The Pointsbet Holdings Ltd (ASX: PBH) share price rise around 5% today after announcing some news regarding the NHL.
Pointsbet is a corporate bookmaker with operations in both Australia and the US. The company also offers clients a cloud-based wagering platform for sports and racing wagering products. Pointbet’s product offering includes fixed odds sports, fixed odds racing and pointsbetting.
NHL win
Pointsbet announced today that it has won a multi-year partnership with the National Hockey League (NHL), naming PointsBet as the official sports betting partner of the NHL.
The agreement between PointsBet and the NHL is for both the US and Australia. PointsBet will be able to use NHL marks and logos as well as a variety of NHL sponsorship and promotional opportunities for its brand across various linear, digital and social media assets.
Pointsbet also wanted to point out that the deal allows it to integrate content into live NHL game broadcasts across NHL media partners, including NBC Sports, NBC Sports Regional Networks, Altitude TV and other potential future linear alignments.
The company, NBC Sports and the NHL have already begun installing integrations for the 2021 NHL season, including PointsBet odds, data and insight to complement the pre-game, in-game and post-game broadcasts.
As part of the partnership, the company has agreed to issue the NHL 43,106 new shares, representing US$500,000 of value. The shares will be in a ‘holding lock’, released in equal portions after 12, 24 and 36 months.
NHL comments
NHL chief business officer Keith Wachtel said: “As the sports betting landscape evolves at a rapid pace, we continue to develop unique, strategic alliances within the sports gaming industry.
“Our partnership with PointsBet brings to life our collaboration with our valued media partners and we look forward to enhancing our fan engagement opportunities in concert with both PointsBet and NBC.”
Summary thoughts
This is yet another impressive win for Pointsbet. The company is winning deals across all of the major sports in the US. If sports betting takes off in the US then PointsBet could be a big winner over time, if it can capture serious market share. With a market capitalisation of above $3 billion now, it has already got a lot of growth priced in. But it could be one to watch.
Other ASX growth shares going well in the US include the digital giving software business Pushpay Holdings Ltd (ASX: PPH).
