PointsBet has reported a 16% fall in first-half revenue, with the company pointing to weaker Australian sports betting results. According to the figures reported by trade publication Yogonet, revenue for the six months ended 30 September was A$112.7 million, down from A$134.9 million a year earlier.

Normalised EBITDA swung to a loss of A$6.9 million from a profit of A$2.9 million. Gross profit declined 15% to A$57.1 million. Group net win fell 17% to A$122.1 million, while marketing costs rose 6% to A$33.1 million.

Australian business under pressure

Australian sports betting revenue fell 19% to A$91.8 million, and net win declined 18% to A$101.2 million. Betting handle dropped 14% to A$1.03 billion, although cash active clients increased 2% to 237,265. Gross profit in Australia fell 17% to A$46.9 million.

PointsBet said its high-value customer cohort recorded sustained double-digit declines in turnover and revenue following what it described as proactive compliance measures. The source material does not say what those measures involved, and the company's characterisation has not been independently verified.

Promotions accounted for 27.9% of gross win, up from 24.4% a year earlier, and reached 32.8% in August and September. In practical terms, a larger share of the company's gross win is being directed into promotional spending.

Across the group, sports betting net win declined 18% to A$107 million, while iGaming net win was broadly unchanged at A$15.2 million. Cash active clients across the group rose 6% to 310,058.

Canada growth and a regulatory penalty

Canadian revenue declined 6% in Australian dollar terms to A$20.9 million but rose 3% in Canadian dollars. PointsBet said a 10% appreciation of the Australian dollar against the Canadian dollar reduced reported revenue by more than A$2 million. Cash active clients in Canada rose 18% to 72,793, and gross profit increased 6% to A$10.1 million. The statutory segment EBITDA loss widened 82% to C$6.7 million.

Canadian iGaming handle increased 21% to C$592.9 million, and net win rose 9% to C$15 million. Sports betting handle fell 32% to C$83.4 million. PointsBet attributed some of the softness to churn among a small number of high-staking customers in the first quarter. It said online casino accounted for almost 88% of Ontario handle and 73% of gaming revenue. Online casino is regulated in Ontario but remains prohibited for Australian customers under federal law.

The company is targeting a launch of its sportsbook and casino products in Alberta before the end of 2026, subject to regulatory approvals. It has also moved its Canadian casino operations to the Bede Gaming platform, preparing for a planned loyalty programme.

"Positions us strongly in Ontario and prepares us for future growth across additional Canadian markets," said Scott Vanderwel, Chief Executive of PointsBet Canada, of the platform move.

PointsBet also reached an agreement with the Alcohol and Gaming Commission of Ontario (AGCO) over alleged monitoring and reporting failures involving suspicious bets on former Toronto Raptors player Jontay Porter. The regulator agreed to cut a proposed five-day suspension of the company's Ontario website to two days. The suspension will affect both sportsbook and casino operations. The AGCO had described the alleged conduct as a "systemic failure".

What has not been disclosed

The source material does not give suspension dates, the specific compliance measures behind the Australian decline, or the size of the high-value cohort. PointsBet changed its financial year-end from 30 June to 31 March to align with parent company MIXI Australia, which acquired a 66.4% stake in the group in September 2025.