PointsBet raising AU$400m for US expansion

Pointsbet, expansion

Australia and US-based PointsBet is aiming to raise AU$400 million from investors to consolidate and expand its position in the US sports betting and iGaming market.

According to reports, Goldman Sachs and MST Financial have already shown their support for the investment.

The move comes as the company released its fourth quarter results, with turnover up 182 percent yearly, to AU$986.1 million and total net win up 81 percent, to AU60.8 million. The group’s US turnover spiked by 956 percent during the quarter, to AU$17.7 million, while its Australia turnover was up 63 percent, to AU494.8 million, with net win at AU43.1 million, up 33 percent.

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