PointsBet Refutes Rumors of $300 Million Takeover Amid Market Speculation
In response to circulating rumors, PointsBet, a leading Australian gambling operator, has officially dismissed claims of an impending $300 million takeover from an international entity. The company firmly denied these speculations today, stating that no such discussions have occurred.
Over the recent weekend, speculations arose suggesting that PointsBet was engaged in negotiation talks regarding a potential takeover, potentially involving Asian interests. Despite the media buzz, PointsBet has categorically denied these claims in a recent statement, reaffirming its stance of not commenting on market rumors unless necessary.
This denial comes after PointsBet’s shares saw a significant increase, with stocks trading up to 13.3% above their opening price earlier in the day, stabilizing at a 10.2% increase to $0.98 by the time of reporting. The company emphasizes its commitment to transparency, pledging to keep the market informed as per the continuous disclosure obligations under the ASX Listing Rule 3.1.
Since the divestiture of its U.S. operations to Fanatics last June for $225 million, speculation about the future of PointsBet’s Australian and Canadian operations has continued. Notably, earlier acquisitions in the betting industry, such as Betr by BlueBet and Stake.com’s strategic asset acquisitions, have kept the market on alert regarding PointsBet’s potential as a takeover target.
Amidst these rumors, PointsBet has reported a strong start to the 2025 financial year, with a notable 12% increase in total net win reaching $65.3 million. This growth is driven primarily by sports betting, which itself has seen a 10% year-on-year increase to $60.7 million. The company also highlighted significant achievements in the Canadian market, where iGaming net win jumped 50% to $4.6 million.
Looking forward, PointsBet anticipates revenues to be between $280 million and $290 million for the full year, indicating a potential increase of 6.7% from the previous fiscal year. The EBITDA is also expected to significantly improve, with estimates ranging from $11 million to $16 million, moving up from a $1.8 million loss last year. PointsBet remains a key player in the betting market, consistently outperforming in both Australian and Canadian sectors.
The betting industry continues to evolve with recent strategic moves such as acquisitions and market entries by various firms, suggesting a dynamic future for entities like PointsBet amid ongoing market speculations.
