Here’s why the PointsBet (ASX:PBH) share price is surging 6% higher

The PointsBet Holdings Ltd (ASX: PBH) share price is surging higher on Wednesday morning.

At the time of writing, the sports betting company’s shares are up 6% to $16.84.

Why is the PointsBet share price surging higher?

Investors have been buying PointsBet shares following the announcement of another major agreement.

According to the release, PointsBet has signed a multi-year strategic partnership with the National Hockey League (NHL). This partnership sees the NHL name PointsBet as an “Official Sports Betting Partner.”

The agreement between the two companies spans across both the United States and Australia. As part of the partnership, PointsBet receives rights to use NHL marks and logos, as well as a variety of NHL…