois with the launch of a new retail sportsbook in the Villa Park area of Chicago.

Located inside the Crazy Pour Sports Bar at Club Hawthorne, the facility is PointsBet’s fourth retail location in the state and will be operated through its partnership with Hawthorne Race Course.

Customers can place cash wagers directly with cashiers at three betting windows or at eight self-service kiosks, while visitors will also have access to Crazy Pour’s full-service beverage and dining options.

Read the full story on iGB North America

January 3, 2023

PointsBet in talks to sell Australia arm to News Corp venture

PointsBet is in discussions to sell its Australian arm to NTD Limited, the News Corp-led business behind Australia’s Betr brand.

PointsBet revealed last week – following a report in The Australian – that it was in discussions to sell its Australian business to NTD Pty Limited.

NTD is a venture set up this year involving media conglomerate News Corp, investment fund Tekkorp Capital and long-time industry executive Matt Tripp and operates the Australia-facing Betr brand. Another operator named Betr launched in the US this year, but the two are unrelated.

PointsBet said “any potential transaction will be assessed in the context of PointsBet’s global strategy and opportunities”.

Murdoch family-owned News Corp are among the parties involved in Ntd Pty Limited

“Discussions between PointsBet and NTD are incomplete and preliminary in nature,” it said. “There is no certainty that these discussions will result in any binding transaction.

“PointsBet will keep the market updated in accordan..

November 23, 2022

Maryland’s regulated sports betting market officially opens

Maryland’s online sports betting market is officially live, with seven operators now active in the state as of today (23 November).

Barstool, BetRivers, BetMGM, Caesars, DraftKings, FanDuel and PointsBet can now accept wagers in the state.

Caesars and DraftKings launched before the regulated market officially opened, in preparation for the imminent commencement.

Read the full story on iGB North America

October 25, 2022

Turnover up but gross win down for PointsBet in Q1 2023

PointsBet’s turnover in the first quarter of 2023 rose by 18.0% year-on-year to AU$1.15bn (£1.02bn/€1.17bn), yet its gross win was down by AUS$2.0m.

The results came as the business also revealed a change in US strategy to focus less on casual customers and more on high-volume bettors.

In total, AU$523.8m of the turnover came from US operations. Australia made up AU$611.9m of the turnover, while Canada contributed AU$20.9m.

Gross win, meanwhile, was AU$115.1m, down by 1.7% from AU$117.1m in Q1 2022.

Gross win in the US was AU$40.5m, while in Australia it was AU$73.0m. Canada contributed AU$1.6m to the gross win, after PointsBet launched in Ontario in April of this year.

The total revenue for the quarter – made up of B2B and B2C operations – was AUS$81.5m.

In terms of costs, advertising and marketing made up the highest expense at AUS$54.7m.

However, Aitken said that PointsBet had reduced marketing spend significantly in the first quarter.

“This year we took a measured approach ..

October 6, 2022

PointsBet pens horse racing betting deal with 1/ST Technology

Online gambling operator PointsBet Holdings has entered into a betting partnership with the 1/ST Technology division of North American thoroughbred horse racing business Stronach Group.

Under the five-year master services agreement, agreed through PointsBet’s Premier Turf Club subsidiary, 1/ST Technology will provide horse racing betting products and content solutions for full integration within the PointsBet sportsbook app.

The partnership will also deliver a PointsBet-branded stand-alone advance deposit wagering (ADW) offering in eligible states outside those in which PointsBet currently offers sports betting.

Using Premier Turf Club’s licences, PointsBet will own and operate the ADW business and retain ownership of customer data.

Racing customers of 1/ST Technology’s Xpressbet and 1/ST Bet brands will be introduced to sports betting and igaming via PointsBet products through the marketing partnership.

It is anticipated that the PointsBet-branded ADW solution will launch in earl..

September 23, 2022

PointsBet launches in Louisiana with Penn National Gaming

Online gambling operator PointsBet Holdings has launched online sports betting in the US state of Louisiana via its partnership with Penn National Gaming (PNG).

PointsBet’s online sportsbook is now active in the state and taking bets after the operator secured approval from the Louisiana Gaming Control Board.

The roll-out marks the fourth state launch under the partnership with PNG, which was announced in August 2019 and extended in March 2021 to include Pennsylvania and Mississippi.

The launch represents PointsBet’s 12th online sportsbook operation in total in the US, with the operator also active in New Jersey, Iowa, Indiana, Illinois, Colorado, Michigan, West Virginia, Virginia, New York, Pennsylvania and Kansas.

“The PointsBet team is excited to share that we are now officially live in the pelican state and that Louisiana is our 12th state of online operations,” PointsBet US chief executive Johnny Aitken said.

“The sports community of Louisiana, one that our very own brand amb..

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Tag: PointsBet