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
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.
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

One girl leapfrogs over her friend's back.
Earnings Results

Premier Investments shares jump 8% on results and big interim dividend

| James Mickleboro

Peter Alexander is performing but Smiggle is struggling.

Read more »

A happy young couple celebrate a win by jumping high above their new sofa.
Consumer Staples & Discretionary Shares

Which fast-growing Aussie furniture brand is about to list on the ASX?

| Cameron England

This breakout brand is already profitable.

Read more »

A young man sits at his desk reading a piece of paper with a laptop open.
Consumer Staples & Discretionary Shares

Top broker says ASX this consumer staples stock could rise nearly 40%

| Aaron Bell

Here's Bell Potter's updated guidance.

Read more »

Woman chooses vegetables for dinner, smiling and looking at camera.
Consumer Staples & Discretionary Shares

Should I invest $5,000 in Coles shares now?

| Grace Alvino

This ASX supermarket stock may suit a $5,000 investment.

Read more »

A little girl holds broccoli over her eyes with a big happy smile.
Consumer Staples & Discretionary Shares

Woolworths shares are storming ahead of Coles this year: Are the supermarket giants a buy, sell, or hold?

| Samantha Menzies

Here's the update on the rivalry between Woolworths and Coles.

Read more »

Three women laughing and enjoying their gambling winnings while sitting at a poker machine.
Consumer Staples & Discretionary Shares

Is this $28 billion ASX share a bargain after reaching new lows?

| Marc Van Dinther

Brokers view the sell-off as overdone, citing strong fundamentals and growth potential.

Read more »

A row of Rivians cars.
Consumer Staples & Discretionary Shares

Is this red-hot ASX 200 stock a buy after tumbling 18%?

| Marc Van Dinther

Broker sentiment remains positive, but price targets have been trimmed.

Read more »

Pieces of fried chicken.
Consumer Staples & Discretionary Shares

KFC owner Collins Foods shares sliding today on class action news

| Bernd Struben

Collins Foods shares are slipping on $9 million legal news.

Read more »