PointsBet triggers A$400m capital raising exercise as US GGR rockets 1,859%

Australian operator reveals ambition to become top-five player in US market with an eventual market share of 10%

PointsBet has launched a A$400m (£211.5m) share rights issue with the aim to jumpstart its assault on the US sports betting market. The Australia-headquartered operator’s share offer comprises two elements: an offering for retail investors and a separate placement of shares with institutional investors. The fully underwritten retail offering will see the ASX-listed firm’s stock…

Australia | Finance | PointsBet | Sam Swanell | US | US sports betting