Stake.com owners Ed Craven and Bijan Tehrani have acquired over 16 million shares in PointsBet, bringing their stake to just under 5.01%. This transaction was executed through Stake.com’s parent company, Easygo Gaming, and resulted in a 7% increase in PointsBet’s share price.
Previously, in December 2023, Stake.com had acquired 4.2% of PointsBet through a series of transactions.
Easygo spokesperson commented: “We will continue to expand our investment portfolio and seek additional opportunities in the global media and entertainment ecosystem. Easygo’s decision to acquire additional shares in PointsBet reflects our confidence in the company’s long-term strategic plans and improved trading performance.”
Last year, it was reported that Stake.com was pursuing an Australian betting license, with Craven and Tehrani applying through the Northern Territory Racing Commission. Stake.com has been growing, recently opening a hub in Bogota after acquiring Betfair Colombia and launching Stake.com in the Colombian market. The company plans to employ over 50 people across Latin America by the end of 2024.
In May, PointsBet issued its financial outlook for 2024, citing strong trading performance in the second half of the year. The Australian sports betting operator noted improved operational efficiency and productivity, contributing to a positive outlook.
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