The Pointsbet Holdings Ltd (ASX: PBH) share price is in focus today after the corporate maker revealed the NFL has approved it as a sportsbook operator.
Pointsbet’s latest US win
The company announced today that it has been selected by the National Football League (NFL) as an approved sportsbook operator, beginning with the upcoming 2021 season.
Pointsbet said that the relationship provides Pointsbet with sponsorship opportunities and brand visibility through integrations across various television and digital assets, including NFL owned networks and their media partners. Pointsbet will also get use of official NFL data, enhancing the customer experience.
The ASX share also pointed out that earlier this year, it announced that NFL all-time great Drew Brees had joined Pointsbet’s team as a brand ambassador. Mr Brees is transitioning to a broadcasting career with NBC Sports, which is Pointsbet’s official sports betting partner. Pointsbet said that this will deepen the relationship between the company and NBC Sports.
Management comments
Pointsbet USA CEO Johnny Aitken said:
“The Pointsbet team is excited to become an approved sportsbook operator of the NFL leading into the 2021/2022 season, as the relationship will be a cornerstone for Pointsbet to provide the fastest and most comprehensive in-play betting experience in the world.
“Through our fixed odds and unique Pointsbetting platform, we seek to offer the most NFL pre-game betting options. This relationship now complements that pre-game offering with a heightened in-play experience as we continue to expand our national footprint on a more seamless and reliable app across every customer touchpoint.”
Pointsbet share price thoughts
Over the last six months the Pointsbet share price has fallen more than a third. That’s despite the ongoing success of the company in making progress in the US.
I think it’s an interesting company. The fact that it’s had so much success in growing its operations is a good sign for future profitability. I’m just not sure what the right price is for the business for a decent margin of safety. Today’s price could be a good price.
