PointsBet Sportsbook Hires Investment Bank to Accelerate Exit from North American Market
As of now, it is unclear who will acquire PointsBet Sportsbook or for how much. The company has hired investment bank Moelis & Co. to help expedite its exit from the North American sports betting market. PointsBet offers a New York sports betting license and market access across several supply-constrained states, which makes it an attractive opportunity for potential acquirers. Potential candidates for a sale are tough to sort through, but Bally’s and DraftKings could be in the market depending on the price. WynnBet previously wanted $500 million for their online sports betting business, and PointsBet’s proprietary technology and parlay-rich systems could launch its sale price higher. However, the uncertain waters of the market’s growth to maturity and the tech bubble’s mini pop may lead to mass consolidation that leaves a handful of major players in the market.