PointsBet denies media speculation regarding takeover talks
Australian operator rejects suggestion a deal is imminent after claims made in an article published by The Australian on 8 November
PointsBet has shut down any rumours of a potential takeover after media reports suggested a deal was on the horizon.
Media outlet The Australian published an article on 8 November suggesting Melbourne-based PointsBet had held informal discussions with several interested parties regarding either a merger or a full sale of the business.
The article said a deal worth A$300m (£153m) had been touted between PointsBet and several unnamed companies.
The operator’s share price increased in wake of the article, rising 6% on 8 November and currently sitting at A$0.98 at the time of writing – up 9% since market opening.
However, in a statement released today (11 November), PointsBet distanced itself from any talk of an imminent sale.
The statement, authorised by the firm’s Board Disclosure Committee, said: “PointsBet refers to recent media speculation, first published in The Australian on Friday, 8 November 2024, regarding a potential transaction.
“Generally, PointsBet does not comment on rumour or speculation. However, the company confirms that it is not in discussions as suggested in the article.
“The company will keep the market updated in accordance with its continuous disclosure obligations under ASX listing rule 3.1.”
In April, PointsBet completed the sale of its US-facing arm to Fanatics in a $225m (£178m) deal.
The operator reported revenue of A$79.3m for its fiscal Q1 2025 results, up 5% year on year.
Speaking as part of the operator’s Q1 2025 update, CEO Sam Swanell hailed the firm’s recent financials, despite July’s point of consumption tax increase in the state of Victoria from 10% to 15%.