PointsBet First-Half Revenue Falls 16 Percent as Australian Sports Betting Net Win Declines 18 Percent

PointsBet reported a 16% decline in first-half revenue as weaker sports betting results in Australia weighed on group performance. Revenue for the six months ended Sept. 30 fell to A$112.7 million ($78.5 million) from A$134.9 million a year earlier, according to reporting by Yogonet International.

Normalised EBITDA swung to a loss of A$6.9 million ($4.8 million) from a profit of A$2.9 million. Gross profit declined 15% to A$57.1 million ($39.8 million). Net win fell 17% to A$122.1 million ($85.2 million).

Australian Sports Betting Pressures

Australian sports betting revenue fell 19% to A$91.8 million, while net win declined 18% to A$101.2 million. Betting handle dropped 14% to A$1.03 billion, although cash active clients increased 2% to 237,265.

The operator said its high-value customer cohort recorded sustained double-digit declines in turnover and revenue following proactive compliance measures. Promotions accounted for 27.9% of gross win, up from 24.4% a year earlier. Gross profit in Australia fell 17% to A$46.9 million.

Canadian Expansion and Ontario Regulatory Settlement

Revenue in Canada declined 6% in Australian dollar terms to A$20.9 million but increased 3% in Canadian dollars. The Australian dollar's 10% appreciation against the Canadian dollar reduced reported revenue by more than A$2 million. Cash active clients in Canada rose 18% to 72,793.

Canadian iGaming handle increased 21% to C$592.9 million ($423.48 million), while net win rose 9% to C$15 million from C$13.7 million. PointsBet reached an agreement with the Alcohol and Gaming Commission of Ontario over alleged monitoring and reporting failures involving suspicious bets on former Toronto Raptors player Jontay Porter. The regulator agreed to reduce a proposed five-day suspension to two days and had described the alleged conduct as a “systemic failure”.

PointsBet is targeting a launch of its sportsbook and casino products in Alberta before the end of 2026, subject to regulatory approvals. “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 operator said. Scott Vanderwel, Chief Executive of PointsBet Canada, said the move “positions us strongly in Ontario and prepares us for future growth across additional Canadian markets.”

The regulatory resolution and platform migration to Bede Gaming limit suspension exposure and support entry into Alberta as Canada's second regulated iGaming market. This offers a structural offset to Australian softness but does not resolve high-value customer churn or the widened statutory EBITDA loss of C$6.7 million.