PointsBet (PBH) share price nearly doubles
Pointsbet (PBH) +86.67%
Full year results were largely in line with expectations, if not a little better despite the EBTIDA loss increasing to -$37.6m. Pointsbet has been focusing on winning market share in the US, and spending big to do it so it wasn’t a huge surprise that it printed another loss for the financial year. The stock popped today, to put it lightly, after it partnered with major US network NBC. The network has the largest sports audience in the US with over 184m viewers with PointsBet holding exclusive rights for “pre-game, postgame and in-game promotional enhancements” as well as integration into television and digital platforms of NBC. For its trouble, NBC will collect a 4.9% stake in PBH as well as nearly 67m options maturing in 5 years’ time. PointsBet also intend to undertake a capital raise though renounceable entitlement offer for shareholders, to be launched after market on Wednesday next week. A win for the punters.
PointsBet (PBH) Chart
