PBTHF - PointsBet gains on report about potential deal with Fanatics
2023-05-12 12:54:40 ET
- PointsBet ( OTCQX:PBTHF ) ADR's rose 11% amid a report that Fanatics ( FANA ) is in advanced talks with the sports betting company about a transaction.
- A deal may be announced as early as next week, according to a SportsHandle report. The speculation comes after PointsBet USA CEO Johnny Aitken abruptly canceled an appearance at a prominent gaming conference in New Jersey earlier this week.
- PointsBet ( OTCQX:PBTHF ) CEO Samuel Swanell said late last month on the company's results call that the company was in discussion with multiple parties in respect of potential transactions that would involve all or part of its North American business, saying that some talks wer e "well advanced."
- Australia-based PointsBet ( OTCQX:PBTHF ) has access in 14 states, including New York, New Jersey and Illinois.
- Last last month Fanatics has hired Meta's ( META ) head of investor relations to lead its own IR operations ahead of an anticipated initial public offering.
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PointsBet gains on report about potential deal with Fanatics