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PBH - POINTSBET HOLDINGS LIMITED


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Recent IPO - chaired by former senior UBS and Citi banker Brett Paton (also a one-time director of both Tabcorp and its spin-off The Star Entertainment Group) and run by Sam Swanell, who helped establish Tom Waterhouseâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s corporate bookmaking business nearly a decade ago (William Hill acquired it in 2013).

https://www.afr.com/business/gambling/booki...20190425-p51h37

 

PointsBet is a corporate bookmaker, offering innovative sports and racing betting products and services direct to Clients via its scalable cloud-based technology Platform. Founded in 2015, PointsBet has grown rapidly since launching its innovative sports betting product, PointsBetting, in Australia in February 2017. By March 2018, PointsBet provided a full-service corporate bookmaker offering in Australia, adding Fixed Odds Racing (September 2017) and Fixed Odds Sports (March 2018) to complement its PointsBetting product.

 

In addition, the Founders saw the potential for PointsBet to utilise its Platform and its innovative product offering to gain market access in high potential new markets, in particular the United States.

Australia:

 

In 2018, PointsBetâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s Australian offering covered over 85,700 sporting events across 23 sports (including novelty markets) and more than 153,900 racing events across 22 countries. PointsBet aims to offer more pre-match markets on the NBA, NFL, MLB, NHL and AFL than any other bookmaker in the world.

Australia represents the highest per capita gambling expenditure in the world, with 64% of Australian adults estimated to participate in some form of gambling each year. As such the Wagering Industry in Australia is highly competitive and highly regulated.

 

United States:

There is a significant market opportunity in the United States for PointsBet, as a result of the Professional and Amateur Sport Protection Act (PASPA) being overturned by the US Supreme Court in May 2018. This has enabled individual states to introduce legislation to permit sports betting, including online wagering.

 

In July 2018, PointsBet entered the United States market by signing the New Meadowlands Agreement, giving the Company a commercial licence to operate as an online corporate bookmaker in New Jersey. PointsBet commenced taking bets in New Jersey in December 2018 and launched its brand and marketing campaign in January 2019

 

âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚¢ in July 2018, PointsBet entered into the Tioga Downs Option Agreement, giving the Company the option to acquire a commercial licence to expand its wagering operations into New York, subject to the passing of enabling legislation

âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚¢ in April 2019, PointsBet signed an agreement with the Catfish Bend Casino in Iowa to enable PointsBet to operate the exclusive retail sports book operations at the Catfish Bend Casino and to offer online and mobile sports wagering in Iowa

âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚¢ in April and May 2019, PointsBet signed agreements with operators in Colorado and Illinois to enable PointsBet to operate the exclusive retail sports book operations at properties owned by those operators and to offer online and mobile sports wagering in the states of Colorado and Illinois respectively. Both agreements are subject to the passing of enabling legislation by the relevant state.

 

PointsBet is led by an experienced Management team and highly competent Board of Directors, with a demonstrated track record in the Wagering Industry, with relevant business knowledge, financial management, legal expertise, corporate strategy and corporate governance experience.

https://investors.pointsbet.com.au/

 

extract of article by FiftyOne Capital, Scott Williams

- https://www.livewiremarkets.com/wires/private-punting

Private punting

While it's exciting to think about the growth and future size of online wagering in the US, it is a slow and legislative process. So as each state opens up online gambling, the competitors all begin jostling for a market-leading position and the punter's dollars.

 

What makes a successful gambling business is those that have scale (i.e. a lot of customers). Wagering is effectively creating a market that allows the bookmaker to profit regardless of the outcome. In theory, the number of wagers each side of a market should balance (in practice this doesn't often happen). The bigger your customer base, the more predictable and profitable your bookmaking should be. Gambling is a highly scalable business which makes it a very competitive market that requires significant promotion and marketing to acquire and retain users.

 

PointsBet (ASX:PBH), which has recently raised $75m at a valuation of $220m (EV of $150m and current market cap around $285m), is now entering this potentially lucrative market. PointsBet in the first half of FY2019 saw revenue of $12m for an after-tax loss of $8.5m. As indicated below, this was largely driven from a big increase in sales and marketing expense as they aggressively acquired users in this rapidly growing market. They estimate they now have around 18,000 users in New Jersey (around 4% of gambling turnover in that state).

 

Ann out today PointsBet Names Hawthorne Race Course as Sports Betting Partner in Illinois. SP up 4.49% @ $2.56

Key features of the partnership

âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚¢ The agreement involves PointsBet and Hawthorne partnering to launch retail sports

betting at the Hawthorne Race Course as well as at off-track betting establishments

throughout the State (OTBs) and digital sports wagering via PointsBetâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s mobile app and

website platforms pending final regulations.

âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚¢ The term of the partnership is twenty (20) years from the date on which the first wager is

taken in the State of Illinois by PointsBet with a mutual option to renew for an additional

ten (10) years.

âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚¢ PointsBet will pay to HRC a market access fee as well as a portion of the Net Gaming

Revenues derived from the sportsbook operations. PointsBet and HRC will invest an

agreed amount to create a world-class retail sportsbook located 8.5 miles from Downtown

Chicago, in addition to outfitting select OTB locations for retail operations. PointsBet will

be responsible for the licensing and regulatory costs in connection with launching and

operating the PointsBet services.

