PointsBet Purchases Premier Turf Club
PointsBet steps up US activity with a deal to acquire Horse Racing’s Premier Turf Club
PointsBet has announced a deal that will strengthen its position in the U.S. horse racing betting market. The operator announced on Monday that it has agreed a deal to purchase Premier Turf Club (PTC), an Advance Deposit Wagering (ADW) company. The agreement comes as horse racing is in the spotlight due to the controversy surrounding the Kentucky Derby winner Medina Spirit and trainer Bob Baffert. It is a significant week in the horse racing world as it builds up to the second Triple Crown race, the Preakness Stakes, which will take place this weekend at Pimlico Race Course in Baltimore.
Premier Turf Club is licensed and regulated by the Oregon Racing Commission. PointsBet will become the third sports betting company to get involved with horse racing, joining TwinSpires (formerly BetAmerica), owned by Churchill Downs and FanDuel, a member of the BetFair and Flutter family that owns TVG.com.
TVG.com also runs and operates 4NJBets in New Jersey. The website is the only thoroughbred racing wagering platform where handicappers in the Garden State can register.
PointsBet USA CEO Johnny Aitken said they were “very pleased” to be joining forces with Premier Turf Club. He said the combination of Premier Turf Club’s “excellence” in the horse racing market along with PointsBet’s “mature market Australian racing expertise” will give them an excellent position as they prepare to enter the U.S. horse racing market. Aitken added that the acquisition “complements our in-house approach” while they continue to grow their premier product suite.
Premier Turf Club Join PointsBet
The deal will see a restructure of staff from Premier Turf Club to PointsBet. Notable moves include Premier Turf Club general manager Todd Bowker being named vice president of racing for PointsBet USA. Additionally, all employees from Premier Turf Club, which has been going for 13 years, will now join PointsBet.
Bowker said that his company had been “exploring options for how we might enter the sports betting market.” He added that they realized quickly that they wanted to join forces with a “highly regarded and experienced operator.”
Bowker added that “PointsBet’s history in racing in Australia made them an ideal choice.” He said that they are excited to join their team and are looking forward to offering “sports wagering to our customers in jurisdictions where legal.”
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