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PBH, PointsBet
blacksheep
post Posted: Aug 1 2019, 02:50 PM
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Posts: 6,076
Thanks: 2185


In Reply To: blacksheep's post @ Jul 10 2019, 07:59 PM

PointsBet Partners with Penn National Gaming to Secure Market Access in 5 States
QUOTE
1 August 2019 - Melbourne, Australia - PointsBet Holdings Limited (ASX: PBH) (the
“Company”) today announced that its wholly owned subsidiary, PointsBet USA Inc.
(“PointsBet”) and Penn National Gaming Inc. (NASDAQ: PENN) (“PNG”) 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 “Agreement”),
PNG has granted PointsBet the right to develop, own, market and operate, under the authority
of the PNG’s operating licenses (the “B2C Operating Licences”), PointsBet branded online
sportsbook and gaming operations in Ohio, Indiana, Missouri, West Virginia and Louisiana
(each a “Market Access State”), 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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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 10 2019, 07:59 PM
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Posts: 6,076
Thanks: 2185


In Reply To: blacksheep's post @ Jul 1 2019, 12:11 PM

SP nudged $3.00 briefly today - closed $2.92

Got a write up here - After Hawthorne Deal in Illinois, PointsBet Still Looking to Grow in Expanding US Sports Betting Market - https://www.casino.org/news/after-hawthorne...g-to-grow-in-us
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 1 2019, 12:11 PM
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Posts: 6,076
Thanks: 2185


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 Waterhouse’s corporate bookmaking business nearly a decade ago (William Hill acquired it in 2013).
https://www.afr.com/business/gambling/booki...20190425-p51h37

QUOTE
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, PointsBet’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

• 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
• 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
• 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
QUOTE
• 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 PointsBet’s mobile app and
website platforms pending final regulations.
• 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.
• 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



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: nipper  
 
 



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