PointsBet Holdings (ASX:PBH)
has announced that its wholly owned subsidiary PointsBet New Jersey has been authorised by the New Jersey Department of Gaming Enforcement to launch its iGaming platform in that state.
PointsBet is a corporate bookmaker with operations in Australia and the US. The company offers its clients sports and racing wagering products.
Across New Jersey, Pennsylvania, Michigan, and West Virginia, all being the states in which PointsBet has iGaming market access, iGaming revenues reached nearly US $900 million in the June 2021 quarter. New Jersey iGaming revenues in particular, have grown at a compound annual growth rate (CAGR) of 62 per cent and 101 per cent in 2019 and 2020 respectively.
PointsBet CEO and managing director Sam Swanell said, "We are thrilled to be able to expand our iGaming presence in the United States and bring our proprietary online casino product to the robust New Jersey market.”
Shares in PointsBet (ASX:PBH)
are trading 2.3 per cent higher at $12.37.