PointsBet Revenue Doubles in Q2 2021

Australian gaming company PointsBet has posted its second quarter of 2021 financial results, with revenues up to $90.4 million, but losses continue to accumulate.

Key financial indicators for the quarter ending December 31st, 2021 were:

• Handle of A$1.33 billion, up 11.1% from last year
• Handle in Australia was up 33.6% to A$727 million
• US handle was down 9.2% to A$598.9 million
• US market share as follows: 7.4% for Illinois, 5.1% for Michigan, 3.5% for Colorado, 3.1% for New Jersey, 2.8% for Indiana, 2.3% for Iowa, and 1.4% for West Virginia
• Gross sportsbetting revenues up 60.4% to A$133.8 million
• Australian gross sportsbetting revenues up 22.2% to A$92.2 million
• US sportsbetting revenues up more than 500% to A$41.6 million
• Net sportsbetting revenues were up 60.7% to A$71.9 million
• Net online casino revenues up to A$77.3 million
• Active players in Australia were 232,785, while US active users came in at 211,113
• Net loss from gaming activities came in at A$51.8 million
• Loss from investment activities were A$43.6 million