PointsBet has reported a 16% revenue decline in the first half of its FY2027, citing underperformance in its Australian sports betting operations. For the period from April to September 2026, the company generated A$112.7 million, down from A$134.9 million the previous year. The normalized EBITDA also reflected this downturn, dropping from a profit of A$2.9 million to a loss of A$6.9 million.
The net win, which refers to the total stakes received minus winnings paid out, fell by 17% to A$122.1 million. Sports betting operations accounted for A$107 million, showing an 18% decline, while iGaming saw a minor drop from A$15.3 million to A$15.2 million.
Despite the revenue downturn, PointsBet's active cash customer base grew by 6%, reaching 310,058 across Australia and Canada. Marketing expenditures also increased by 6%, totaling A$33.1 million. Australia remained PointsBet's top market, although sports betting revenue there decreased by 19% year-on-year, amounting to A$91.8 million. Sports betting net win in Australia fell 18% to A$101.2 million, while turnover decreased by 14% to A$1.03 billion. Active clients in Australia saw a slight 2% rise to 237,265.
The company noted that turnover and revenue from its highest-value customers continued to decline significantly, attributing this to proactive compliance measures aimed at that demographic. Promotional spending also rose, contributing to 27.9% of gross win during the first half, compared to 24.4% a year earlier, with the figure climbing to 32.8% in August and September.
In Canada, although cash clients increased by 18% to 72,793, PointsBet's revenue from sports betting and iGaming dropped, leading to a A$20.9 million revenue decrease of 6%. The net win from iGaming remained steady at A$15.2 million, with a 10% increase in turnover. However, the net win from sports betting fell from A$7.2 million to A$5.7 million, and turnover decreased by 38%, prompted by the loss of significant clients early in the year.
PointsBet also introduced its Bede casino platform and revealed plans to expand into Alberta by 2026, subject to regulatory approval.
Gross profit during this period fell by 15% year-on-year to A$57.1 million, with Australian gross profit declining to A$46.9 million. In contrast, Canada saw a slight gross profit increase to A$10.1 million, rising by 6%. Marketing costs reached A$33.1 million, marking a 6% increase, while operating expenses decreased by 6% to A$30.8 million.
This reporting period marks the first under PointsBet's adjusted financial year-end of March 31, shifting from June 30. This change aligns with the fiscal schedule of its parent company, MIXI Australia, which acquired a 66.4% controlling stake in PointsBet in September 2025. Additionally, the Alcohol and Gaming Commission of Ontario (AGCO) reduced a previous 5-day suspension of PointsBet Canada to 2 days due to failures in managing suspicious betting related to Jontay Porter’s incident.
