In what could be seen as a major development for the future of sports betting, PointsBet has secured $75 million in funding from SIG Sports.
PointsBet, a global betting exchange and affiliate platform for sports fans has secured an AU$94.2m (US$65M) investment from SIG Sports Investment Corp., one of the largest members in Susquehanna International Group companies with over thirty-five years experience managing funds focused exclusively on investments involving sporting activity/entertainment industries including: horse racing operations based out New York City; football club ownership interests across Europe – namely Italy where they are majority shareholders at AC Milan Football Club SPA.
The operator has agreed to issue 38,750.000 shares at a price of A$2.43 per share – which represents 15% more than their 5-day volume weighted average cost over the last 17 weeks!
When the PointBet new shares are issued, they will represent 12.8% of its issue capital with SIG Sports getting a majority share after investing just under 10%.
“Passionate about transforming the sports betting experience, we at SIG Sports are excited to have made what will be a long-term investment in PointsBet,” said Jeff Yass.
“After thoroughly evaluating North America’s market for partners who can help us deliver on this vision — and after lengthy conversations with many potential candidates–we believe that working together is worth every ounce of time invested.”
“It’s always great to see a company who has been working hard succeed, and we believe that the PointsBet team is capable of success. We know they will need our help in order for them reach their full potential as an industry leader.”
The operator’s board will remain unchanged as a result of the equity placement. Notifications are being sent to PointsBet’s gaming regulators so they can stay updated on developments related with this investment opportunity for sports fans everywhere!
With their joint commitment, PointsBet and Mr.Paton are confident that they can continue offering world class products for bettors around the globe!
“The partnership between our two companies is an excellent example of how well-aligned cultures can work together. We look forward to working with this team as they invest in themselves and grow.”
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