PointsBet will consolidate its expertise and product offering in the US horseracing industry through the acquisition of Premier Turf Club.
Premier Turf Club Joins PointsBet to Boost Horseracing Offer
PointsBet has dropped a big piece of news late on Monday evening, announcing the acquisition of Premier Turf Club, an advance deposit wagering (ADW) company that holds a license by the Oregon Racing Commission. The acquisition will facilitate the company’s further expansion across the online horseracing market in the United States, as the company is also bringing its unique sports betting product to the front line amid strong financial performance results.
Commenting on the acquisition, PointsBet USA CEO Johnny Aitken said that the company was thrilled to be joining forces with Premier Turf Club. PointsBet’s own expertise in running Australian horseracing markets along with PTC’s familiarity with the local industry puts the company in a very good position in relation to the US horseracing segment, Aitken explained and added:
“Today’s noteworthy acquisition complements our in-house approach while growing our premier product suite, and we are excited to welcome Premier Turf Club to the PointsBet team.”PointsBet USA CEO Johnny Aitken
PointsBet will make sure to retain the talent behind Premier Turf Club, which currently operates BetPTC.com, known as “Racing’s Best Kept Secret.” The company has been in business for 13 years and has been largely successful under the skilled leadership of its general manager Todd Bowker who will now be joining PointsBet USA as VP of racing.
Bowker himself is a well-seasoned veteran who has worked at AmericaTab Ltd, where he helped transform the company into the fourth-largest ADW firm in Oregon. PointsBet is retaining the rank-and-file staff members from Premier Turf Club, making sure that the company’s expertise is retained in full by bringing the team over.
Horseracing in the United States Is an Important Market
Bowker himself was excited at the news of Premier Turf Club joining the PointsBet family, arguing that the company “was exploring options for how we might enter the sports betting market, we realized early on that we wanted to partner with a highly regarded and experienced operator.”
He similarly pointed out to PointsBet’s existing track record with Australian racing, which made the company an ideal pick for PTC. Already, Premier Turf Club has vital assets that dovetail nicely with what PointsBet has to bring, including industry expertise and relationships, paired with a customer-focused approach.
Both companies are convinced that horseracing is a complementary product to sports betting and one that must be pursued actively as part of the regulated gambling market. Presently, horseracing generates $12 billion in total betting handle annually, and almost half of that amount is wagered through ADW solutions across 38 states.
PointsBet doesn’t just want to claim a share of the market. It wants to actively seek and innovate it, creating fresh opportunities for its own product line as well as pushing the fixed odds sportsbook offer, which is an amazing piece of innovation whereby the company is so convinced in guessing the outcome of the race correctly that it can offer fixed odds.
In the meantime, PointsBet launched an online casino in Michigan earlier this month, making a quick entry into the Great Lakes State’s iGaming vertical.