PointsBet net revenue soars over 220% in FY2021 first quarter

PointsBet reported turnover and revenue growth during the first quarter of its 2021 fiscal year, the three months ended 30 September.

During the period, the group recorded a turnover of A$691.9 million (USD $493.3 M), a 193% increase. A$527.7 million came from Australia, up 221%, while the US market contributed the remaining A$164.2 million, a 130% growth year-over-year. 

The company reported a gross win of A$70.4 million, or 10.2% gross win margin, a 282.6% rise from the prior corresponding period. In terms of the net revenue win, PointsBet netted A$38.1 million, or a 5.5% net win, a 222.9% year-on-year rise. 

Active clients climbed by 88% to 164,500. Customer numbers in Australia grew 73.2% to 124,715, while the US customer base grew 158.9% to 39,816.

Also during the first quarter of FY2021, the company signed a 5-year media partnership with NBCUniversal, becoming its official betting partner, in exchange for a USD 393 million marketing spend. PointsBet simultaneously announced and has since completed, a A$353.2 million capital raise comprising an entitlement offer and a share placement.

The company also secured several other partnerships, with Kroenke Sports & Entertainment, the Detroit Tigers, Pacers Sports & Entertainment, Indianapolis Colts and Chicago Bears and Twin River. The latter gave the company iGaming access in New Jersey. PointsBet also launched in Illinois and relaunched in Indiana during the quarter.

See full presentation of PointsBet's 2021 fiscal year first quarter results.