PointsBet full-year turnover rises 228%
Pointsbet Holdings delivered triple-digit top-line growth with betting turnover up 228% to $3,781.4 million for the fiscal year ended 30 June.
Active Australian clients up 117% to 196,585. Active US clients up 661% to 159,32. Revenue increased by 158% to $194.7 million. Net loss was $164.3 million.
Sales and marketing expense surged 382% to $170.7 million. This includes a refreshed brand campaign featuring NBA MVP Shaquille O’Neal. Over in the United States. Management explained that this reflects an increase in the number of operating jurisdictions. Its US marketing expense is expected to continue to increase as its footprint expands.
Pointsbet said: “PointsBet has put together all the pieces of the puzzle needed to take advantage of the significant North American opportunity, with a continued focus on first class execution and building upon the growth and success achieved to date.”