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PointsBet (ASX:PBH) plans to raise $303M

Candice Cooke, Australia - August 2021

Reach Capital

PointsBet (ASX:PBH) plans to raise $303M

Sports betting platform PointsBet is planning to raise $303 Mil through a entitlement offer and institutional placement.

PointsBet is one of the fastest growing online sportsbooks in the US. Originally founded in Australia, PointsBet is a cutting-edge bookmaker that prides itself on having the fastest and most user-friendly betting app while also providing the best content and experience for sports bettors.

Funds raised will be used to support several initiatives, including platform enhancements and the company's five-year marketing plan to push its success in the US even further.

The placement began on September 2 and will end on September 4, while the entitlement will start on September 7.