PointsBet Reaps Rewards of Canadian iGaming Push
Posted on: May 17, 2026, 09:20h.
Last updated on: May 18, 2026, 05:01h.
- Group revenue dipped slightly by 1% year-over-year for the first nine months of FY26 following the corporate transition
- Online casino operations in Canada offset global declines with a massive 28% net win boom
- PointsBet Canada is locked in for day-one operations ahead of the upcoming Alberta market launch
PointsBet posted total group revenue of A$186.6 million (USD $133.4 million) for the nine months ended March 31, down from A$188.4 million ($134.7 million) year over year for the same period, a decrease offset by stronger growth reported by the company’s Canada operations.
1% Decrease in Group Revenue
PointsBet reported a 6% year-over-year decline in gross profit for the first nine months of FY26, dropping to A$93.6 million (USD $66.9 million) from A$99.9 million (USD $71.4 million) in the prior corresponding period (PCP).
The shift follows the company’s decision to align with parent company MIXI by moving its financial year-end from June 30 to March 31, allowing for consolidated financial reporting as of Oct. 1, 2025.
Total cash-active clients grew by a modest 1% to 298,100. While the Australian user base dipped by 1%, a strong 9% surge in Canadian active clients offset the domestic decline.
On the balance sheet, PointsBet successfully trimmed its overhead. Nine-month marketing expenses fell from A$50.2 million (USD $35.9 million) to A$49.2 million (USD $35.1 million), while operating expenses dropped from A$48.6 million (USD $34.7 million) to A$45.2 million (USD $32.3 million).
Despite those cost-cutting measures, company EBITDA plummeted 167% into negative territory, shifting from a previous profit to a loss of A$0.8 million (USD $572,600).
For months last year, a boardroom battle between MIXI Australia and Betr for control of Australia-based PointsBet played out publicly in the press, with offers and counteroffers bouncing back and forth. In September, MIXI Australia completed its takeover bid for PointsBet, securing 66.43% of the shares in the company, wrapping up its majority holding.
PointsBet’s Australian division posted weaker results, with revenue slipping 4% to A$152 million (USD $108.7 million), down from A$157.9 million (USD $112.9 million) in the prior period. While the sports betting gross win margin held steady at 13.3%, net win matched the revenue decline, dropping 4% to A$167.3 million (USD $119.6 million).
Canada Results
It was online casino in Canada that helped drive the bus overall, financially.
Revenue in Canada was up 13%, to A$34.6 million (USD $24.7 million), with total net win climbing 14% to A$34.7 million (USD $24.8 million). Out of that, though, igaming net win grew 28%, to A$ 23.6 million (USD $16.9 million), with slots in particular the big factor.
Sports betting handle decreased 39% to A$905.6 million (USD $115.5 million) PCP, which the company said came down to lower VIP play and higher gross win margins, reducing reinvestment.
In March, PointsBet Canada Head of Casino Brooke Hilton spoke to Casino.org about how Canada has evolved into a casino-first casino marketplace.
“Everyone in this industry understands the need to evolve, innovate and challenge what is expected,” she said. “And so, over the past year, we’ve really been investing in the casino side of the technology, features, promotion, mechanics and things to that degree. So, we’re really going to elevate our product to be able to go after more casino-first players. That’s in line with what the market is telling us.”
Alberta Launch in July
PointsBet Canada came out of the gate as a licensed operator when the Ontario regulated market opened April 4, 2022. The company is also on the Alberta Gaming, Liquor & Cannabis list of 28 igaming operators that have either secured a license to start operations in Alberta when that market goes live July 13 or are in process of securing a license.
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