DraftKings Inc. DKNG, +1.74% announced Friday that it had submitted a bid for the U.S. operation of Australia’s PointsBet, for $195,000,000 in cash. This is a 30% increase over the existing agreement between the two companies for the sale. In May, PointsBet announced that it had agreed with Fanatics Inc. to sell its business for $150 million. In a press release, DraftKing CEO Jason Robins said that while the company will continue to work to improve its efficiency and drive organic revenue growth, it would also seek to capitalize on attractive opportunities with attractive valuations. This is what happened to PointsBet’s U.S. operations. Robins said that the company expects to have a positive adjusted EBTIDA by 2024, and that a deal with PointsBet may increase this metric as early as 2025. PointsBet, an online sportsbook, launched in the U.S.A. in 2019. It operates in 15 states including New Jersey. Iowa, Illinois, and Colorado. DraftKings’ stock is down 0.9% in premarket, but it has gained 118% year-to-date, while the S&P500 SPX +1.22% is up 15%.