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PointsBet has released its financial results for the full year 2024, showing a positive period for the operator, including total net win growth of 16% to AU$267.1m (US$173.6m).
Looking at the results as a whole, sports betting saw turnover rise 4% year-on-year to AU$2.93bn, with net win up 14% to AU$248.3m.
It was in iGaming, however, where the business saw the largest growth, with net win reaching AU$18.8m, representing an increase of 63%. Following its US exit, the company as a whole continued to grow its market share in Australia and Canada.
On an individual basis, the Australia segment of PointsBet saw its active clients in Q4 FY24 go up 3% from Q3 FY24, reaching 227,900 cash-active clients during the quarter, which refers to those who have placed a cash bet in the 12 months preceding the relevant period end.
The Australia segment only represetns sports betting, but its net win for the FY24 was up 10% to AU$233.1m, with turnover valued at AU$2.68bn.
It was in Canada where PointsBet saw the largest advancements, with total net win up 86% to AU$34m in FY24, which included sports betting net win surging 124% to AU$15.2m, and iGaming net win increasing 63% AU$18.8m.
Q4 FY24 was an important quarter for the Canadian segment of the business, emphasised by sports betting net win being 147% higher than Q4 FY23 at AU$4.6m.
In other results-based news, Caesars Entertainment has reported its Q2 results for 2024, posting total net revenue of $2.83bn, as well as a net loss of $122m.
