Amid reports in its home nation of Australia that PointsBet could sell up, the company categorically denied rumours of a potential takeover on Monday.

Over the weekend, a report from The Australian suggested that the online gaming and betting operators could be the subject of an “imminent” AU$300 million ($275 million CAD) takeover from an overseas party. The report claimed that PointsBet had held discussions with multiple potential suitors, including at least one company in Asia.

However, referencing the article in a public statement, PointsBet dismissed the talk.

“PointsBet refers to recent media speculation, first published in The Australian on Friday, 8 November 2024, regarding a potential transaction,” read the statement. “Generally, PointsBet does not comment on rumour or speculation. However, the company confirms that it is not in discussions as suggested in the article.

“The company will keep the market updated in accordance with its continuous disclosure obligation under ASX Listing Rule 3.1.”

PointsBet focusing on growth at home and in Canada after US sale

After PointsBet sold its U.S. operations to Fanatics last June, the company has narrowed its focus to Canada, as well as its home market of Australia.

In a quarterly update on Oct. 31, the operator said its Canadian concentration is paying off as it reported big jumps in online sports betting handle and net win in Q3.

In the first quarter of the Australian fiscal year (FYQ2 2024 in Canada) from June 1 to Sept. 30, PointsBet Canada reported its sports betting handle rose 57% year over year to reach $63.5 million CAD. Sports betting net win grew even more, up 77% to $3.8 million. iGaming net win climbed 50% to $4.2 million.

Overall, total net win across both verticals in Canada grew 62% to just below $8 million. PointsBet noted that was above both the general level of Ontario market growth and above the company’s business-wide net win growth of 12%.

The company is also expanding its casino platform in Canada, having increased game content by 50% and adding offerings from Pragmatic Play, Relax Gaming and PlayAGS in recent months.