PointsBet reveals 169% turnover hike in Q2

PointsBet has announced a 169% year-on-year rise in turnover for the second quarter, reporting growth across both its Australian and US businesses, while the online sports betting operator has also struck a market access deal in Kansas.

Turnover for the three months to December 31 2019 amounted to Aus$297.3m (£151.5m/€180.3m/US$198.9m), up from $110.6m in the corresponding period last year.

Net revenue was also up 117% year-on-year to $18.0m as PointsBet was boosted by higher spending among its customers across Australia and the US.

The PointsBet Australia business generated $184.8m in turnover in Q2, up 67% from $110.5m last year, while net revenue also climbed 76% to $14.6m.

Meanwhile, the operator’s growing US business continued to boost its overall performance, with turnover from operations in New Jersey and Iowa coming in at $112.5m, while net revenue amounted to $3.4m for the quarter.

Read the full story on iGB North America.