PointsBet USA Inc, a wholly owned subsidiary of PointsBet Holdings Ltd, has agreed in principle to acquire Premier Turf Club LLC, an Advance Deposit Wagering (ADW) company licensed by the Oregon Racing Commission.
The agreement is set to initially position PointsBet within the US online horse racing market as the company continues its rapid expansion across the country.
“PointsBet is very pleased to join forces with Premier Turf Club,” noted the firm’s CEO Johnny Aitken. “The combination of Premier Turf Club’s excellence in the space with PointsBet’s mature market Australian racing expertise favorably positions us as we prepare to enter the US horse racing market.
“Today’s noteworthy acquisition complements our in-house approach while growing our premier product suite, and we are excited to welcome Premier Turf Club to the PointsBet team.”
Premier Turf Club, known as “Racing’s Best Kept Secret,” has been in business over 13 years and operates the website BetPTC.com. The company is overseen by General Manager Todd Bowker, a long-time industry executive, who will become Vice President of Racing for PointsBet USA.
Bowker previously served as General Manager of AmericaTab Ltd, where he led the start-up of the company and oversaw the operational management of what grew to become the fourth largest Advance Deposit Wagering company licensed in Oregon. Premier Turf Club’s highly experienced staff will also be joining the PointsBet team.
He commented: “As Premier Turf Club was exploring options for how we might enter the sports betting market, we realized early on that we wanted to partner with a highly regarded and experienced operator.
“PointsBet’s history in racing in Australia made them an ideal choice, and we are excited to join their team. We look forward to be able to offer sports wagering to our customers in jurisdictions where legal, and to expose PointsBet’s customers to the excitement of betting on racing.”
In a statement, PointsBet said: “For the operators able to execute on the opportunity, horse racing has a unique role to play alongside sports betting entertainment and content in the United States. The horseracing industry in the US generates over $12bn in handle annually, with only half wagered through ADW products legally available in 38 states.
“PointsBet aims to be at the center of innovation and growth in US horse racing, and the addition of ADW adds to PointsBet’s growing proprietary wagering product set which already includes a fixed odds sportsbook, PointsBetting, and online casino.”