PointsBet says group revenues improved 28 per cent year-on-year for the first half of the current financial year, but net loss also jumped 22 per cent.
The US and Canada markets led the way with PointsBet’s growth, with the former delivering 81 per cent net win growth.
And igaming represented 31 per cent of all North American net win for the group in its latest results, while live betting accounted for 56 per cent. Overall igaming net win for the group was up 213 per cent to $23.7m, up from $7.6m a year ago.
PointsBet added, though, that net loss after tax grew to AU$178.2m and cash balance is down 25 per cent to £387.2m. The group said its EBIDTA loss for the second half of the financial year is expected to be between $77m and $82m.
PointsBet managing director and CEO, Sam Swanell, said the results “show our North American strategy is delivering.”
He added: “The third-party strategic interest shown in our company demonstrates we have built a very valuable business. This gives us significant optionality around how we take the business forward to maximise value for our shareholders.”
In Australia, sports betting handle/turnover for the first half of the current financial year increased by 14 per cent, but net win was down two per cent.
The group’s overall sports betting turnover/handle increased 40 per cent to $3.2bn, but gross win for sports betting grew by only six per cent to $267m.
