Australia's PointsBet falls as co enters deal for U.S. arm sale

PointsBet Holdings

15/05/2023 03:27

** Shares of PointsBet Holdings  PBH.AX  fall as much as
22.5% to A$1.430, set for their worst day since Feb 28, if trend
holds
    ** The gambling firm says it entered into a binding
agreement with Fanatics Betting and Gaming for sale of its U.S.
business
    ** Co says agreement is for sale of its U.S. sports
wagering, advanced-deposit wagering and iGaming operations,
Banach technology, among others, for cash consideration of $150
mln
    ** PBH stock hits its lowest level since May 1
    ** Stock up 24.24% YTD, as of last close
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))