- PointsBet’s (PBH) subsidiary, PointsBet USA, has entered a binding agreement to acquire account wagering provider Premier Turf Club for US$2.9 million (roughly A$3.7 million)
- Premier Turf Club (PTC) is licensed by the Oregon Racing Commission and is set to position PointsBet within the growing U.S. online racing market
- PointsBet says this is another step forward in its rapid expansion across the United States
- PointsBet shares last traded at $13.56
PointsBet’s (PBH) subsidiary, PointsBet USA, has entered a binding agreement to acquire Premier Turf Club for US$2.9 million (roughly A$3.7 million).
The transaction with the active advance deposit wagering operator is subject to customary completion conditions. Premier Turf Club (PTC) is licensed in Oregon by the Oregon Racing Commission and is set to position PointsBet within the growing U.S. online racing market.
PointsBet says this is another step forward in its rapid expansion across the United States.
PBH says it aims to be at the centre of innovation and growth in U.S. horseracing, and the addition of advance deposit wagering adds to PointsBet’s growing proprietary wagering product set which already includes a fixed-odds sportsbook and online casino.
The racing industry in the U.S. generates over US$12 billion (around A$15 billion) in turnover annually.
PointsBet says PTC’s extensive industry expertise and customer-focused operations will be of immediate value to PBH as the company looks to continue its proven track record of entering new markets with premium products while accelerating client value and growth in the United States.
“The combination of Premier Turf Club’s excellence in the space with PointsBet’s mature market Australian racing expertise favourably positions us as we prepare to enter the U.S. horseracing market,” said PointsBet U.S. CEO, Johnny Aitken.
“Today’s noteworthy acquisition complements our inhouse approach while growing our premier product suite, and we are excited to welcome Premier Turf Club to the PointsBet team.”
PTC’s BetPTC.com website is overseen by General Manager Todd Bowker, who will become Vice President of Racing for PointsBet USA following the agreement. The transaction is expected to close later this month.
PointsBet shares last traded at $13.56 on May 7.