{"id":620,"date":"2022-06-21T14:13:11","date_gmt":"2022-06-21T11:13:11","guid":{"rendered":"https:\/\/xxbet-company.com\/pointsbet-sells-nearly-13-percent-stake-to-sig-sports-in-65-5m-transaction\/"},"modified":"2022-06-21T14:13:11","modified_gmt":"2022-06-21T11:13:11","slug":"pointsbet-sells-nearly-13-percent-stake-to-sig-sports-in-65-5m-transaction","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/pl\/pointsbet-sells-nearly-13-percent-stake-to-sig-sports-in-65-5m-transaction\/","title":{"rendered":"PointsBet Sells Nearly 13 Percent Stake to SIG Sports in $65.5M Transaction"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Spis tre\u015bci<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/xxbet-company.com\/pl\/pointsbet-sells-nearly-13-percent-stake-to-sig-sports-in-65-5m-transaction\/#SIG_Sought_the_Right_Partner\" title=\"SIG Sought the \u2018Right Partner\u2019\">SIG Sought the \u2018Right Partner\u2019<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/pl\/pointsbet-sells-nearly-13-percent-stake-to-sig-sports-in-65-5m-transaction\/#PointsBet_CEO_Deal_Will_Benefit_Bettors\" title=\"PointsBet CEO: Deal Will Benefit Bettors\">PointsBet CEO: Deal Will Benefit Bettors<\/a><\/li><\/ul><\/nav><\/div>\n<p class=\"NewNormal\">Australian-based PointsBet announced on Monday (Sunday night US time) that it received a substantial investment from a division of Susquehanna International Group (SIG) of Companies that will make the US company the largest shareholder in the sportsbook.<\/p>\n<figure aria-describedby=\"caption-attachment-218037\" data-style=\"width: 2400px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.casino.org\/news\/pointsbet-sells-nearly-13-stake-to-sig-sports-in-65-5m-transaction\/screen-shot-2022-06-20-at-2-54-08-am\/\" rel=\"attachment wp-att-218037 nofollow noopener\" target=\"_blank\"><img loading=\"lazy\" class=\"wp-image-218037 size-full lazyload\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-06-20-at-2.54.08-AM-142x101.png\" data-src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-06-20-at-2.54.08-AM-142x101.png\" alt=\"PointsBet\" width=\"2400\" height=\"1700\" data-srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-06-20-at-2.54.08-AM.png 2400w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-06-20-at-2.54.08-AM-142x101.png 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-06-20-at-2.54.08-AM-1024x725.png 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-06-20-at-2.54.08-AM-768x544.png 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-06-20-at-2.54.08-AM-1536x1088.png 1536w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-06-20-at-2.54.08-AM-2048x1451.png 2048w\" sizes=\"(max-width: 2400px) 100vw, 2400px\" data- title=\"\"><img loading=\"lazy\" class=\"wp-image-218037 size-full\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-06-20-at-2.54.08-AM.png\" alt=\"PointsBet\" width=\"2400\" height=\"1700\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-06-20-at-2.54.08-AM.png 2400w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-06-20-at-2.54.08-AM-142x101.png 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-06-20-at-2.54.08-AM-1024x725.png 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-06-20-at-2.54.08-AM-768x544.png 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-06-20-at-2.54.08-AM-1536x1088.png 1536w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-06-20-at-2.54.08-AM-2048x1451.png 2048w\" sizes=\"(max-width: 2400px) 100vw, 2400px\" title=\"\"><\/a><figcaption class=\"text-description\">A PointsBet sign at the PointsBet Sports Bar, located at the Little Caesars Arena in Detroit. On Sunday night (US time), PointsBet announced SIG Sports Investments, a division of Susquehanna International Group, would acquire a nearly 13% stake in the sports betting operator, making it the largest shareholder in the company. (Image: PointsBet Sports Bar)<\/figcaption><\/figure>\n<p class=\"NewNormal\">The AUD 94.2 million (USD 65.5 million) deal gives SIG Sports Investments Corporation (SIG Sports) nearly 38.8 million shares of PointsBet stock. That equates to a 12.8% ownership stake in the company. The AUD 2.43 (USD 1.69) per share price works out to a roughly 15% premium over PointsBet\u2019s five-day volume weighted average price.<\/p>\n<p class=\"NewNormal\">PointsBet\u2019s board will not change as a result of the move, according to the company\u2019s announcement.<\/p>\n<p class=\"NewNormal\">Brett Paton, PointsBet\u2019s chairman, called SIG Sports \u201ca visionary investor\u201d in a statement, and noted SIG\u2019s qualifications in analytical trading in financial markets.<\/p>\n<p class=\"NewNormal\"><strong>\u201cThe cultural alignment between both organizations is strong, and this investment will assist with expanding and growing our North American operations as we seek to lead in in-play betting and enhancing the overall customer experience,\u201d<\/strong> Paton said.