{"id":321457,"date":"2024-06-02T21:04:46","date_gmt":"2024-06-03T02:04:46","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=321457"},"modified":"2024-06-02T21:04:46","modified_gmt":"2024-06-03T02:04:46","slug":"stake-com-founders-boosting-pointsbet-stake","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/stake-com-founders-boosting-pointsbet-stake\/","title":{"rendered":"Stake.com Founders Boosting PointsBet Stake"},"content":{"rendered":"

The founders of cryptocurrency casino Stake.com are increasing their position in PointsBet (OTC: PBTHF).<\/p>\n

\"\"
Stake.com founders Ed Craven (left) and Bijan Tehrani in a press photo. The duo boosted their stake in PointsBet to over 5%. (Image: The Australian<\/em>)<\/figcaption><\/figure>\n

Ed Craven and Bijan Tehrani, the Australian billionaire entrepreneurs behind Stake.com<\/a>, told the Australia Securties Exchange (ASX) last Friday that they recently boosted their PointsBet position to 16 million shares, or more than 5% of the bookmaker\u2019s shares outstanding. That\u2019s up from 4.2% at the end of December.<\/p>\n

The duo have been amassing their PointsBet position through Easygo Gaming — a Melbourne-based gaming software company.<\/p>\n

Easygo was established in 2016 by young entrepreneurs Ed Craven and Bijan Tehrani and has quickly become one of Australia\u2019s fastest growing companies. Our brands attract over 200 million visits per month! More than the population of Australia, Mexico, and Italy combined!,\u201d according to the company\u2019s website.<\/p><\/blockquote>\n

Stake.com is what\u2019s known as a gray-market operator. That label implies that while it\u2019s not officially licensed and regulated on par with a white-market equivalent, it is safer for consumers than a black-market counterpart.<\/p>\n

Not Clear if Stake.com Founders to Acquire PointsBet<\/h2>\n

In initiating the PointsBet stake, Craven and Tehrani signaled an intent to better capitalize on more traditional forms of wagering \u2013 something the sports wagering company certainly delivers. However, it\u2019s not clear if the duo want to acquire PointsBet outright.<\/p>\n

\n

The Australian bookmaker has long been the subject of consolidation rumors. Last year, it sold its US operations to Fanatics for $225 million in cash<\/a>. PointsBet telegraphed that move by noting to investors it was struggling to garner credible market share in the US and that it might not have the financial resources to compete in this market for the long-term.<\/p>\n<\/div>\n

Executives acknowledged that despite the fact that DraftKings (NASDAQ: DKGN) and privately held Fanatics engaged in a small bidding war for PointsBet US, that business was sold at a loss.<\/strong><\/p>\n

However, the gaming company makes money in its home market and it retained its Canadian operations, which are also viewed as a potentially valuable asset. Still, it\u2019s not clear if Craven and Tehrani want to eventually gain majority control of PointsBet or if they\u2019ll become activist investors<\/a>.<\/p>\n

Some Synergies Between Stake.com, PointsBet<\/h2>\n

While Stake.com is widely viewed as a cryptocurrency casino, it does have a sportsbook, indicating that Craven and Tehrani are knowledgeable of that business and there are potential synergies between their company and PointsBet.<\/p>\n

Again, the Stake.com founders haven\u2019t overtly said that they want to acquire PointsBet, but their company has been the subject of takeover rumors of its own.<\/strong><\/p>\n

Nearly a year ago, reports surfaced that the internet casino operator was kicking the tires<\/a> on Chicago-based Rush Street Interactive (NYSE: RSI) — another gaming name often tied to takeover speculation — but a deal didn\u2019t materialize.<\/p>\n","protected":false},"excerpt":{"rendered":"

The founders of cryptocurrency casino Stake.com are increasing their position in PointsBet (OTC: PBTHF). Ed Craven and Bijan Tehrani, the Australian billionaire entrepreneurs behind Stake.com, told the Australia Securties Exchange (ASX) last Friday that they recently boosted their PointsBet position to 16 million shares, or more than 5% of the bookmaker\u2019s shares outstanding. That\u2019s up […]<\/p>\n","protected":false},"author":46,"featured_media":297973,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,24066,10,1],"tags":[81913,81892,81903,81967],"acf":[],"yoast_head":"\nStake.com Founders Boosting PointsBet Stake<\/title>\n<meta name=\"description\" content=\"Stake.com Founders Boosting PointsBet Stake.\" \/>\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\/stake-com-founders-boosting-pointsbet-stake\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stake.com Founders Boosting PointsBet Stake\" \/>\n<meta property=\"og:description\" content=\"Stake.com Founders Boosting PointsBet Stake.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/stake-com-founders-boosting-pointsbet-stake\/\" \/>\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=\"2024-06-03T02:04:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/11\/Stake.com-founders-Ed-Craven-and-Bijan-Tehrani-in-a-press-photo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\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\/stake-com-founders-boosting-pointsbet-stake\/\",\"url\":\"https:\/\/www.casino.org\/news\/stake-com-founders-boosting-pointsbet-stake\/\",\"name\":\"Stake.com Founders Boosting PointsBet Stake\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/stake-com-founders-boosting-pointsbet-stake\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/stake-com-founders-boosting-pointsbet-stake\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/11\/Stake.com-founders-Ed-Craven-and-Bijan-Tehrani-in-a-press-photo.jpg\",\"datePublished\":\"2024-06-03T02:04:46+00:00\",\"dateModified\":\"2024-06-03T02:04:46+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Stake.com Founders Boosting PointsBet Stake.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/stake-com-founders-boosting-pointsbet-stake\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/stake-com-founders-boosting-pointsbet-stake\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/stake-com-founders-boosting-pointsbet-stake\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/11\/Stake.com-founders-Ed-Craven-and-Bijan-Tehrani-in-a-press-photo.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/11\/Stake.com-founders-Ed-Craven-and-Bijan-Tehrani-in-a-press-photo.jpg\",\"width\":1000,\"height\":750,\"caption\":\"Stake.com founders Ed Craven (left) and Bijan Tehrani in a press photo. 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