PointsBet Consider Sale Of Australian Division

Robert Longthorpe - 11 January 2023 in News

PointsBet Casino is an exclusive online sports betting site where players can place their bets on several popular sports leagues across the world. You can place bets on baseball events, MMA, tennis, cycling, boxing events, surfing events, and much more here. There are promotions available too but you need to sign in to be able to view them as they are updated frequently.

The site is also convenient to access, as along with the desktop site, the casino has native mobile apps for Android and iOS devices as well. This saves players time from signing in through their browsers as apps are a more convenient way to access a sportsbook.

Sale of the Company

Now, the Australian-based sports betting site is considering selling its Australian branch to a local Aussie company. The sale is supposed to be in favor of NTD Pty Limited who also owns Betr, another sports micro-betting app.

However, the discussions are still in their primary stages as PointsBet has released a statement confirming that there is no certainty that the discussions will lead to any binding transactions. The company also stated that it explores its options routinely to provide its stakeholders with the maximum value which can include exploring options of a sale.

The terms of the offer were not released but is reported to be valued between $134.9 million and $168.6 million by The Australian.

Possible Reasons for Sale

It has been suggested that the company is considering selling its Australian branch to focus more on sports betting and gaming apps it operates in different parts of the United States including Ohio where it is still pending a license. Ontario is also one of the locations it is focusing on for the future.

There have also been reports that the US division is financially draining the company as they have lost more than $180 million in this fiscal year due to the failed promotions it has undertaken.

The Future of Sports Betting as a Result

According to the Australian Financial Review, this sale could push NTD to consider launching Betr in the US market. This would mean that the company will need to rebrand as it currently focuses on micro-betting and uses original content starring different social media personalities.

Betr is a 50-milliion start-up company, that will definitely make a mark on the US sports betting space if it launches successfully. Now that Ohio is legalising sports betting, the launch could be as soon as next week. This will mean that sports betters will get to play on legalised online sportsbooks across the United States, and will have a lot more options to choose from in the near future.

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PointsBet Consider Sale Of Australian Division

Sale of the Company

Possible Reasons for Sale

The Future of Sports Betting as a Result

Easy To Play At Online Casinos

List of the Top Real Money Online Casinos in NZ

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