<\/p>\n<p class=\"NewNormal\">The stake acquisition by SIG Sports comes a week after news reports indicated PointsBet <a href=\"https:\/\/www.casino.org\/news\/pointsbet-turned-away-takeover-offer-for-aussie-unit\/\" rel=\"nofollow noopener\" target=\"_blank\">rebuffed an offer<\/a> of AUD 220 million (USD 153.1 million) by NewsCorp and Australian bookmaker Matthew Tripp for the company\u2019s Australian operations.<\/p>\n<p>PointsBet also has been previously tied to rumors that online retailer Fanatics would buy it as the company\u2019s entry into sports betting.<\/p>\n<h2 class=\"NewNormal\"><span class=\"ez-toc-section\" id=\"SIG_Sought_the_Right_Partner\"><\/span>SIG Sought the \u2018Right Partner\u2019<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"NewNormal\">SIG is a privately held global trading firm. It has taken its approach to the financial markets and established subsidiaries where its analytical modeling approach can also be used. That includes sports betting, where the company provides liquidity in legal markets.<\/p>\n<p class=\"NewNormal\">Cofounder and Managing Director Jeff Yass said in a statement that the Pennsylvania-based firm spent years researching the North American market for the \u201cright partner\u201d in sports betting.<\/p>\n<blockquote class=\"main-blockquote\">\n<p class=\"NewNormal\"><strong>We have been following their journey for some time and have developed a very positive view of the overall business operations and the capability of the PointsBet leadership team,\u201d<\/strong> Yass said. <strong>\u201cWe believe PointsBet has great potential for future growth and success in the North American sports betting market, and SIG has both the analytics and the capital to help realize that potential.\u201d<\/strong><\/p>\n<\/blockquote>\n<p class=\"NewNormal\">In the US, PointsBet operates in Colorado, Illinois, Indiana, Iowa, Michigan, New Jersey, <a href=\"https:\/\/www.casino.org\/news\/pointsbet-becomes-sixth-mobile-sports-betting-operator-to-launch-in-new-york\/\" rel=\"nofollow noopener\" target=\"_blank\">New York<\/a>, Pennsylvania, West Virginia, and Virginia. This past week, it joined BetMGM as the first two operators to apply for a license in Ohio, which is set to allow sports betting on Jan. 1, 2023. PointsBet also offers online sports betting and gaming in Ontario, Canada\u2019s largest province.<\/p>\n<p class=\"NewNormal\">SIG\u2019s sports betting venture isn\u2019t the only connection to gambling for Yass. According to The Hendon Mob, an online database of poker players, Yass played in a World Series of Poker event nine years ago. He finished 12th in the $5,000 limit hold\u2019em event and earned more than $16,000 in winnings.<\/p>\n<h2 class=\"NewNormal\"><span class=\"ez-toc-section\" id=\"PointsBet_CEO_Deal_Will_Benefit_Bettors\"><\/span>PointsBet CEO: Deal Will Benefit Bettors<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"NewNormal\">As part of the agreement between PointsBet and SIG, SIG\u2019s Nellie Analytics will provide its \u201csports analytical services\u201d to PointsBet\u2019s European holdings company, previously known as Banach Technology, at no charge for a nine-month exploratory period. The long-term goal behind the collaboration is to develop a \u201ctechnology roadmap\u201d to enhance PointsBet\u2019s in-game wagering options.<\/p>\n<p class=\"NewNormal\">PointsBet CEO Sam Swanell said that Nellie will help it offer a better product to sports bettors.<\/p>\n<p class=\"NewNormal\"><strong>\u201cIn practical terms, the partnership will enable PointsBet to have more accurate lines and sharper risk management,\u201d<\/strong> Swanell said. <strong>\u201cThis will flow through to our customers in the form of higher wage limits, less price suspension, faster bet placements, and improved value for bettors.\u201d<\/strong><\/p>\n<p>The post <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\/pointsbet-sells-nearly-13-stake-to-sig-sports-in-65-5m-transaction\/\" target=\"_blank\">PointsBet Sells Nearly 13 Percent Stake to SIG Sports in $65.5M Transaction<\/a> appeared first on <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Australian-based PointsBet announced on Monday (Sunday night US time) that it received a substantial investment from a division of Susquehanna International Group (SIG) of Companies that will make the US company the largest shareholder in the sportsbook. A PointsBet sign at the PointsBet Sports Bar, located at the Little Caesars Arena in Detroit. On Sunday <a href=\"https:\/\/xxbet-company.com\/pl\/pointsbet-sells-nearly-13-percent-stake-to-sig-sports-in-65-5m-transaction\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":621,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/posts\/620"}],"collection":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/comments?post=620"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/posts\/620\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/media\/621"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/media?parent=620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/categories?post=620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/tags?post=620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}