Home / Sector / Consumer Staples & Discretionary Shares / PointsBet (ASX:PBH) share price lifts following Canada update

PointsBet (ASX:PBH) share price lifts following Canada update

The sport of curling dates back some 600 years.

Posted by
Bernd Struben
Author bio Bernd Struben earned his BA in economics from the University of Michigan in 1991, with post-graduate studies in environmental economics at the University of Connecticut. Over the years he’s written about and analysed the tourism industry in the Caribbean; Europe’s commercial real estate markets; and, since moving to Australia in 2010, global and Aussie share markets. Bernd studies geopolitical and macroeconomic trends, alongside sector and company specific data, to gauge what he believes could be tomorrow's best investments. In his free time, you might find Bernd at the beach with his family or working on his next science fiction novel. Areas of expertise Australian and global share markets Macroeconomic and geopolitical trends Real estate Education Economics, University of Michigan Favorite investment quote "The four most dangerous words in investing are: 'This time it's different." — Sir John Templeton
Published
| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The PointsBet Holdings Ltd (ASX: PBH) share price is up 4.45% to $10.09 per share in morning trade.

Shares in the corporate bookmaker are gaining even as the S&P/ASX 200 Index (ASX: XJO) is again struggling. The ASX 200 is currently up 0.12% after earlier trading in the red.

Below we take a look at the latest news for the company.

A group of men in the office celebrate after winning big.

Image source: Getty Images

What's going on in Canada?

The company reported that PointsBet Canada has entered into an agreement to become the exclusive sports betting partner of Curling Canada. PointsBet Canada is a 100% owned subsidiary of PointsBet Holdings. However, this is non-price sensitive news, unlikely to have a material impact on the PointsBet share price.

According to the release, more than 13 million viewers tune in to Curling Canada's events every season. That ranks it among the highest-rated sports programming in the country.

What's more, the agreement includes complete category exclusivity covering the company's Sports Book and Online Casino for all Curling Canada event broadcasts.

Curling Canada's CEO, Katherine Henderson, commented on the agreement:

With the passing of legalised sports betting by the federal government this past summer, we knew that there would be many opportunities available for our sport to be part of a new, legal and regulated way for fans to enjoy our events.

PointsBet's track record speaks for itself, as the company has existing partnerships with a variety of highly regarded partners around the world…

PointsBet Canada's CEO, Scott Vanderwel, added:

Our partnership with Curling Canada will not only support community-based sports but bring curling fans who, our research shows, are active bettors and over-index when compared to fans of other sports, an unprecedented sports betting experience.

PointsBet expects to launch operations in Ontario in the first quarter of 2022, pending regulatory approvals.

PointsBet share price snapshot

The PointsBet share price has struggled so far in 2021, down 13% year to date. That compares to a gain of 9% posted by the ASX 200.

However, PointsBet shares are up just over 2% over the past month.

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.

More on Consumer Staples & Discretionary Shares

A wine technician in overalls holds a glass of red wine up to the light and studies it.
Broker Notes

Down 39%, are Treasury Wine shares now a bargain buy?

| Bernd Struben

Two top analysts deliver their verdicts on Treasury Wine’s beaten down shares.

Read more »

A gavel is placed on a stand on a desk with a legal representative wearing a suit in the background.
Consumer Staples & Discretionary Shares

Harvey Norman penalised $35 million in ASIC court case

| Laura Stewart

Harvey Norman is set to pay a $35 million penalty after a Federal Court judgment in the ASIC case, impacting…

Read more »

a fashionable older woman walks side by side with a stylish younger woman in a street setting as they both smile at something they are talking about.
Consumer Staples & Discretionary Shares

Myer Holdings share price in spotlight amid FY26 sales rise

| James Mickleboro

The department store operator has released its preliminary results this morning.

Read more »

Man holding Australian dollar notes, symbolising dividends.
Consumer Staples & Discretionary Shares

How much must I invest in Coles shares to earn a $1,000 passive income in 2027?

| Tristan Harrison

Here’s what it takes to unlock $1,000 of passive income.

Read more »

A man in a business suit peers through binoculars as two businesswomen stand beside him looking straight ahead at the camera.
Consumer Staples & Discretionary Shares

Buy, hold, sell: Woolworths, Elders, Wesfarmers shares

| Samantha Menzies

Only one is expected to experience a share price increase over the next 12 months.

Read more »

A gavel on the table at court as hands gesticulate behind it.
Consumer Staples & Discretionary Shares

Domino's Pizza Enterprises faces court ruling in class action earnings update

| Laura Stewart

Domino’s Pizza Enterprises faces ongoing uncertainty after a Federal Court ruling in its wage class action case.

Read more »

Two business people face off across the boardroom table.
Consumer Staples & Discretionary Shares

Accent Group: Takeover bid extension announced

| Laura Stewart

Accent Group shares are in focus after the Frasers Group extended its takeover offer, providing shareholders more time to respond.

Read more »

Accountant woman counting an Australian money and using calculator for calculating dividend yield.
Consumer Staples & Discretionary Shares

Here's the dividend forecast out to 2028 for Woolworths shares

| Tristan Harrison

Should dividend investors go shopping for Woolworths shares?

Read more »