PointsBet Holdings could soon be the subject of a takeover bid worth more than $300 million from an overseas suitor, sources say.

The listed bookmaker is understood to have held talks in recent months with potential merger partners or companies looking to acquire it. Some of the talks are likely to have been informal.

Pointsbet shares are up more than 80% since the start of September, and climbed about 6% on November 8, 2024.

At least one suitor from Asia is said to have entered serious talks about a potential merger or takeover, which would likely be subject to regulatory approval and Foreign Investment Review Board scrutiny. Pointsbet’s market capitalisation reached about $290 million on November 8, 2024.

Any takeover offer would likely be at a premium to its current share price, suggesting a bid would be more than $300 million.