PointsBet has announced a drop of 16% in revenues compared to the previous year for the first half of its FY2027, mainly due to poor results in Australia’s Sports betting operations.
The revenue for the first half of FY2027 from April to September 2026 stands at A$112.7 million as compared to A$134.9 million in the previous year. The normalized EBITDA has also shown a similar trend moving down from profit of A$2.9 million to a loss of A$6.9 million.
The net win, which is defined as stakes received less total winnings paid out, experienced a drop of 17% to A$122.1 million. The sports betting operations brought in A$107 million reflecting a decline of 18%, while iGaming operations showed a slight drop from A$15.3 million to A$15.2 million in net win.
Despite the drop in revenues, the company had an increase in its cash active customers by 6% to 310,058 in both Australia and Canada. The company on the other hand spent 6% more amounting to A$33.1 million on marketing. Australia continued to be the highest earning region for pointsBet over the first half of the year although the sports betting revenue in Australia was down 19% on a year-on-year basis at A$91.8 million. Sports betting net win declined 18% to A$101.2m, while turnover (handle) dropped 14% to A$1.03bn. The number of cash active clients increased slightly, rising 2% to 237,265.
PointsBet said turnover and revenue among its highest-value customers continued to fall by double digits. The company linked this decline to proactive compliance measures targeting this customer group. Promotional spending also increased. Promotions accounted for 27.9% of gross win during H1, compared with 24.4% in the same period last year. The figure rose further to 32.8% in August and September.
Canada iGaming growth fails to offset betting decline
Despite an 18% increase in cash clients to 72,793, PointsBet experienced a drop in revenue from sports betting and iGaming in Canada, hitting an A$20.9m decrease of 6% in terms of revenue.
The net win of the iGaming aspect stayed the same at A$15.2m, but the turnover rose by 10%. Yet, the net win from sports betting decreased from A$7.2m to A$5.7m, with turnover falling by 38%. PointsBet explained the downturn by saying that they lost a lot of big-spending clients in the first quarter.
The operator also mentioned the initiation of its Bede casino platform and announced its intent to expand into Alberta by 2026, pending regulatory approval.
PointsBet reports a 15% decline of their gross profit
PointsBet’s gross profit has fallen by 15% year-on-year from A$57.1m. They also experienced a decline in the Australian gross from their A$46.9m, while Canada saw a slight increase in gross profit from A$10.1m going up by 6%.
The marketing expenses increased by 6% and reached A$33.1m while the operating expenses declined by 6% to A$30.8m.
This is the first report from PointsBet under their amended financial year end date of March 31, which was previously conducted on June 30. The reason behind that is the intention to unite the fiscal year end with that of parent company MIXI Australia that purchased 66.4% controlling stake of PointsBet on September 2025.
On the other hand, the AGCO, Ontario’s gambling regulator, has cut the 5-day suspension of PointsBet Canada to 2 days because PointsBet failed to stop suspicious bets related to Jontay Porter’s incident.
