PointsBet Records Excellent Revenue Growth In 2022 Fiscal Year

PointsBet, the powerful online bookmaker and casino operator from Australia, has released its results for the 2022 financial year and the numbers show excellent revenue growth and great gains on the United States market.

In the fourth quarter of the 2022 fiscal year, PointsBet recorded turnover of 1.30 billion Australian dollars, a figure which represents an increase of 32 percent compared to the final quarter of the previous year.

For the full fiscal year, turnover amounted to 5 billion Australian dollars, an increase of 32.3 percent compared to the 2021 fiscal year. The company’s business in Australia contributed 2.53 billion Australian dollars, while the growing presence on the United States market brought in 2.45 billion Australian dollars.

The company’s total net win for the year amounted to 309.4 million Australian dollars, with 289.1 million coming from sports betting and the remaining 20.3 million resulting from iGaming, including live casino operations.

The Australian market generated most of the net win figure, exactly 215.4 million Australian dollars, while the United States market generated the remaining 74.1 million Australian dollars.

The fourth quarter of the 2022 financial year was quite action-packed for PointsBet as the Australian operator received its license to operate on the newly-opened market in Ontario, Canada’s most populous province.

The market in Ontario opened on April 4 but PointsBet was only able to generate revenue of 200,000 dollars from there in the fourth quarter. Moreover, the operator was fined 30,000 Canadian dollars by the Alcohol and Gaming Commission of Ontario for allegedly breaching advertising standards.

Nevertheless, PointsBet managed to have a turnover of 16 million Australian dollars in Canada during the fourth quarter, a solid foundation for the months to come. For comparison, the turnover on the Australian market amounted to 598.6 Australian dollars during the last three months of the 2022 fiscal year.

Moreover, the company’s overall net win for the quarter amounted to 85.8 million Australian dollars, a figure which represented a massive increase of 41.1 percent year-on-year. Sports betting generated most of that result, 78.5 million Australian dollars to be precise, while iGaming produced the remaining 7.3 million Australian dollars.

SOURCE: “PointsBet posts strong end-of-year and Q4 results“ . Gambling Insider. July 29, 2022.