PointsBet (ASX:PBH) gets green light on Ontario license

Company News

by Lauren Evans

PointsBet's (ASX:PBH) subsidiary PointsBet Canada has been officially approved as a licensed sportsbook in Ontario.

The deal was approved by the Alcohol and Gaming Commission of Ontario and will be effective from April 4 this year.

PointsBet said Ontario is Canada's most populous province and its second largest geographically, covering more than 1 million square kilometres. It is home to Ottawa, Canada’s capital, with over 14.8 million people and a host of professional sports teams.

“Today’s approval of PointsBet Canada as a licensed sportsbook in Ontario effective April 4, 2022, is a momentous step in unveiling our authentically Canadian gaming experience to the province,” said chief executive officer of PointsBet Canada, Scott Vanderwel.

"In just 60 days, PointsBet Canada’s unmatched speed and ease of use, unrivalled in-game betting capabilities, and unique local partnerships will bring Ontario sports fans a new, responsible, and dynamic form of sports betting and entertainment.”

Shares in PointsBet (ASX:PBH) are trading 3.9 per cent higher at $5.08. 

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