Why it matters: PointsBet is one of the largest listed bookmakers in the country
But it has struggled to become profitable, which it expects will happen in 2025
Its chief executive, Sam Swanell, agreed to sell the US arm to Fanatics in June
PointsBet chief executive Sam Swanell says he expects the wagering group to break even by April and be profitable by the next financial year after posting a significant rise in earnings in the three months to June 30.
Mr Swanell will focus on growing PointsBet Australia’s revenue and winnings after selling the company’s business in the United States last month to Jay Z-backed sports merchandise company, Fanatics, for $333 million.
Loading...
Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
