PointsBet full-year revenue rises 52%

Finance News

PointsBet Holdings share price is in focus this morning after the bookmaker posted its full year earnings.

Revenue came in at $296.5 million 52% higher than that of the prior corresponding period. It posted a $267 million after-tax loss for FY22 while its earnings before interest, tax, depreciation, and amortisation (EBITDA) sank to a $243.6 million loss.

PointsBet expanded its presence in the US and rolled out sports betting operations in four new US states; West Virginia, Virginia, New York, and Pennsylvania. It also launched iGaming operations in New Jersey, West Virginia, and Pennsylvania, and sports betting and iGaming operations in Ontario, Canada.

Pointsbet chair Brett Paton and managing director and CEO Sam Swanell said: It has been another successful year for PointsBet. During the year, the company continued to capitalise on its expanding US presence … We currently have live online sportsbook operations in 10 US states plus Ontario, Canada and are live with iGaming in 4 states plus Ontario, Canada.

In SIG Sports we have found a strategic long-term partner who believes in PointsBet’ ability to continue to grow and compete in the North American sports betting market. Susquehanna has both the analytical capability and the capital to help PointsBet realise this potential.