Australian sports betting and iGaming operator PointsBet has revised its FY2025 EBITDA guidance to a range of AU$11 million ($6.88 million) to AU$14 million ($8.76 million) after reporting stable revenue in the second quarter, despite a decline in its Canadian business.
For the three months ended December 31, PointsBet’s total net win stood at AU$69.9 million ($43.5 million), unchanged from the previous year’s Q2. A slight increase in sports betting net win (up 0.2% to AU$63.6 million) was offset by a 1.6% drop in iGaming net win to AU$6.3 million.
The Canadian market saw a 10.5% decline in total net win to AU$9.4 million, despite an increase in player spending. The drop was largely due to “customer-friendly results” in NFL betting and online slots, CEO Samuel Swanell said.
“Q2 group net win was negatively impacted by circa $3.9 million, due to customer-friendly results in Canada across NFL and slots,” Swanell said. “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.”
Within Canada, sports betting net win fell 22.5% to AU$3.1 million, while iGaming net win dropped 1.6% to AU$6.3 million, despite an almost 20% rise in player spending.
In contrast, PointsBet’s Australian business grew. Net win increased 1.7% to AU$60.5 million, even though player spending fell 34.4% to AU$591.5 million. The net win margin improved to 10.2% from 6.6%, reflecting more profitable betting outcomes.
For the first half of FY2025, total net win rose 5.5% to AU$135.1 million, driven by:
• Sports betting net win up 4.8% to AU$124.3 million
• iGaming net win up 14.7% to AU$10.9 million
• Australia’s total net win up 4.4% to AU$117.1 million
• Canada’s net win up 14.6% to AU$18.1 million
The company also reduced its EBITDA loss from AU$13.3 million to AU$3.3 million, with gross profit rising 11.1% to AU$65 million.
“While full H1 results will be released next month, we are thrilled to report we improved our H1 EBITDA position by $10 million, coming in at a loss of $3.3 million,” Swanell said. “This in turn means the company has passed a very important milestone, having now delivered full-year EBITDA profit for calendar year 2024 of AU$8.2 million.”
Looking ahead, PointsBet plans to expand its Canadian offering in FY2025 with several key initiatives. The company will launch three new content providers, significantly broadening its range of gaming options.
Additionally, it aims to expand its game portfolio by 40%, bringing the total to over 600 titles. To further enhance player engagement, PointsBet will also upgrade its loyalty program later in the fiscal year.
Original article: https://www.yogonet.com/international/news/2025/02/03/93658-pointsbet-narrows-fy2025-ebitda-guidance-amid-flat-q2-performance-canada-decline
