PointsBet builds on multi-million-dollar cash injection with new European HQ
Sports betting operator unveils Dublin base and plans to expand technology and product development teams over next few years
PointsBet has opened a new European headquarters in Dublin, with plans to more than quadruple its European workforce over the next three to five years.
The ASX-listed operator, which has its global headquarters in its native Australia, has said it aims to use the office to augment its existing technology and product development teams.
Initially, the office will play host to more than 70 existing staff including developers, quantitative analysts and product managers, however PointsBet’s strategic plans are understood to include expanding these teams over the next 12 months and beyond.
In comments reported by The Irish Times, PointsBet USA CEO Johnny Aitken toasted the opening of the office, and the potential boon that it could give to the US-facing business.
“Putting our stake in the ground here in Dublin is fantastic,” Aitken said.
“As we expand and grow into more states and also more provinces of Canada, which has also legalised sports betting, the team will grow accordingly to meet the demands of that opportunity.”
Discussing future recruitment, Aitken continued: “I could see certainly that quickly swelling into the 200 to 300 employee range in Dublin over the next three to five years.
“There’s no doubt in my mind that we need to continue to fuel growth in Dublin which is going to reap a lot of success for our global business,” Aitken added.
The office is located in the Liberties suburb of the Irish capital, very near to the offices of the former Banach Technologies business, which PointsBet bought for $43m in 2021.
“The Irish people understand US sports betting back to front, they love baseball, college basketball, NFL […] I’ve been so surprised how much they have a passion for US sports,” Aitken explained.
“So while we have teams that are working on the US sports betting opportunity not based in the US itself, that’s more than compensated by the fact that they absolutely have a passion for these sports,” he added.
The move to open a new office in Dublin is the first major step undertaken since the firm revealed a A$94m investment from Rotterdam-headquartered investment firm SIG Sports Investments Corporation (SIG Sports) made earlier this month.
The SIG investment, in the form of a share purchase, makes the firm the largest shareholder in PointsBet. However, another crucial strand in this deal was an agreement by SIG subsidiary Nellie Analytics to provide PointsBet with extensive sports analytics and modelling on a cost-free basis.
The additional investment and data expertise is expected to be leveraged extensively in the US market in the areas of in-play betting and pricing.
Read EGR North America’s exclusive interview with Johnny Aitken, in which he discusses PointsBet’s in-play ambitions here.