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PointsBet (ASX:PBH) launches in New York

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ASX:PBH      MCAP $169.2M
25 January 2022 16:29 (AEST)

PointsBet Denver HQ. Source: PointsBet/ LinkedIn

PointsBet’s (PBH) subsidiary has launched online and mobile sports betting in New York.

The company announced its wholly-owned subsidiary, PointsBet New York, launched its online and mobile sports betting, with the first bet taking place at 10:09 pm.

New York marks the ninth operational state for PointsBet’s sports betting product, following launches in New Jersey, Iowa, Indiana, Illinois, Colorado, Michigan, West Virginia, and Virginia.

In November, the New York State Gaming Commission (NYSGC) recommended PointsBet New York be awarded a platform provider license to operate mobile sports wagering in the state.

New York legalised sports betting at its commercial casinos in 2013 and has featured retail sports betting since July 2019. New York mobile sports betting received legislative approval in April 2021 and went live in January 2022.

“Launching in New York is a significant milestone for PointsBet, being one of nine approved online sports betting operators in the state,” said Johnny Aitken, PointsBet USA CEO.

“New York’s passionate sports fans and bettors will now have access to the fastest online sports betting product in market, with a live, in-game betting experience that PointsBet controls through our proprietary technology and world-class team.”

Through its partnership with NBC Sports, PointsBet will use the media giant’s television and digital assets to promote the brand in New York.

PointsBet dropped 5.81 per cent, trading at $5.35 at the end of the trading day.

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