Banner 3 Banner 2
Mergers and acquisitionsPress Release

PointsBet announces the sale of its US sports betting operation

According to reports, Moelis & Company, an investment firm, has been engaged by Australian online bookmaker PointsBet to look for potential purchasers for its North American sports betting operations.

In a sector that is now dominated by both DraftKings and FanDuel, the company has had difficulty growing its market share since its initial introduction in the United States.

PointsBet reported $120 million in revenue for the third and fourth quarters of 2022 in its most recent financial report. This was a 28% year-over-year rise. The company’s contract with NBCUniversal, which resulted in lower marketing expenses, was credited with favorable results. The business also disclosed that sports betting handled reached almost $1.1 billion in the first half of the fiscal year 2023.

The business is still ranked as the seventh-largest sports betting operator in the nation despite these encouraging outcomes.

Although Fanatics was purportedly interested in purchasing a stake in PointsBet more than a year ago, there are currently no signs of any potential bidders.

PointsBet recently dropped its application for a license to operate in the state of Massachusetts and is currently active in 14 states.

Read Also: Slotegrator Casinos Partners with Apollo Games

[email protected]

Subscribe to our channel on Telegram here for timely live updates on all happenings in the iGaming space in Africa. You may also join our group on Telegram here and grow your networks by interacting with all players in the iGaming sector in Africa

Jeremiah Maangi

A trusted igaming leader & author for articles bringing positive change in the African gambling industry. African gambling domains broker. Intelligent knowledge of customer acquisition and retention strategies. Available for new & existing gambling operations consulting and marketing services in Africa. Crypto enthusiast.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

You cannot copy content of this page