PointsBet has dismissed rumors of an impending A$300 million (€185 million) acquisition deal.
The rumored takeover, reported on Friday by The Australian, owned by business magnate Rupert Murdoch, suggested that the online gaming company might be acquired by an undisclosed international buyer.
According to the report, PointsBet has held multiple discussions with potential partners about a merger, with most talks being informal. However, one potential Asian buyer was reportedly engaged in more serious negotiations around a possible merger or acquisition.
Any confirmed deal would require approval from Australian regulators, including a review by the Foreign Investment Review Board.
Following the news, PointsBet shares initially surged 24% to A$1.02 before settling back to A$0.98 later in the day.
The operator said: “Generally, PointsBet does not comment on rumour or speculation. However, the company confirms that it is not in discussions as suggested in the article.
“The company will keep the market updated in accordance with its continuous disclosure obligations under ASX Listing Rule 3.1.”
PointsBet has been the subject of M&A rumors since selling its U.S. subsidiary for $225 million to Fanatics Betting & Gaming in October 2023. Earnings + More sources told us that Matt Tripp’s Betr could be a possible buyer in November 2023, though the deal ultimately did not close.
Instead, the online operator has decided to merge with rival BlueBet, with the combined business trading under the Betr brand.
PointsBet shares surged in September after it was revealed that activist investor HG Vora had cut his stake from nearly 10% to 4.6%.
The company’s shares are now trading above the level they were at before the Fanatics deal closed in April 2024.
The stock surged 9% last month after the company released a positive Q1 2025 earnings report. The company’s net profit for the first quarter reached AUD65.3 million, up from AUD58.2 million in the same quarter last year. The growth was driven by strategic product developments and expansion
Don’t forget to subscribe to our Telegram channel!
