- Melbourne-based betting company PointsBet (PBH) has received a permit to operate in the state of Illinois
- The corporate bookmaker can now run retail and online betting across the U.S. state when its partner receives a Master Sports Wagering Licence
- Earlier this year, PointsBet also launched betting programs in Michigan and Indiana
- And on July 9, PBH kickstarted a fixed-odds betting program for horse racing in New Jersey
- PointsBet investors have reacted positively to today’s announcement, spurring the PBH share price 1.06 per cent higher to trade for $5.71 each
Melbourne-based betting company PointsBet (PBH) has received a permit to operate in the state of Illinois.
The corporate bookmaker can now run retail and online betting across the U.S. state when its partner, Hawthorne Race Course, receives a Master Sports Wagering Licence.
The Midwest state, which is home to over 12 million people, is the latest in a string of territories where PBH has launched betting programs.
Earlier this year, PointsBet also launched sports betting initiatives in Michigan and Indiana.
And on July 9, PBH kickstarted a fixed-odds betting program for horse racing in New Jersey.
Sports betting in Illinois
Since May 2018, the U.S. states have had the power to legalise sports betting. In mid-2019, the Illinois Governor introduced the state’s own betting laws.
That same year, a report on sports betting’s potential financial effects in Illinois was released.
It reckoned legalised betting could increase net gaming industry revenue by nearly US$565 million (approximately A$808.03 million) every year. It also forecast sports betting in the midwest state would create over 2500 jobs across 90 licenced locations.
PBH’s vision for sports betting in Illinois involves a “world-class, multifaceted sports entertainment venue” at the Hawthorne Race Course. The bookmaker is also looking into multiple off-track betting outlets throughout greater Chicago.
Now the all-important operating permit has been granted, PointsBet is one step closer to making that dream a reality.
PointsBet investors have reacted positively to today’s announcement, spurring the PBH share price 1.06 per cent higher to trade for $5.71 each at 1:35 pm AEST.