Online betting guru sells Byron Bay home for likely loss

Online betting guru Andrew Fahey, the co-founder of PointsBet has taken a significant loss on his side project.

Andrew Fahey, the PointsBet cloud-based wagering platform co-founder, and his partner Katrina Luland have secured the sale of their two Bryon properties.

Their Myocum retreat, Las Palmas, listed with a $9m hopes in 2023 has finally been sold. Myocum, a small town 16km northwest of Byron Bay, in the foothills of the Nightcap Mountain Ranges, saw a record price when Fahey paid $8.2m in 2021.

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PointsBet founder Andrew Fahey and wife Katrina Luland have sold at Myocum.

There has no sale price reveal of what the online betting entrepreneur secured earlier this month for the retreat, but the recent guidance had been considerably lower for the five bedroom, three bathroom home on 2.4-hectares.

The 2020 house came with mid-century influenced design inspired by architect Robin Boyd’s iconic Fenner House when crafted by DUO Architects in association with Davis Architects.,

It was initially listed in 2023 by Fahey after the couple secured a beach shack across the road from Clarkes Beach in Byron for $5.4m.

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One of the home’s five bedrooms.

It last sold for $8.2m.

You can bet this is a great place to spend summer.

The Lighthouse Road cottage onsold last month for $5.85m.

Andrew Fahey co-founded PointsBet with brother Nick and Sam Swanell in 2015.

The ASX-listed bookmaker remains in play with suitor Japanese entertainment giant Mixi.

SYDNEY, AUSTRALIA – AUGUST 18: Knights players react during the round 24 NRL match between Cronulla Sharks and Newcastle Knights at PointsBet Stadium, on August 18, 2024, in Sydney, Australia. (Photo by Brendon Thorne/Getty Images)

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