PointsBet saw turnover and revenue for the first half of its 2020-21 fiscal year grow rapidly, though high advertising spend and R&D investment hit its bottom line.
The operator also revealed that its January figures suggest it is on course to shatter its previous quarterly revenue records, thanks to improved US margins.
For the first half of the year, PointsBet’s turnover came to AUD$1.89bn (£1.06bn/€1.19bn/$1.45bn), up 254.5% from 2019–20. Australia made up the bulk of this total, contributing $1.07bn, a 206.6% increase. US turnover grew 335.1% to $819.0m.
The operator’s gross win margin – before accounting for promotions – came to 8.9%. This resulted in gross revenue of $153.8m, a year-on-year improvement of more than 460%.
The vast majority of this total came from Australia, which contributed $136.0m, a 448.4% rise.
In the US, gross win came to $17.7m, but this was still up 580.7% from the year before, as PointsBet expanded into Indiana, Illinois and Colorado during the 2020 calendar year.