PointsBet Reaps Rewards of Canadian iGaming Push

PointsBet Reaps Rewards of Canadian iGaming Push

For the nine months that ended on March 31, PointsBet recorded overall group revenue of A$186.6 million (USD $133.4 million), which was lower than A$188.4 million ($134.7 million) for the same period last year. However, the company's Canada operations showed greater growth.

1% Reduction in Group Income
For the first nine months of FY26, PointsBet reported a 6% year-over-year dip in gross profit, from A$99.9 million (USD $71.4 million) in the previous similar period (PCP) to A$93.6 million (USD $66.9 million).

In order to enable consolidated financial reporting starting on October 1, 2025, the company decided to harmonize with parent company MIXI by shifting its financial year-end from June 30 to March 31.

The total number of cash-active clients increased by just 1% to 298,100. A significant 9% increase in Canadian active clients counteracted the 1% fall in the Australian user base.

PointsBet was able to reduce its overhead on the balance sheet. Operating expenses decreased from A$48.6 million (USD $34.7 million) to A$45.2 million (USD $32.3 million) over the course of nine months, while marketing spending decreased from A$50.2 million (USD $35.9 million) to A$49.2 million (USD $35.1 million).

The company's EBITDA fell 167% into negative territory in spite of such cost-cutting measures, going from a profit to a loss of A$0.8 million (USD $572,600).

A boardroom struggle between MIXI Australia and Betr for ownership of Australia-based PointsBet unfolded in the media for months last year, with back-and-forth bids and counteroffers. MIXI Australia completed its acquisition of PointsBet in September, obtaining 66.43% of the company's shares and completing its majority stake.

With revenue falling 4% to A$152 million (USD $108.7 million) from A$157.9 million (USD $112.9 million) in the previous period, PointsBet's Australian branch reported worse results. Net win fell 4% to A$167.3 million (USD $119.6 million), matching the reduction in revenue, but the sports betting gross win margin remained stable at 13.3%.

Results for Canada

In Canada, internet casinos were the main source of funding for the bus.

Canada's total net gain increased by 14% to A$34.7 million (USD $24.8 million), while revenue increased by 13% to A$34.6 million (USD $24.7 million). However, the net win from gaming increased by 28% to A$ 23.6 million (USD $16.9 million), with slots being the main contributor.

The business attributed the 39% decline in sports betting handling to lower VIP play and greater gross win margins, which reduced reinvestment, to A$905.6 million (USD $115.5 million) PCP.

Brooke Hilton, Head of Casino at PointsBet Canada, discussed how Canada has developed into a casino-first marketplace in an interview with Casino.org in March.

“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.”

Launch in July in Alberta

When the Ontario-regulated market launched on April 4, 2022, PointsBet Canada was the first licensed operator. Additionally, the business is listed among the 28 igaming operators on the Alberta Gaming, Liquor & Cannabis list that have either obtained a license to begin operations in Alberta when that market launches on July 13 or are in the process of doing so.