Australia-based PointsBet announced its Q2 FY25 results Thursday, maintaining a total net win (sports betting, iGaming) of $69.9 million, unchanged from same time last year. However, it did gain a modest 7% increase from Q1 FY25.
Net win sports betting ticked slightly upward to $63.6 million from $63.5 million (Q2 FY24) and iGaming dipped downward to $6.3 million from $6.4 million (Q2 FY24).
The sportsbook, after exiting from the U.S. sports betting market in 2024, focused its North American wagering hopes on Canada. As U.S. operators also experienced, Canadian customer winnings (online slots, NFL wagering) partially contributed to the company's $3.9 million (AUS) in negatively impacted earnings.
“Q2 group net win was negatively impacted by circa $3.9 million, due to customer-friendly results in Canada across NFL and slots,” PointsBet CEO Sam Swanell said during Thursday’s conference call. “This NFL season has been the most customer-friendly, since the launch of regulated online sports betting. We have seen the highest rates of favorites winning in nearly 20 years.”
Key Improvements
The company did see key improvements from the first half of FY25. Total H1 FY25 revenue grew 6% to $124.4 million (AUS) and its EBITDA loss decreased by 75% year-on-year, drastically falling from $13.3 million (AUS) to $3.3 million (AUS), reporting an $8.2 million (AUS) EBITDA profit.
"These results have been delivered on the back of revenue growth and improvements in our gross profit efficiency. Our focus is not just delivering revenue, but ensuring it is earned efficiently," Swanell said.
Enjoying Covers content? Add us as a preferred source on your Google account
Casino side
On the casino side, PointsBet expanded its content portfolio and customer offerings, launching three new content providers in Q2, increasing games by 40%. The company now has over 600 games to choose from in their customer catalog.
Looking ahead to Q3-Q4 FY25, PointsBet looks to expand its capabilities with more promotion, while improving loyalty programs to attract and retain new customers.
