Gambling operator PointsBet has brokered an agreement to purchase pari-mutuel advance deposit wagering (ADW) operator Premier Turf Club for $2.9m (£2.1m/€2.4m).
The transaction remains subject to certain customary completion conditions, but PointsBet said it expects the deal to go through before the end of the month.
Licensed by the Oregon Racing Commission, Premier Turf Club has been active for more than 13 years through its BetPTC.com website.
PointsBet, which agreed the deal via its PointsBet USA subsidiary, said Premier Turf Club’s industry expertise and relationships, customer-focused operations and reputation will be of immediate value to the business as it seeks to expand its presence in the US.
“The combination of Premier Turf Club’s excellence in the space with PointsBet’s mature market Australian racing expertise favourable positions us as we prepare to enter the US horseracing market,” PointsBet USA chief executive Johnny Aitken said.
