Investors are betting on the Pointsbet share price today, it’s up 5%

a close up of a casino card dealer's hands shuffling a deck of cards at a professional gambling table with the eager faces of casino patrons in the background.

a close up of a casino card dealer's hands shuffling a deck of cards at a professional gambling table with the eager faces of casino patrons in the background.The Pointsbet Holdings Ltd (ASX: PBH) share price is currently up by more than 5%.

While that’s a substantial rise in just one session, it’s still down by more than 13% over the past month, so it’s recovering some of the lost ground.

The gains come as other businesses which are known for growth are also in the green. For example, the Xero Limited (ASX: XR) share price is up more than 1%, the REA Group Limited (ASX: REA) share price is up 2.7% and the Pilbara Minerals Ltd (ASX: PLS) share price is up 5%.

The company gave an update on its global leadership team earlier this week.

Pointsbet management team change

The company announced that executive director Mr Manjit Gombra, who was the President of product and technology, will transition to becoming a non-executive director.

Dr Jerry Bowskill is going to join the company as group chief technology officer on 18 July 2022, taking over from Mr Gombra-Singh.

Pointsbet said that Dr Bowskill is an experienced technology executive with a successful track record as a ‘C-level’ leader with a range of international regulated gaming and fintech organisations, from start-ups to public companies. Most recently, he was the executive director and chief technology officer at Capital International.

The company also announced that Mr Andrew Catterall will join the company as Australian CEO on 4 July 2022. He is the former CEO of Racing.com. He is looking to lead the business towards profitability at the earnings before interest, tax, depreciation and amortisation (EBITDA) level. Mr Catterall has a mandate to continue growth and seek “important strategic opportunities which can strengthen the business.”

The Pointsbet share price fell over 10% on the day of the announcement.

The post Investors are betting on the Pointsbet share price today, it’s up 5% appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Pointsbet Holdings Ltd and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Pointsbet Holdings Ltd and REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/3uNzYQ7

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