Spurred by growth in Canada, sports betting and iGaming operator PointsBet reported Thursday a 4% year-over-year net win increase during the first half of the 2026 fiscal year.
Key Takeaways
- Australian-based gaming operator’s year-over-year Ontario revenue grew by 35%.
- iGaming gross revenue in the province was up 60%.
- PointsBet saw operating costs rise 7.6% during H1.
Ontario, currently the only active regulated gaming province in Canada, helped the Australian-based company generate a 35% year-over-year revenue spike and AU$24.4 million of its total revenue of $139.9 million during the six months ending Dec. 31, 2025.
PointsBet Canada’s first-half handle exceeded $700 million, with iGaming’s $608.5 million in wagers producing 14% more than the previous H1 FY.
Canadian bettors wagered $109.2 million, which was down 35% year-over-year due to what PointsBet called “lower VIP play” and strong player win margins that reduced reinvestment. Still, sports betting in Ontario generated a 10.2% hold for a gross win of $11.2 million.
iGaming gross profits soared 60% year-over-year to $19.3 million, and PointsBet reported a net win of $17.2 million from the operator’s only online casino segment.
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Ups and downs
Across both segments, PointsBet’s gross profit of $64.2 million was down 1% year-over-year, with sales costs rising 9.6% to $65.1 million. Normalized EBITDA was up a slight 2%.
Operating costs of $76.3 million were up 7.6% year-over-year. Including all other costs, PointsBet reported a $22.2-million net loss, down from a $17.3 million loss during H1 FY2025.
In just Australia, PointsBet reported a sports betting gross win of $156.1 million from a $1.19-billion handle, which was up about 4% year-over-year. The 13.1% gross hold was slightly less than the previous H1’s 13.4% win rate.
The segment’s net revenue of $115.1 million dipped 1% year-over-year, with gross profit also falling 6% to $52.3 million. Statutory Segment EBITDA was down 34%. PointsBet said the horse racing handle was “actively suppressed” by the strengthening of compliance standards.
Company changes
The operator said an upgraded iGaming platform is coming in the first half of this calendar year in Ontario, where PointsBet is appealing recent sanctions from regulators over the Jontay Porter betting scheme. PointsBet has already begun registration in Alberta, which will soon become the second province in Canada to offer regulated sports betting and iGaming.
During the first half of fiscal-year 2026, Japanese entertainment company MIXI completed a majority acquisition transaction, taking over 66.4% of PointsBet.
The gaming operator called the migration “successful” and said MIXI’s representation on the PointsBet board provides “deep expertise in digital entertainment and online platforms, legal and compliance, and M&A/post merger integration.”
