Penn National Gaming acquires stake in PointsBet

Finance News

PointsBet Holdings has attracted an investment from Penn National Gaming’s Penn Interactive Ventures of 16.5M shares, which works out to a 6.27% voting stake.

PointsBet recently announced the launch of its market-leading mobile app and digital sports betting product in West Virginia. West Virginia marks the seventh operational state for PointsBet’s premium sports betting product, following successful launches in New Jersey, Iowa, Indiana, Illinois, Colorado, and Michigan. The company is looking to gain at least a 10 percent share in the North American markets in which it operates.