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PointsBet Holdings (ASX:PBH) - Founder, CEO & Director, Sam Swanell - The Market Herald
Founder, CEO & Director, Sam Swanell
Source: The Australian
  • Online bookmaker PointsBet (PBH) has officially launched its betting program in Illinois
  • The new launch is the consumer discretionary stock's fourth foray into the online U.S. sportsbook space
  • PointsBet also has a flagship sportsbook in downtown Chicago, within the Chicago Metropolitan Area — home to three quarters (or 9.5 million) of Illinois' total population
  • Looking ahead, PointsBet says it's also targeting launches in Colorado and Michigan
  • The launch comes just a few weeks after the corporate bookmaker inked a "transformational" five-year partnership with U.S. media giant NBC and tabled a $303 million capital raise
  • PointsBet shares are trading 0.82 per cent higher on the back of the news, worth just over $11.00 each

Online bookmaker PointsBet (PBH) has officially launched its betting program in Illinois.

The new launch is the consumer discretionary stock's fourth foray into the online U.S. sportsbook space. Before this, PointsBet launched in Indiana, New Jersey and Iowa.

Significantly, PointsBet is also the fourth company in history to launch online sports betting in Illinois.

While today's launch is predominantly online-centric, PointsBet has also set up a brick-and-mortar presence in the state. The company's Illinois-based sportsbook is just 13 kilometres from downtown Chicago, where PointsBet is also placed within the Chicago Metropolitan Area, which is home to three quarters (or 9.5 million) of Illinois' total population.

Looking ahead, PointsBet says it's also targeting launches in Colorado and Michigan.

The launch comes just a few weeks after the corporate bookmaker inked a "transformational" five-year partnership with U.S. media giant NBC and tabled a $303 million capital raise.

"The PointsBet team is excited to share that we are now officially live in Illinois, our fourth state of operation in the U.S. The passionate sports fans in the state can now experience our leading online sports betting product and see for themselves
why we’ve long stated that the best product experience will win," Pointsbet's U.S. CEO Johnny Aitken commented.

"PointsBet possesses competitive advantages by owning our technology environment from end to end, such as unrivalled speed and ease of use on a personalized platform. We, together with our partner Hawthorne Race Course, are excited to provide the Illinois consumer with exactly what they've been craving," he continued.

"Representing the first state to launch following our transformational partnership with NBCUniversal, PointsBet will utilise NBC Sports’ premium television and digital assets to promote the PointsBet brand across the sixth-largest US State by population," Johnny concluded.

PointsBet shares are trading 0.82 per cent higher on the back of the news, worth just over $11.00 each at 2:07 pm AEST.


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