News Corp-backed Aussie bookmaker to launch in New Jersey
PointsBet announces licensing partnerships with Meadowlands Racetrack in New Jersey and Tioga Downs in New York
Australian bookmaker PointsBet has announced plans to launch in the US by Q4 2018, after signing new partnerships with Meadowlands Racetrack in New Jersey and Tioga Downs in New York.
The Meadowlands partnership is a licensing deal which will see PointsBet launch its online and mobile betting products in the Garden State.
The Tioga Downs deal would have similar structure, should New York legalize online sports betting.
PointsBet was co-founded in 2015 by two Tom Waterhouse alumni, Sam Swanell and, Andrew Fahey, and is heavily focused on US sports.
The operation has about 40 shareholders from the US, Hong Kong, Singapore and the UK, who have provided a fresh $30m of equity for PointsBet’s US ambitions.
One of those shareholders is News Corp, which owns the New York Post, The Wall Street Journal and Fox News and could provide media support for the brand.
“We were impressed by the PointsBet team from our first meeting”, said Jeff Gural, chairman of the Meadowlands and Tioga Downs.
“They have a creative approach, with their highly differentiated Points Betting product and aggressive go to market plan. I believe they are the ideal complement to our other partners and am confident they will quickly become a meaningful player in the US market”.
Gural’s tracks have previously partnered with FanDuel to offer on-course and online betting where allowed.
Sam Swanell, CEO of PointsBet, added: “Mr Gural can see that PointsBet will bring the same energy and innovation that has allowed us to rapidly grow the PointsBet sportsbook business in Australia.
“Via our advanced back-end and front-end technology, we are confident PointsBet will become the sports betting service of choice for players wanting the most exciting and wide-ranging bet types. PointsBet has significant ambitions for the US market and we can’t wait to get started in New Jersey.”