The PointsBet Holdings Ltd (ASX: PBH) share price is rising on Thursday morning.
At the time of writing, the sports betting company's shares are up 4% to $7.11.
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Why is the PointsBet share price rising?
The PointsBet share price is pushing higher today following the release of an update on its US operations.
According to the release, PointsBet has now launched online and mobile sports betting operations in Virginia.
Virginia marks the eighth operational state for PointsBet. This follows successful launches in New Jersey, Iowa, Indiana, Illinois, Colorado, Michigan, and West Virginia.
This launch was possible after the Virginia Lottery issued PointsBet, together with partner Colonial Downs, an official supplier license to offer online sports wagering in Virginia last month.
PointsBet's US CEO, Johnny Aitken, was delighted with the launch. He said: "We are thrilled to be launching in Virginia with our partner Colonial Downs. Virginian sports bettors will now have access to PointsBet's fast online sports betting product with the most betting options, including robust in-play capabilities."
PointsBet's brand ambassador and former NBA star, Allen Iverson, added: "I am excited to welcome PointsBet to my home state. Speed and agility always defined my game, and that is exactly what puts PointsBet above the rest."
What else?
The release notes that as the official and exclusive sports betting partner of NBC Sports, PointsBet will leverage the media giant's premium television and digital assets to promote the PointsBet brand in the state of Virginia across its local sports communities.
Furthermore, the company highlights that its sportsbook has already been integrated into NBC Sports Regional Networks, like NBC Sports Washington, appearing regularly on programming for the Washington Football Team, Wizards, and Capitals.
PointsBet's USA CMO Kyle Christensen commented: "Our partnership with NBC Sports has positioned us well as we enter the market. Viewers who have become familiar with the PointsBet brand through our odds integrations and expert analysis during television broadcasts can now truly experience what sets PointsBet apart."
