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 wheat farmer stands with his arms crossed in a paddock of wheat ready for harvest with his header harvesting equipment operating in the background.
Consumer Staples & Discretionary Shares

GrainCorp shares fall after surprise $30 million cost increase

| Aaron Teboneras

Higher costs have taken the shine off a solid outlook.

Read more »

Farmer holding grains in his hands.
Consumer Staples & Discretionary Shares

GrainCorp keeps guidance steady as transformation delivers gains

| Laura Stewart

GrainCorp keeps FY26 earnings guidance steady, highlights transformation gains and prepares for a strong winter crop outlook.

Read more »

two men raise their fists and shout with their mouths wide open on a sofa as though they are watching sport or something stirring on a television that is out of picture.
Consumer Staples & Discretionary Shares

Nine Entertainment secures Premier League rights through 2034

| Laura Stewart

Nine extends exclusive Premier League rights to 2034, cementing Stan Sport as a key driver of growth and boosting its…

Read more »

Man on a plane using a laptop with headphones on.
Consumer Staples & Discretionary Shares

Corporate Travel shares plunge another 9%: Is the worst yet to come?

| Marc Van Dinther

Corporate Travel looks cheap, but investors still face major unanswered questions.

Read more »

Two shop workers smiling and looking at a laptop surrounded by plants.
Consumer Staples & Discretionary Shares

This ASX consumer staples stock is tipped to rise 23%: Expert

| Aaron Bell

This stock is set to rise.

Read more »

A young man wearing a black and white striped t-shirt looks surprised.
Consumer Staples & Discretionary Shares

Which ASX CEO stands to make $50 million over the next 5 years, or nothing?

| Cameron England

This e-commerce boss is backing his ability to drive returns.

Read more »

A man in a suit face palms at the downturn happening with shares today.
Consumer Staples & Discretionary Shares

Where does it end? Corporate Travel hit with another blow after crashing 85%

| Aaron Teboneras

Investors have another issue to weigh after last week’s collapse.

Read more »

A woman sits at her home computer with baby on her lap, and the winning ticket in her hand.
Consumer Staples & Discretionary Shares

Bubs shares just rocketed 40%. Here's the news investors were waiting for

| Aaron Teboneras

This ASX stock is soaring after clearing a major hurdle.

Read more »