PointsBet reported revenue of A$112.7m ($78.5m) for the six months ended 30 September, down 16% from A$134.9m a year earlier, with normalised EBITDA swinging to a loss of A$6.9m ($4.8m) from a profit of A$2.9m in the prior-year period.
Group gross profit declined 15% to A$57.1m ($39.8m). Net win fell 17% to A$122.1m ($85.2m), driven by an 18% drop in sports betting net win to A$107m, while iGaming net win was broadly unchanged at A$15.2m.
The operator continued to add customers despite the revenue decline. Group cash active clients increased 6% to 310,058, while marketing costs rose 6% to A$33.1m.
Australian handle and high-value customers drag on results
The Australian business accounted for the bulk of the deterioration. Australian sports betting revenue fell 19% to A$91.8m and net win declined 18% to A$101.2m. Betting handle in the market dropped 14% to A$1.03bn and gross profit fell 17% to A$46.9m, even as Australian cash active clients edged up 2% to 237,265.
PointsBet said its high-value customer cohort recorded sustained double-digit declines in both turnover and revenue following proactive compliance measures. Competitive pressure also weighed on margins: promotions accounted for 27.9% of gross win in Australia, up from 24.4% a year earlier, and reached 32.8% in August and September.
Canada grows in local currency as casino leads
In Canada, revenue declined 6% in Australian dollar terms to A$20.9m but increased 3% in Canadian dollars. The company said the Australian dollar’s 10% appreciation against the Canadian dollar reduced reported revenue by more than A$2m.
Canadian cash active clients rose 18% to 72,793 and gross profit increased 6% to A$10.1m, equivalent to a 3% rise to about C$10m. The Canadian statutory segment EBITDA loss, however, widened 82% to C$6.7m ($4.79m).
Product performance in the market diverged sharply. Canadian iGaming handle increased 21% to C$592.9m and iGaming net win rose 9% to C$15m from C$13.7m. Sports betting handle fell 32% to C$83.4m and sports net win declined to A$5.7m from A$7.2m despite improved margins. PointsBet attributed some of the Canadian softness to churn among a small number of high-staking customers during the first quarter.
The casino tilt is now pronounced: online casino accounted for almost 88% of PointsBet’s Ontario handle and 73% of its gaming revenue.
Alberta launch targeted for 2026
PointsBet is targeting a launch of its sportsbook and casino products in Alberta before the end of 2026, subject to regulatory approvals. Alberta became Canada’s second regulated iGaming market earlier this year. “The Alberta market expands our addressable market and leverages our existing platform and content providers while extending our strong customer experience to another Canadian jurisdiction,” the company said.
Ahead of that expansion, PointsBet has migrated its Canadian casino operations to the Bede Gaming platform, adding content and player-engagement features and preparing for a planned loyalty programme. PointsBet Canada Chief Executive Scott Vanderwel said the migration “positions us strongly in Ontario and prepares us for future growth across additional Canadian markets.”
Reporting under new ownership
The results are the first full half reported since MIXI Australia acquired a 66.4% stake in PointsBet in September 2025. PointsBet has also changed its financial year-end from 30 June to 31 March to align with its parent company.
The numbers were reported by Yogonet International.
This article was produced with AI assistance and reviewed under the GamblingZine editorial verification process.
Sources
- PointsBet posts 16% first-half revenue decline as Australian betting weakens — Independent reporting (published 2026-11-03)
- www.yogonet.com — Authoritative secondary source
- www.yogonet.com — Authoritative secondary source
- www.yogonet.com — Authoritative secondary source
Reporting verified against the sources above; retrieval timestamps are preserved in the editorial record.