Both betr and UK-listed Entain are reportedly interested in acquiring PointsBet’s Australian betting operations. However, the News Corp-backed bookie and Ladbrokes and Neds’ owner won’t be happy to hear that there might be a third party looking to make a move for PointsBet’s Australian wagering arm. That third party is said to be Australian wagering giant Tabcorp.
A Lot of Third-Party Interest in PointsBet
PointsBet (OTC: PBTHF) is seemingly focused on expanding in the US market. So, many companies have seen the Australian betting division as an ideal takeover target. The Australian Financial Review reported that Tabcorp had already held preliminary talks with PointsBet about acquiring its sports betting business in Australia.
According to the AFR story, a PointsBet spokesperson claimed that there was “a lot of third-party interest” in the company’s Australian betting division.
PointsBet CEO Sam Swanell in a way confirmed this statement in a conference call regarding PointsBet’s Q4 financial report. He said that “the amount of third-party strategic interest” in PointsBet demonstrated that they had created “a very valuable business.”
Swanell added that the interest shown in the company gave them many options about how they would take PointsBet forward and maximize value for their shareholders.
However, it is still not officially confirmed that Tabcorp is one of those interested third parties. What is known for now, though, is that all three potential bidders, betr, Entain, and Tabcorp are credible buyers.
Betr was the first to express an interest in its rival a year ago, and Entain has been on something of a splurge recently. In the 2022 full-year report, the Ladbrokes and Neds owner released last week, Entain executives said that acquisitions were key to expanding the business.