PointsBet Denies Takeover Rumours Amid Expansion Plans

Australian betting company PointsBet has denied rumours of a potential takeover bid following an article in The Australian. On Monday, PointsBet responded to a report that claimed the company could be the target of a quick acquisition by a foreign firm for A$300 million (about CAD 275 million). 

According to the article, PointsBet allegedly talked with several potential buyers, including one from Asia.

In an official statement, PointsBet denied the rumours. “PointsBet does not comment on rumours or speculation, but confirms that it is not in talks as reported in the article,” the statement said.

PointsBet is now focused on expanding in Canada and Australia after selling its US assets to Fanatics in June. In Canada, the company reported a 57% increase in sports betting and a 50% increase in iGaming revenue in the third quarter, significantly outperforming the overall market in Ontario.