{"id":279272,"date":"2023-06-27T15:37:07","date_gmt":"2023-06-27T20:37:07","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=279272"},"modified":"2023-06-28T11:09:13","modified_gmt":"2023-06-28T16:09:13","slug":"pointsbet-stock-halted-as-big-announcement-could-soon-arrive","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/","title":{"rendered":"PointsBet Halts Trading Pending Announcement"},"content":{"rendered":"

Trading in PointsBet (OTC: PBTHF) stock was halted in Australia on Tuesday for an upcoming, though not described, news event.<\/p>\n

\"PointsBet\"
PointsBet advertising at the Pepsi Center in Denver. The company requested a trading halt in its stock on Tuesday pending a material announcement. (Image: The Business Journals<\/em>)<\/figcaption><\/figure>\n

A market announcement with the Australia Securities Exchange (ASX) confirmed the halt, noting it could be lifted on Wednesday, should the gaming company deliver a news release.<\/p>\n

The securities of PointsBet Holdings Limited (\u2018PBH\u2019) will be placed in trading halt at the request of PBH, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Wednesday, 28 June 2023 or when the announcement is released to the market,\u201d<\/strong> according to a regulatory document.<\/p><\/blockquote>\n

In a letter to Dale Wang, ASX adviser for listings compliance, PointsBet General Counsel Andrew Hensher requested the trading halt. PointsBet\u2019s US-listed shares, which trade over the counter, were also halted on Tuesday.<\/p>\n

PointsBet Could Announce Sale News<\/h2>\n

To be clear, PointsBet did not reveal the topic of the upcoming news announcement. But Hensher wrote in the letter that the trading halt was requested \u201cto enable it to manage its continuous disclosure obligations in relation to a material transaction.\u201d<\/p>\n

This month, the company\u2019s US unit has been a hotbed of acquisition speculation, as Fanatics launched a $150 million all-cash bid for that segment. That was later topped by a $195 million all-cash offer<\/a> from DraftKings (NASDAQ: DKNG).<\/p>\n

\n

The timing of the trading halt is relevant because PointsBet is holding an investor meeting on Friday, at which time, shareholders could vote to approve the deal with Fanatics. That\u2019s also the same date by which DraftKings must formalize its offer for PointsBet US.<\/p>\n<\/div>\n

Less than 10 days ago, PointsBet confirmed it will engage in discussions with DraftKings<\/a>. But it told investors that it continued recommending they vote in favor of the Fanatics proposal because the DraftKings bid is not binding as of yet.<\/p>\n

Other Possibilities for PointsBet<\/h2>\n

For now, it\u2019s just speculation. But the upcoming news release from PointsBet could pertain to a variety of factors. It\u2019s possible that another suitor — not DraftKings or Fanatics — has entered the fray. Not out of the realm of possibility is the point that PointsBet could announce the sale of its Australian business or another segment, though that hasn’t been confirmed.<\/p>\n

\n

Another possibility, and one analysts view as credible<\/a>, is that Fanatics upped its offer. PointsBet would have to disclose that information to investors. Privately held Fanatics hasn\u2019t said it will boost its bid for PointsBet US.<\/p>\n<\/div>\n

There are rumors of bad blood between DraftKings CEO Jason Robins and Fanatics CEO Michael Rubin. How deep that animosity runs and how willing the two are to engage in a full-fledged bidding war for PointsBet US remains to be seen. Clarity could arrive on Wednesday.<\/p>\n","protected":false},"excerpt":{"rendered":"

Trading in PointsBet (OTC: PBTHF) stock was halted in Australia on Tuesday for an upcoming, though not described, news event. A market announcement with the Australia Securities Exchange (ASX) confirmed the halt, noting it could be lifted on Wednesday, should the gaming company deliver a news release. The securities of PointsBet Holdings Limited (\u2018PBH\u2019) will […]<\/p>\n","protected":false},"author":46,"featured_media":216948,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,32093,1],"tags":[81903,81966,81967],"acf":[],"yoast_head":"\nPointsBet Stock Halted As Big Announcement Could Soon Arrive<\/title>\n<meta name=\"description\" content=\"PointsBet stock halted in Sydney as major announcement could arrive on June 28.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PointsBet Stock Halted As Big Announcement Could Soon Arrive\" \/>\n<meta property=\"og:description\" content=\"PointsBet stock halted in Sydney as major announcement could arrive on June 28.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-27T20:37:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-28T16:09:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/PB.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/\",\"url\":\"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/\",\"name\":\"PointsBet Stock Halted As Big Announcement Could Soon Arrive\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/PB.png\",\"datePublished\":\"2023-06-27T20:37:07+00:00\",\"dateModified\":\"2023-06-28T16:09:13+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"PointsBet stock halted in Sydney as major announcement could arrive on June 28.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/PB.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/PB.png\",\"width\":1200,\"height\":675,\"caption\":\"PointsBet advertising at the Pepsi Center in Denver. The company requested a trading halt in its stock today pending a material announcement. (Image: The Business Journals)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"PointsBet Halts Trading Pending Announcement\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"PointsBet Stock Halted As Big Announcement Could Soon Arrive","description":"PointsBet stock halted in Sydney as major announcement could arrive on June 28.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/","og_locale":"en_US","og_type":"article","og_title":"PointsBet Stock Halted As Big Announcement Could Soon Arrive","og_description":"PointsBet stock halted in Sydney as major announcement could arrive on June 28.","og_url":"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2023-06-27T20:37:07+00:00","article_modified_time":"2023-06-28T16:09:13+00:00","og_image":[{"width":1200,"height":675,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/PB.png","type":"image\/png"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/","url":"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/","name":"PointsBet Stock Halted As Big Announcement Could Soon Arrive","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/PB.png","datePublished":"2023-06-27T20:37:07+00:00","dateModified":"2023-06-28T16:09:13+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"PointsBet stock halted in Sydney as major announcement could arrive on June 28.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/PB.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/PB.png","width":1200,"height":675,"caption":"PointsBet advertising at the Pepsi Center in Denver. The company requested a trading halt in its stock today pending a material announcement. (Image: The Business Journals)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/pointsbet-stock-halted-as-big-announcement-could-soon-arrive\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"PointsBet Halts Trading Pending Announcement"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/279272"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=279272"}],"version-history":[{"count":2,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/279272\/revisions"}],"predecessor-version":[{"id":279278,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/279272\/revisions\/279278"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/216948"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=279272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=279272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=279272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}