PointsBet, Rush Street Interactive Considered Takeover Targets
Amid expectations that 2023 could follow a twelvemonth of significant consolidation activity inwards the sports wagering industry, PointsBet (OTC: PBTHF) and Benjamin Rush Street Interactive (NYSE: RSI) remain possible takeover targets, according to marketplace observers.
Both operators experience long been tied to mergers and acquisitions speculation. Those rumors stay even out though no deals feature materialized, and both firms remain independent entities today. With analysts forecasting an uptick inwards takeover activity this year, however, there’s conjecture that could change. PointsBet CEO Sam Swanell recently noted some suitors hold expressed interest in the Australia-based gaming company.
The amount of third-party strategic involvement shown inward our accompany demonstrates we experience reinforced a really valuable business,” he said during the company’s fourth-quarter financial update. “This gives us important optionality around how we accept the business sector forwards to maximise note value for our shareholders.”
PointsBet’s Australia and US operations get both been the subjects of takeover chatter.
Why PointsBet, RSI Could Be Attractive Targets
PointsBet could follow an interesting direct because it’s naturalized inwards the attractive US marketplace despite its small boilers suit securities industry share.
Combine PointsBet’s electric current US licenses and marketplace capitalization of just $309.48 million, and it could be an affordable point for a vendee that believes it put up spread out the operator’s domestic help footprint. Penn Entertainment (NASDAQ: PENN) would likely win a PointsBet takeover because the regional cassino operator owns an equity stake inward the Aussie firm.
Specific to Rush Street Interactive, that company’s marketplace value is $860.23 gazillion — palatable for any keep down of larger suitors. It’s also nearing profitability, making it all the to a greater extent attractive to would-be buyers. The operator also offers an attractive commix of US and Latin America exposure.
RSI operates below the BetRivers and PlaySugarHouse brands, and is currently useable with mobile or retail businesses in Canada, Colorado, Illinois, Indiana, Iowa, Michigan, New Jersey, New York, Pennsylvania, Virginia, and Dame Rebecca West Virginia. The society is also ane of the largest sportsbook operators inwards Colombia and Mexico.
Interesting RSI Rumors
RSI went public inward 2020 followers a setback merger with a special resolve acquisition companionship (SPAC). Since then, it’s been a rumored butt for some big-name suitors. That chatter could intensify due to the operator’s iGaming exposure, which is coveted and significantly to a greater extent profitable than online sports wagering. Should fifty-fifty a little keep down of states approve cyberspace casinos this year, RSI takeover verbalize could make headway momentum.
Previous venture indicated ESPN and Fanatics expressed interest in getting RSI, but no sell came to life. Those companies may revisit possibilities with RSI, or other entities could get involved.
“There’s also been venture that private-equity solid Phoebus Global Management could scoop shovel upwardly RSI as it looks for a sports-betting manipulator to merge with its Yahoo Sports assets,” Insider reported.
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