Warning: Undefined array key "post_type_share_twitter_account" in /var/www/vhosts/casinonewsblogger.com/public_html/wp-content/themes/cryptocurrency/vslmd/share/share.php on line 24
PointsBet reported lower revenue and a deeper loss for the nine months ended March 31, as growth in Canada partly offset softer trading in Australia. The Australia-based betting operator posted total group revenue of A$186.6 million ($134.4 million), compared with A$188.4 million ($135.6 million) in the prior corresponding period.
Total net win slipped 1% to A$202 million ($145.4 million), while gross profit fell 6% to A$93.6 million ($67.4 million) from A$99.9 million ($71.9 million).
The company recorded a statutory loss of A$26.6 million ($19.2 million) for the nine-month period, compared with an A$18.2 million ($13.1 million) loss in the previous full year. Basic loss per share widened to 7.7 cents from 5.5 cents. Normalized EBITDA moved to a loss of A$0.8 million ($576,000), compared with a profit of A$1.2 million ($864,000) a year earlier.
The shortened reporting period comes after a change in control. MIXI Australia Pty Ltd, a subsidiary of MIXI Inc., completed its takeover bid for PointsBet in September 2025 after a public contest with Betr, securing a 66.43% majority stake. PointsBet changed its financial year-end from June 30 to March 31 to align with MIXI, allowing its results to be consolidated into MIXI’s financial statements from October 1, 2025.
Australia remained PointsBet’s largest segment but carried the weaker result. Revenue fell 4% to A$152 million ($109.4 million) from A$157.9 million ($113.7 million), while statutory EBITDA declined 30% to A$14.2 million ($10.2 million). Australian sports betting turnover was largely flat at A$1.69 billion ($1.22 billion), and the gross win margin held at 13.3%, but net win fell 4% to A$167.3 million ($120.5 million).
PointsBet said racing turnover was soft, partly indicating tougher compliance settings and the effects of the National Self-Exclusion Register. It also said high-staking clients with higher-risk behaviors were concentrated in three-code racing. Tax, product fees, and GST weighed on Australian gross profit, totaling A$79.8 million ($57.5 million), or 47.7% of Australian net win.
Canada moved in the opposite direction. Revenue rose 13% to A$34.6 million ($24.9 million), while total net win climbed 14% to A$34.7 million ($25 million). The Canadian iGaming business drove the improvement, with iGaming net win rising 28% to A$23.6 million ($17 million), helped by higher turnover and stronger margins across core game categories, particularly slots.
Canadian sports betting turnover fell 39% to A$161.5 million ($116.3 million). PointsBet attributed the decline to lower VIP play and higher gross win margins, which reduced reinvestment.
In March, PointsBet Canada Head of Casino Brooke Hilton told Casino.org that Canada had developed into a casino-first marketplace.
“Everyone in this industry understands the need to evolve, innovate and challenge what is expected,” she said. “And so, over the past year, we’ve really been investing in the casino side of the technology, features, promotion, mechanics and things to that degree. So, we’re really going to elevate our product to be able to go after more casino-first players. That’s in line with what the market is telling us.”
PointsBet’s Ontario casino went live on Bede Gaming on April 28, adding promotions, a game list, and other product enhancements. PointsBet Canada had entered Ontario as a licensed operator when the province’s regulated market opened on April 4, 2022. The company has also begun the registration process in Alberta, where the market is expected to go live in the second half of this year.
PointsBet cut total operating expenses, including marketing, by A$4.4 million ($3.2 million). Marketing costs fell to A$49.2 million ($35.4 million), while other operating expenses declined to A$45.2 million ($32.5 million). Total cash-active clients rose 1% to 298,100, with a 1% decline in Australia offset by a 9% increase in Canada.
The group ended March with A$23 million ($16.6 million) in cash and cash equivalents, including A$18.3 million ($13.2 million) in client cash and A$4.7 million ($3.4 million) in corporate cash.
Operating cash outflow was A$6.5 million ($4.7 million), including A$6.7 million ($4.8 million) in one-off transaction and integration payments linked to the MIXI deal. PointsBet also reported an investing cash outflow of A$12.7 million ($9.1 million), including A$12.5 million ($9 million) for capitalized software development, and received A$3 million ($2.2 million) in borrowings from MIXI Australia.