PointsBet Holdings Limited, Level 2, 165 Cremorne Street, Cremorne, VIC 3121 PointsBet Launches iGaming in New Jersey Announces Canadian CEO
July, 2021 - Melbourne, Australia - PointsBet Holdings Limited (ASX: PBH) today announced that its wholly owned subsidiary PointsBet New Jersey LLC (the “Company”) hasbeen authorised by the New Jersey Department of Gaming Enforcement (NJDGE) to commence iGaming operations and has launched its proprietary iGaming platform in that state.
The launch of iGaming operations in New Jersey follows PointsBet’s inaugural iGaming launch in Michigan on 5 May 2021.
iGaming revenues in the United States have grown exceptionally since the repeal of Professional and Amateur Sports Protection Act in May 2018. Across New Jersey, Pennsylvania, Michigan, and West Virginia (all states in which PointsBet has iGaming market access), iGaming revenues reached nearly US$900 million in the June 2021 quarter which if annualised would equate to greater than US$3.5 billion per annum.
New Jersey iGaming revenues in particular have grown at a CAGR of 25% from 2014 to 2018, with revenues having subsequently grown at 62% and 101% in 2019 and 2020 respectively.
Appointment of Scott Vanderwel as Chief Executive Officer, PointsBet Canada
PointsBet also announced today that it has appointed Scott Vanderwel as Chief Executive Officer for PointsBet Canada, effective 17 August 2021.
Vanderwel previously served as Senior Vice President for Rogers Communications, where he oversaw corporate strategy, operational improvement, and digital operations. Prior to his time with Rogers, Vanderwel led the Canadian practice for Monitor Group, a global business strategy consultancy, later acquired by Deloitte. Vanderwel’s appointment follows earlier senior hires for PointsBet’s distinct Canadian operation – including adding Nic Sulsky as Chief Commercial Officer and Chantal Cipriano as Vice President, Legal, Compliance & People – and is further evidence of PointsBet’s commitment to launching its market-leading products and services in Canada.
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