PointsBet Holdings announced the financial results for the first half of the fiscal year 2026, with total revenue (net winnings) reaching 139.9 million Australian dollars for the six months ending December 31, 2025, a year-on-year increase of 4%. Despite a slight decline in revenue from sports betting in Australia, revenue from the Canadian iGaming business surged by 58%, becoming the main driver of growth. In plain terms, the Australian home base was lukewarm, and the Canadian online casinos were the mainstay. The company also confirmed that Japanese tech company Mixi has completed the acquisition and has become the controlling shareholder (holding 66.43%), with a new CEO also taking office. Interested in the latest financial reports and capital movements of international gambling companies? Follow industry trends continuously on the PASA official website.
First, Canadian Market: iGaming Soars by 58%, New Platform Coming Soon
PointsBet's total revenue in the Canadian market reached 24.4 million Australian dollars, up 35% year-on-year, driven entirely by the iGaming business:
iGaming Revenue: 17.2 million Australian dollars (+58%), with a 14% increase in player spending
Sports Betting Revenue: 7.2 million Australian dollars (+1%), but betting volume decreased by 35% to 109.2 million Australian dollars
The company revealed plans to launch an upgraded iGaming platform in Canada in the first half of the 2026 calendar year, which is expected to further drive growth. Gross profit from Canadian operations also grew by 30% to 11.8 million Australian dollars.
Second, Domestic Australia: Revenue Slightly Down, Horse Racing Betting Suppressed
As PointsBet's stronghold, the Australian market performed modestly:
Revenue: 115.1 million Australian dollars (-1%), all from sports betting
Betting Volume: 1.19 billion Australian dollars (+4%)
Gross Profit: 52.3 million Australian dollars (-6%)
The company stated that it is gaining more market share in the "growing" Australian sports betting market and maintaining its position in the "steady" horse racing market. However, horse racing betting was "actively suppressed," reflecting ongoing enhancements in compliance standards, and the national self-exclusion system for gambling affected high-stake, high-frequency horse racing customers.
Third, Financial and Corporate Changes: Rising Costs Lead to Increased Losses, Mixi Becomes Controlling Shareholder
Financial Overview:
Cost of Revenue: 65.1 million Australian dollars (+9.6%), leading to a slight decrease in gross profit to 64.2 million Australian dollars
Operating Expenses: 76.3 million Australian dollars (+7.6%), with increases in employee benefits and administrative expenses
Pre-tax Loss: Expanded from 5.7 million Australian dollars to 12.2 million Australian dollars
Net Loss: 22.2 million Australian dollars (compared to 17.3 million last year)
Significant Changes:
Mixi Takes Over: The transaction completed in September 2024, with Japanese tech company Mixi acquiring 66.43% voting rights, defeating Betr Entertainment's acquisition bid. Betr now holds 27.72%.
Board Restructuring: Mixi appointed three executives to join the PointsBet board.
New CEO Appointed: Andrew Catterall took office as CEO on February 1, having served as CEO of PointsBet Australia since July 2022.
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