PointsBet records 16% revenue drop in H1 FY27

PointsBet reported a 16% year-on-year decline in revenue for the six months ended 30 September, with total revenue of A$112.7 million in H1 FY27 and a normalized EBITDA that moved from a A$2.9 million profit to a A$6.9 million loss. The company attributes the contraction mainly to weaker sports-betting operations in Australia and lower net wins and turnover across its key segments.

Half-year financial results

Revenue for the period to 30 September was A$112.7m, down from A$134.9m in the same period a year earlier. Total net win fell 17% year-on-year to A$122.1m, made up of A$107m from sports betting (an 18% decline) and A$15.2m from iGaming, which was broadly flat versus A$15.3m the prior year. Total marketing spend rose 6% to A$33.1m.

The financial calendar change, which shifts the year‑end from 30 June to 31 March to align with parent company MIXI Australia, is noted in the results presentation.

Performance in Australia

Australian sports-betting revenue declined 19% to A$91.8m. Net win from sports betting in the country fell 18% to A$101.2m, after a 14% drop in handle to A$1.03bn. Nonetheless, cash-active customers in Australia increased 2% to 237,265.

PointsBet said the revenue reduction was driven more by lower spend per user than by customer attrition, and attributed part of the decline to proactive compliance measures that affected its higher-value customer cohort, which experienced double-digit drops in turnover and revenue. Promotional intensity increased margin pressure: promotions represented 27.9% of gross win for the half, versus 24.4% previously, and reached 32.8% in August and September.

Canadian operations and platform rollouts

Combined iGaming and sports-betting revenue in Canada fell 6% to $20.9m, with net win also at $20.9m. However, Canadian iGaming net win remained at $15.2m with a 10% rise in handle in that segment. The cash-active customer base in Canada grew 18% to 72,793.

Canadian sports-betting net win decreased to $5.7m and handle fell 38%, although sports margins improved from 7.9% to 10.6%, which offset some of the impact. PointsBet said the sports turnover decline followed churn among a small group of high-staking customers during the first quarter and that it has re‑invested in acquisition ahead of major sports calendars.

The company deployed its new Bede casino platform in Canada to improve content flexibility and retention, and is preparing a launch planned for Alberta in 2026, subject to final regulatory approvals. The Bede deployment is part of its product strategy and links to its [casino](/casino) efforts in the market.

Group profitability and regulatory movements

Group gross profit fell 15% year-on-year to $57.1m. Gross profit in Australia declined 17% to $46.9m, while Canadian gross profit rose 6% to $10.1m. Other operating expenses were cut 6% to $30.8m.

In Ontario, the Alcohol and Gaming Commission of Ontario agreed to reduce a proposed website-suspension period for PointsBet Canada from five days to two days after discussions about historical supervisory reviews, a regulatory outcome that the company recorded in its results.

Customers and operating metrics

Global cash-active customers grew 6% to 310,058 worldwide, driven by customer acquisition in Australia and Canada. The report highlights a divergence between customer growth and falling revenue, with lower spend per customer offered as the principal operational explanation.

"The results are in line with the numbers flagged earlier this month," the company said in its results statement, confirming the figures for normalized EBITDA.

The presented data reflect a mix of compliance pressures, changes in higher-value customer behaviour and greater promotional intensity in recent months.