PointsBet has upgraded its financial guidance and now expects a narrowed 2024 loss, owing to “continued strong year-to-date trading” in H2 FY24.
The gambling operator added that “increased operational efficiency and productivity” have factored into fresh guidance of a normalised EBITDA loss of between AU$4m and $6m, up from a range of $9m and $14m.
PointsBet’s managing director and group CEO Sam Swanell said: “Today’s guidance upgrade is a result of the company’s continued strong trading performance together with improved efficiency and productivity.
“It is particularly notable to see that the company has been able to continue to deliver such impressive results, whilst simultaneously undertaking a complex technical and operational migration, separation, and re-organisation, with the recent completion of the sale of the US business. We continue to invest for further growth, in particular in our core technology and product capabilities and our outsized marketing investment.
“This is driving our market share growth and setting the Company up for further success in FY25 and beyond.”
