PointsBet posts strong end-of-year and Q4 results
PointsBet has simultaneously released its financial results for 2022 as well as for its Q4. The Australian bookmaker has had a stellar year in 2022, with much of the business showing strong net revenue and significant gains in the US market.
For 2022, the company declared a 48% increase on 2021, with $309.4m generated across the board – compared to 2021’s $208.5m. Aided by a 32% turnover increase, PointsBet reported handle of over $5bn in 2022 – up from $3.7bn.
However, the big news for the company comes from its growth in North America, with a 122% increase in total net revenue – totalling $93.9m against 2021’s $42.3m. Meanwhile, turnover was up 37% in the US, totalling $2.4bn.
Australia, meanwhile, saw positive gains – though not as significant as those made in the US – as PointsBet saw a 30% increase annually, posting a 2022 financial gain of $215.4m.
The Q4 results echoed the bookmaker’s growth throughout the year, as it saw a 41% increase in total net revenue – generating $85.8m against 2021’s $60.8m.
The US and Australia both saw gains, with the former seeing a 72% uptick with revenues of $30.4m – and Australia up 28% with a net income of $55.2m.
Earlier this year, PointsBet was granted a licence to operate in Ontario, became the official sportsbook partner of Maple Leaf Sports and Entertainment, and signed a new streaming deal with IMG Arena.
So, going forward it’s easy to see the operator making further major strides in the North American and Canadian market – as more US states open up to gambling.
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