Changes are happening - please bear with us while we update our site.

Join Free
Log in

Changes are happening - please bear with us while we update our site. Click here to give us your advice and feedback.

Join Free
Log in

Pointsbet (ASX:PBH) share price jumps on Premier Turf acquisition

The Pointsbet Holdings Ltd (ASX:PBH) share price has risen more than 3% after announcing an acquisition called Premier Turf Club. 
Picture of Jaz Harrison

Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
More analysis

The Pointsbet Holdings Ltd (ASX: PBH) share price has risen more than 3% after announcing an acquisition called Premier Turf Club.

What is Pointsbet’s acquisition?

Pointsbet USA has entered into an agreement to buy advance deposit wagering racing operator Premier Turf Club for US$2.9 million.

This business is licensed in Oregon and it’s set to situate Pointsbet within the growing US online racing market (thoroughbreds, harness and greyhounds) as the company continues to expand across the US.

Premier Turf Club has been in business over 13 years with the website BetPTC.com, which is overseen by general manager and long time industry executive Todd Bowker. Mr Bowker will become the Vice President of Racing for PointsBet USA.

Why is Pointsbet buying Premier Turf Club?

The company said racing has a unique role to play alongside sports wagering and iGaming in the US. The racing industry in the US generates over $12 billion of turnover annually.

Premier Turf Club has extensive industry expertise and relationships, customer-focused operations and excellent reputation, which will be immediately positive for the company as it enters new markets with premium products.

Management comments

Pointsbet USA CEO Johnny Aitken said: “Pointsbet is very pleased to join forces with Premier Turf Club. The combination of Premier Turf Club’s excellence in the space with Pointsbet’s mature market Australian racing expertise favourably positions us as we prepare to enter the US horseracing market. Today’s noteworthy acquisition complements our in-house approach while growing our premier product suite, and we are excited to welcome Premier Turf Club to the PointsBet team.”

Summary thoughts on the PointsBet share price

Pointsbet investors are excited about the acquisition, but it’s small at under US$3 million. It will be interesting to see how much of a difference it makes over the coming years.

The ASX share has a promising future in the US, it’s such a huge market. But now the company has to go and generate earnings to justify the excitement in the share price.

There are some other ASX growth shares that have less growth expectations baked in.

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Access all reports now

Unsubscribe anytime. Read our Terms, Financial Services Guide, Privacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned.

Latest stories

Free passive income report
Skip to content