After an extended period of struggle to win a larger US market share, the Australian-based sports betting giant PointsBet has decided to sell its U.S. operations. As Front Office Sports reports, the company has already hired an investment bank to arrange the sale.
The bank that will facilitate the sale of PointsBet’s North American operations is the investment bank Moelis & Company. The company reportedly commented on the expected arrangement: “We believe further industry consolidation is inevitable.”
Unexpected Market Performance:
PointsBet’s decision follows a series of partnerships in the North American market that have recently been terminated, such as those with odds provider NBC Sports and the University of Colorado testifying about the difficulties the company has experienced during its North American expansion. According to the source, the wagering company was ranked as the seventh-largest sportsbook in the country with DraftKings and FanDuel anchored at the leading US market position.
The bank that will facilitate the sale of PointsBet’s North American operations is the investment bank Moelis & Company. The company reportedly commented on the expected arrangement: “We believe further industry consolidation is inevitable.”
Unexpected Market Performance:
PointsBet’s decision follows a series of partnerships in the North American market that have recently been terminated, such as those with odds provider NBC Sports and the University of Colorado testifying about the difficulties the company has experienced during its North American expansion. According to the source, the wagering company was ranked as the seventh-largest sportsbook in the country with DraftKings and FanDuel anchored at the leading US market position.
