PointsBet reports A$112.7m H1 revenue, down 16% year on year

For the six months ending 30 September — the opening half of its 2027 financial year — PointsBet booked revenue of A$112.7m, a 16% drop from the A$134.9m recorded a year before. Normalised EBITDA swung to a loss of $6.9m from a positive $2.9m, matching the preliminary numbers the company had flagged earlier in October.

Net win for the half was 17% lower year on year at $122.1m. Sports betting contributed $107m, down 18%, and iGaming $15.2m, compared with $15.3m a year earlier. The cash active client base rose 6% to 310,058, with growth in Australia and Canada, while total marketing expenditure also rose 6% to $33.1m.

In its home market, sports betting revenue dropped 19% to $91.8m, while net win there declined 18% to $101.2m as handle shrank 14% to $1.03bn. Even so, the Australian cash active client count grew 2% to 237,265. According to PointsBet, its most valuable customers posted double-digit falls in both turnover and revenue across the period, which the operator linked to "proactive" compliance measures it had earlier named as a drag on Australian trading. Promotions took a larger share of gross win, at 27.9% versus 24.4% a year before, and that share climbed to 32.8% across August and September.

Canadian iGaming and sports betting revenue combined came to $20.9m in the half, 6% below last year, with net win for the segment also 6% lower at $20.9m; cash active clients there climbed 18% to 72,793. iGaming net win held steady at $15.2m as handle grew 10%, and iGaming gross win was little changed at $17.3m. Sports betting was weaker: net win slipped to $5.7m from $7.2m and handle dropped 38%, while gross win went to $8.8m from $9.5m and margin strengthened to 10.6% from 7.9%. PointsBet put the turnover fall down to churn among a handful of high-staking customers in Q1, adding that better margins cushioned part of the hit.

According to the operator, it was able to put money back into winning new customers as the FIFA World Cup and NFL seasons approached. It also pointed to the Canadian rollout of its Bede casino platform, saying the technology gives it more room to shape content, player engagement and retention. Next on its agenda is Alberta, where it aims to go live in 2026 pending regulatory sign-off; that province will be Canada's second regulated iGaming market.

Company-wide gross profit came in at $57.1m, a 15% decline year on year. Australia contributed $46.9m, down 17%, and Canada's $10.1m, up 6%, recovered only part of that shortfall. Marketing spend across the group rose 6% to $33.1m, whereas other operating costs were trimmed 6% to $30.8m.

These figures cover what PointsBet described as its new-look financial year. To line up with MIXI Australia, its parent, the operator moved its year-end date from 30 June to 31 March. MIXI Australia, part of MIXI Inc, took a 66.4% controlling interest in PointsBet in September 2025.

Separately, October brought confirmation that the Alcohol and Gaming Commission of Ontario (AGCO) had shortened the suspension it proposed for PointsBet Canada's provincial website, taking it from five days down to two. The regulator had announced in February that it intended to suspend PointsBet's licence over a failure to flag suspicious bets, starting with a five-day website suspension; that penalty was later halved under an arrangement with the operator.