- Casino
- By State
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Georgia
- Florida
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Massachusetts
- Maryland
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
- By State
- Slots
- Poker
- Sports
- Esports
PointsBet on Its Way Out of North America
As the United States marches forward with expanding its sports betting industry, not all operators are finding it easy to stick around
PointsBet has confirmed that it is planning to sell its US and North American operations in general, as the Australian gaming operator has released a statement detailing the matter. The statement confirms that a potential sale is currently being discussed with numerous undisclosed parties.
PointsBet Confirms Intent to Sell North American Business
The company is also planning to sell its Australian business, with one of the possible buyers Betr, a News Corp-backed company, which has shown interest but has been received tepidly by PointsBet it seems.
Media outlets broke the story about the potential Betr buy-out in Australia on December 27, 2022, and the company has felt the need to put an end to the speculation in its latest update. To sum up, Australian assets may be sold, but Betr is an unlikely buyer.
To help flesh out the story, PointsBet has issued a full statement regarding its North American business first. The statement read:
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.
pointsbet
The statement also explained that certain negotiations have been well advanced already, which means that the business is closer to a sale than previously expected. However, PointsBet stated that none of the discussions is actually going to necessarily result in a binding transaction.
Third Quarter Results Show Improvement in Sports Betting Net Wins
PointsBet will also continue to keep the market informed about relevant developments as per compliance with disclosure obligations. The company also used the statement to outline its results for the Financial Year 2023 and its third quarter ended on March 31, 2023.
The company remarked on several developments, including Q3 sports betting turnover and handle reaching AU1.44 billion ($950 million) during the quarter. The gross win margin for the three-month period was posted at 9%.
Gross win from sports betting stood at AU$130.3 million ($85.82 million). Net win from sports betting was posted at AU$91.2 million ($60.07 million). Both results were much better than the Q3 results in Financial Year 2022. Meanwhile, iGaming net win stood at AU$15.4 million ($10.14 million).
The company also confirmed that it had cut 12% of its workforce in North America, leading to approximate cost savings of AU$6 million ($3.95 million).”
Related Topics:
Although Fiona doesn't have a long-spanning background within the gambling industry, she is an incredibly skilled journalist who has built a strong interest in the constantly growing iGaming network. The team at GamblingNews.com is glad to have her on our roster to help deliver the best stories as soon as they hit. Aside from writing, she loves to dabble in online casino games such as slots and roulette, both for her own enjoyment and also as research to better improve her understanding of the industry.
Must Read
Business
November 1, 2024
Sky Bet Discontinues #RequestABet Service
Business
November 4, 2024
Bally’s Unloading Asia Digital Gaming Division
More Articles
Sports
November 8, 2024
WWE to Pass Up on Turning Fights into Betting Markets
Sports
November 8, 2024
Streamer’s Chummy Bet on Trump Pays Off $660,000
Industry
November 8, 2024
Illegal Gambling in Weslaco, Texas Lands Three in Jail
Industry
November 8, 2024
Kamala Harris Presidential Bid Costs $1.37B on Ads Alone
Casino
November 8, 2024
Denver Car Thief Is Suing Former Police Officer Who Tased Him
Industry
November 8, 2024
NCPG Supports Eight Groups to Prevent Problem Gambling
Poker
November 7, 2024
BetMGM Poker Innovates with Shared Liquidity Between NJ and MI
Sports
November 7, 2024
Gambling Tax Plans Lead to Cancellations of Horse Races in France
Industry
November 7, 2024
US Ambassador Criticizes Hungary PM Orbán for Supporting Trump
Sports
November 7, 2024
Bookmakers List US Presidential Betting Odds for 2028
Esports
November 7, 2024
Hard Rock Bet Expands Esports Offer in Florida