PointsBet Holdings Limited announced today that its wholly-owned subsidiary PointsBet USA Inc. (“PointsBet”), has entered into a binding agreement to acquire Premier Turf Club, LLC, an active pari-mutuel Advance Deposit Wagering (ADW) operator (“Premier Turf Club”) for US$2.9 million (£2.06 million/€2.38 million).
The transaction is subject to customary completion conditions and is expected to close later this month.
Premier Turf Club is licensed in Oregon by the Oregon Racing Commission and is set to situate PointsBet within the growing US online racing market (thoroughbreds, harness and greyhounds) as the Company continues its rapid expansion across the United States.
“PointsBet is very pleased to join forces with Premier Turf Club,” noted PointsBet USA CEO Johnny Aitken. “The combination of Premier Turf Club’s excellence in the space with PointsBet’s mature market Australian racing expertise favourably positions us as we prepare to enter the U.S. horseracing market. Today’s noteworthy acquisition complements our inhouse approach while growing our premier product suite, and we are excited to welcome Premier Turf Club to the PointsBet team.”
“As Premier Turf Club was exploring options for how we might enter the sports betting market, we realized early on that we wanted to partner with a highly regarded and experienced operator,” said Todd Bowker, Premier Turf Club’s General Manager. “PointsBet’s history in racing in Australia made them an ideal choice, and we are excited to join their team. We look forward to be able to offer sports wagering to our customers in jurisdictions where legal, and to expose PointsBet’s customers to the excitement of betting on racing.”