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Legal
September 21, 2023
PointsBet Hit with Fine in New Jersey over Betting Breaches
Gambling regulators across the United States constantly monitor their respective markets, ensuring that licensed casinos, online gambling and betting operators adhere to the established regulations. Whenever breaches are uncovered, usually, a fine may be imposed. However, in more severe cases, gambling regulators can also consider license revocation. One sports betting operator that was recently impacted […]
Business
August 29, 2023
PointsBet to Return Millions to Shareholders Following the Sale of Its US Arm
PointsBet will return millions to its shareholders following the sale of its US business to Fanatics Betting and Gaming. This was confirmed during the company’s latest extraordinary general meeting. PointsBet agreed to divest its US assets on June 30, selling its American operations of $225 million. The transaction is intended to take place over a […]
Sports
August 7, 2023
Fanatics Sportsbook Advances Toward New York License via PointsBet Deal
Fanatics Sportsbook has inched closer to obtaining a coveted sports betting license in the state of New York. The ambitious move comes after Fanatics acquired the US assets of PointsBet, a development that has piqued the interest of regulators and industry observers alike. NYSGC’s Meeting Unveils Fanatics’ PointsBet Acquisition Impact and Scrutiny The New York […]
Business
July 28, 2023
PointsBet Reports Impressive FY 2023 Financials
PointsBet’s sale of its US arm to Fanatics in the final quarter of the fiscal year represented one of the primary drivers behind its stellar performance, allowing the company to focus on its other lucrative markets while unlocking significant value through the sale. Despite the tense acquisition process, the Australian operator emerged stronger than ever, […]
Business
June 30, 2023
PointsBet’s Shareholders Vote in Favor of US Assets Sale
PointsBet announced that an overwhelming majority of its shareholders supported the sale of its US-facing business to the well-known sports merchandise company, Fanatics. Fanatics Betting and Gaming, the company’s sports retail division, filed a proposal for the takeover of PointsBet’s US assets in a deal for some $225.0 million, a significant increase from its initial […]
Sports
June 28, 2023
DraftKings Folds Bid for PointsBet US Assets
In a surprising turn of events, DraftKings Inc. announced on June 28 that it will no longer pursue the acquisition of the US business of PointsBet Holdings Ltd. DraftKings expressed its gratitude to PointsBet for their time and cooperation during the process. DraftKings’ Failed Attempt to Acquire PointsBet Paves the Way for Fanatics The collapse […]
Industry
June 27, 2023
PointsBet Requests ASX Trading Halt Due to Material Transaction
Acquisition target PointsBet sent a letter to the Australian Securities Exchange (ASX) this morning to request a trading halt of its stock due to a material announcement. Disclosure Obligations PointsBet requested the immediate implementation of a trading halt on its securities listed on the ASX to allow it to manage its continuous disclosure obligations in […]
Industry
June 26, 2023
Rumors of Personal Motives Behind DraftKings’ PointsBet Bid
Failed merger negotiations may be behind DraftKings’ last-minute bid to acquire PointsBet USA and derail an already negotiated deal with Fanatics, according to a media report. Block Fanatics from New York Entry DraftKings chief executive officer Jason Robins is determined to “level the score” with Fanatics boss Michael Rubin, still holding a grudge after Rubin […]
Business
June 20, 2023
PointsBet Looks into DraftKings’ Acquisition Proposal
PointsBet Holdings Limited caused a significant upset in the sports betting industry, announcing it would engage with DraftKings regarding the latter’s acquisition proposal. Even though the board urged shareholders to vote in favor of the previous Fanatics deal, this recent news means DraftKings may come out on top. Nothing is Yet Set in Stone PointsBet’s […]
Business
June 16, 2023
DraftKings One-Ups Fanatics in a Bid to Purchase PointsBet USA
Interest in PointsBet’s US division continues to mount as multiple parties expressed interest in acquiring the gaming entertainment company’s regional assets. DraftKings’ recent proposal is substantially higher than the competing offer by Fanatics, increasing its appeal to shareholders. A successful acquisition would bolster DraftKings’ position in the rapidly expanding US sports betting market. The New […]
