Australian based sports betting operator, PointsBet, and NBC Sports have agreed to a huge deal worth nearly $500 million. This deal will make PointsBet the official sports betting partner for NBC Sports, and all of the programs that NBC Sports owns and operates.
NBC Sports will acquire a 4.9 percent stake in PointsBet, and they will be paid for sending new customers to the sports betting operator. PointsBet will also give NBC Sports the option to acquire 25 percent of the company when the deal runs out in five years.
Not only will PointsBet become the official betting partner for the main NBC Sports, but they will also have access to The Golf Channel, and the regional sports networks that are offered throughout the country.
Sportico was the first to publish this report, and the two companies had yet to officially announce the full terms of the deal by Thursday night. PointsBet is set to earn plenty of recognition during the upcoming 2020 NFL season as NBC is a major broadcaster for the league.
PointsBet is expected to continue to grow throughout the United States due to this deal, and it should catapult them to the top of the industry.
Stock Prices Already on the Rise
News of this deal spread quickly, and it had an immediate impact on the stock prices for PointsBet in the United States. Stock prices rose by more than 5 percent on Thursday morning, and they are expected to continue to grow as more details are announced.
The stock market in Sydney, Australia, had not opened on Friday morning at the time of this writing, but those prices are expected to take off.
Deal Continues Recent Trend
This deal between PointsBet and NBC Sports continues the recent trend of multimedia companies partnering with sports betting operators. Penn National Gaming and Barstool Sports are credited with starting this trend when a massive deal was approved earlier this year.
Penn National acquired a 36 percent stake in Barstool Sports, but they have an option to own a larger portion of the company. The two companies are now set to launch a sportsbook in a handful of states.
William Hill was also named the official sports betting partner of CBS Sports, and the international bookmaker will be featured on sports broadcasts for the media giant.
PointsBet Making Huge Moves
PointsBet has had a busy month of August, and they have positioned themselves to become one of the biggest operators in the industry. This new deal with NBC Sports will give them exposure on television, but they have also formed partnerships with major teams and leagues.
Before launching their sportsbook in Colorado, PointsBet has already partnered with the Denver Broncos of the NFL, the Colorado Avalanche of the NHL, and the Colorado Avalanche of the National Lacrosse League.
Along with these deals, PointsBet also inked a deal with the PGA Tour to become their official sports betting partner.