Bookmaker PointsBet has confirmed it is in preliminary talks with NTD, owner and operator of wagering operator Betr, over a potential sale of its Australian trading business.

Media reports of a potential deal last week said that Betr was keen to purchase PointsBet’s local business for up to $250 million. If successful, it would be the latest in a series of consolidation plays in Australia’s wagering industry.

While it confirmed the talks, PointsBet said in a filing with the Australian Securities Exchange that there is no certainty that the discussions will morph into a transaction.

A deal for PointsBet’s Australian business would set the stage for Betr to explore a transaction in the lucrative US market.