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PointsBet (ASX:PBH) share price falls despite US NFL news

This sports betting company’s shares are falling on Thursday…
The post PointsBet (ASX:PBH) share price falls despite US NFL news appeared first on The Motley Fool Australia. –

The PointsBet Holdings Ltd (ASX: PBH) share price is falling on Thursday.

In morning trade, the sports betting company’s shares are down 1% to $10.18.

Why is the PointsBet share price falling?

Investors have been selling down the PointsBet share price today after weakness in the tech sector offset the release of a positive update relating to its US operations.

According to the release, PointsBet has been selected by the National Football League (NFL) as an Approved Sportsbook Operator (ASO), beginning with the upcoming 2021 season.

The release explains that this provides PointsBet with sponsorship opportunities and brand visibility via unique integrations across various television and digital assets. This includes NFL owned networks as well as their full suite of media partners. In addition, PointsBet will gain use of official NFL data, which it expects to enhance the customer experience.

A cornerstore relationship

PointsBet USA’s CEO, Johnny Aitken, commented: “The PointsBet team is excited to become an Approved Sportsbook Operator of the NFL leading into the 2021/22 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.”

The company notes that this will complement its exclusive sports betting partnership with NBC Sports. It intends to utilise the media giant’s premium television and digital assets to promote the PointsBet brand during NFL events.

It also highlights that NBC Sports provides PointsBet with year-round, multi-platform media and marketing opportunities across its unmatched portfolio of events. This includes exclusive multiplatform gameday integrations across NBC Sports Regional Networks.

The PointsBet share price is now down 12% year to date.

The post PointsBet (ASX:PBH) share price falls despite US NFL news appeared first on The Motley Fool Australia.

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More reading

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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