MM’s thoughts on PBH please

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Question asked 02/09/2023

MM’s thoughts on PBH please

Thanks James and Team for your ongoing commentary, I own PBH and wondering if I just sell my full holding now ( at around $1.625 ) or wait to receive the proceeds from the sale of their US business , expected to be around $1.40 per share . This will leave PBH with essentially their Australian business ( not sure how much this would be worth ? ) - this part of the business may or may not be subject to a takeover down the track ? I would appreciate MM thoughts on this question General Advice Only ,Thanks .David

Answer

Hi David,

We had PBH management in last week and Harry attended, and without putting words in his mouth (he is on holidays), he came back optimistic on what the Australian business should be able to deliver once the US side goes. As you rightly point out, and I suspect you may have answered your own question, we think the Australian business is worth more than the difference between the current share price and the cash coming back from the US sale.

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PointsBet Holdings Ltd (PBH)

LAST UPDATED 01/09/2023 13:10

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