Penn National doubles down on PointsBet stake

US operator exercises option to increase shareholding over 5% in A$35m deal

Penn Interactive Ventures (PIV), the online subsidiary of Penn National Gaming, has increased its shareholding in Australian sportsbook operator PointsBet in a A$35m (£18.5m) deal. In a trading statement released on the Australian Securities Exchange, PointsBet confirmed the increased shareholding, which occurred due to Penn exercising an option to increase its stake. Under this arrangement,…

Finance | Penn National Gaming | PointsBet | US | US sports betting