DraftKings, the Nasdaq-listed wagering group best known for its fantasy sports contests, has emerged as a late bidder for PointsBet’s business in the United States, lobbing a last-minute offer of $US195 million .
“The directors of PointsBet are committed to acting in the best interest of shareholders, are considering the DraftKings proposal, and intend to provide their recommendation to PointsBet shareholders in relation to the sale of the US business in advance of the extraordinary general meeting,” the company said. That meeting is scheduled for June 30.
“You had a situation [in 2018] where pretty much every online betting company in the world targeted that market,” Mr Swanell said. “It is expensive, the cost of doing business there because it’s a state-by-state market. You need scale.” It previously held discussions with News Corp-backed Betr, rejecting a $220 million bid last June. Others that have looked at the Australian bookmaking division include London-listed Entain and ASX-listed Tabcorp.