Potential takeover target PointsBet has reported $523 million in cash on hand, but must deliver a return on invested capital as the future of betting evolves.
Australia-based PointsBet Holdings Ltd. announced Tuesday that its wholly owned subsidiary had successfully launched mobile and online sports betting in the Empire State and had taken its first bet on Monday night. New York is now the ninth U.S. state in which PointsBet is operational, the company said.