Baker McKenzie advised PointsBet Holdings Limited (ASX:PBH) on its transformational US media partnership with NBCUniversal Media, LLC.

Baker McKenzie's New York office led the work on the US media partnership. Under the 5-year, USD 393 million arrangement with NBCUniversal, PointsBet will make media buys across certain of NBCUniversal's digital and linear media platforms and have certain exclusive rights to promote its services through agreed pre-game, post-game and in-game promotional enhancements and integrations in NBCUniversal's broadcasting and digital platforms.

Baker McKenzie's Sydney office spearheaded work related to NBCUniversal's 4.9% strategic equity stake in PointsBet. This initial shareholding coupled with additional options which, upon exercise, would give NBCUniversal a total shareholding of 27%. The value of the securities is being used to offset PointsBet's payment obligations under the media arrangement and will reduce the overall cash commitment across the five-year term.

PointsBet Holdings' Group General Counsel, Andrew Hensher, stated: "Given the importance of this landmark partnership for our growing business, it was comforting to know we were well supported by a leading global law firm (Baker McKenzie) - across multiple jurisdictions - to deliver what was a truly transformative outcome."

Baker McKenzie's Sydney based partner, Lance Sacks, who led the equity and M&A deal component of the transaction, stated: "We are pleased to have assisted PointsBet in securing this strategic media partnership with such a prominent US media brand. The seamless collaboration between the Australian and US teams allowed us to successfully deliver a positive outcome, in what is a key milestone for the PointsBet business."

When asked, exactly how significant this partnership is for PointsBet, New York-based partner, Mark Mandel, who led the media deal, commented: "This is a transformational partnership with one of America's most iconic media brands that is intended to accelerate growth in the United States. The significance of this deal cannot be understated."

PointsBet is an ASX listed corporate bookmaker with operations in Australia and the United States. PointsBet has developed a scalable cloud-based wagering platform through which it offers its clients innovative sports and racing wagering products. PointsBet’s product offering includes Fixed Odds Sports, Fixed Odds Racing, and PointsBetting.

NBCUniversal is one of the largest and most respected national media networks in the United States. The network has the largest sports audience of any US media company, with over 184 million viewers, which covers 85% of the US sports betting viewership. The network is also home to some of the biggest events in sports.

On the equity sale to NBCUniversal, PointsBet was advised by the Sydney Baker McKenzie team of Lance Sacks, Antony Rumboll and Eric Li. Mark Mandel and Michelle Heisner in Baker McKenzie's New York office led advice to PointsBet on the media deal along with Andrea Tovar (gaming regulatory) from the San Francisco Baker McKenzie office and Pamela Church and Josh Wolkoff (intellectual property) from the New York Baker McKenzie office.

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