Finance giant Susquehanna has purchased 12.76% of PointsBet, making it the gambling operator’s largest shareholder.
PointsBet will issue 38.75 million new shares to SIG Sports, a unit of Susquehanna International Group, or SIG, at $1.68 ($2.43 AUS) per share, the company said Sunday in a filing with the Australian Securities Exchange. That’s a roughly 13% increase over PointsBet’s closing share price on Friday.
In addition to the $65.2 million ($94.16 million AUS) investment, PointsBet announced that Nellie Analytics, which was founded by SIG, has entered into an agreement to provide technology and data to the company.
Susquehanna co-founder and managing director Jeff Yass said in a statement that the investment came after “several years” of studying the growing North American sports betting market.