 

Also on gambling - Macquarie bans credit card gambling from tomorrow - may/may not impact on stocks like PBH

https://d3n8a8pro7vhmx.cloudfront.net/gx/pa....pdf?1561802800

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PointsBet Partners with Penn National Gaming to Secure Market Access in 5 States

1 August 2019 - Melbourne, Australia - PointsBet Holdings Limited (ASX: PBH) (the

âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Companyâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂ) today announced that its wholly owned subsidiary, PointsBet USA Inc.

(âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“PointsBetâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂ) and Penn National Gaming Inc. (NASDAQ: PENN) (âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“PNGâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂ) have entered into an

agreement for digital sports betting and gaming services in the United States.

 

Under the terms of the Online Gaming Services Framework Agreement (the âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Agreementâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂ),

PNG has granted PointsBet the right to develop, own, market and operate, under the authority

of the PNGâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s operating licenses (the âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“B2C Operating Licencesâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂ), PointsBet branded online

sportsbook and gaming operations in Ohio, Indiana, Missouri, West Virginia and Louisiana

(each a âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Market Access Stateâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂ), subject to enabling legislation (as relevant) and licensure in

each of those States. Schedule 1 provides an overview of the status of enabling legislation in

these States.

 

In addition to the Market Access States, PNG has granted PointsBet a right of first offer for

any new market access points, not currently committed by PNG to a third party, which

becomes available.

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Updated chart. Broke through $4.00 mark ($4.09 high)- currently $4.00/share.

 

About to release shares from mandatory escrow on 31 October 2019

 

For the purpose of Listing Rule 3.10A, PointsBet Holdings Limited (ASX:PBH) advises that

the 2,639,654 ordinary shares (as referred to in the Pre-Quotation Disclosure issued by the

Company dated 12 June 2019) will be released from mandatory escrow on 31 October 2019.

 

The Company will apply for quotation of these shares within 10 business days after the end of

the escrow period as required by ASX Listing Rule 2.8.2.

https://www.shortman.com.au/stock?q=pbh

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Rattling the tin already - currently in TH.

PointsBet announces A$122.1 million Capital Raising

PointsBet Holdings Limited (PointsBet or Company) to raise A$122.1 million through a fully

underwritten capital raising comprising an institutional placement to raise A$60 million (Placement) and

1 for 6 accelerated pro rata renounceable entitlement offer with retail entitlements trading to raise

A$62.1 million (Entitlement Offer).

 

PointsBet will undertake a fully underwritten capital raising to raise A$122.1 million via:

 

- Placement of new, fully paid ordinary shares (New Shares) to raise A$60 million at A$3.60 per

New Share (Placement Price). The Placement Price represents a 13.9% discount to

PointsBetâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s closing price of A$4.18 on 28 October 2019, and a 14.2% discount to the 5-day

VWAP; and

 

- 1 for 6 Entitlement Offer to eligible shareholders at an offer price of A$3.20 per New Share

(Entitlement Offer Price) to raise A$62.1 million. The Entitlement Offer Price represents a

23.4% discount to PointsBetâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s closing price of A$4.18 on 28 October 2019, and a 20.8%

discount to the TERP1 of A$4.0

 

https://www.shortman.com.au/stock?q=pbh

 

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Broke through $5.00 briefly. SP currently $4.95. Could be a number of brokers analysts talking it up

 

Is PointsBet Holdings worth a bet?

https://www.livewiremarkets.com/wires/is-po...ngs-worth-a-bet

 

Bell Potter has lifted their target price to $6.25. Important to remember .......

Bell Potter Securities Limited is acting as lead manager, bookrunner and underwriter to the Capital Raising.

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after getting as high as $15 in early 2021, PBH has had a slide to as low as $1.92 recently; the company is finding it hard to make inroads in what is described as a fiercely competitive US market. However, an investor with deep pockets has bought in. Jeff Yass holds a desire to differentiate in the gambling market by offering betting against a player; not just picking winners as is the case in America at present.

• PointsBet has welcomed a significant equity investment from SIG Sports Investments Corp., a member of the Susquehanna International Group of Companies. SIG is one of the largest proprietary financial trading firms in the world.
• The placement of 38,750,000 shares at A$2.43 per share, raises A$94.16 million and represents a 15% premium to the 5 day VWAP to 17 June 2022.
• SIG Sports will become the largest shareholder in PointsBet representing 12.8% of Company issued capital following issuance.

• Further, PointsBet Europe Holdings Limited and Nellie Analytics Limited, a member of SIG, have entered into an agreement to scope and develop the terms for Nellie Analytics to provide sports analytics and quantitative modelling services to complement PointsBet’ and its existing capabilities to accelerate the technology roadmap.
 

Jeff Yass of SIG Sports believes PointsBet can do for sports betting what SIG has done for options: create deep and stable two sided markets, where PointsBet has the confidence to offer sharp pricing that encourages large gamblers to make big bets against the house.
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