PointsBet forecasts 16 percent revenue drop for first half of 2027
The operator attributes the decline to adverse sports results in Australia and punter-friendly outcomes during the FIFA World Cup.
PointsBet expects its revenue for the first half of 2027 to decline 16 percent year-on-year to approximately AU$113 million.
The figure is a significant drop from the $135 million reported in the same period last year.
PointsBet has attributed its 2026 slowdown to “a continuation of two key themes”.
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It noted “adverse results” in the Australian Football League in August and September.
The 2026 FIFA World Cup was subject to what many operators generally classify as “punter-friendly results” in its early stages.
This second choice also occurred in a period which contained the final stages of the National Rugby League and Australian Football League seasons, alongside the entirety of the 2026 FIFA World Cup.
Despite the ASX-listed operator having clear and obvious reasoning for this decline in revenue, it may worry majority shareholder MIXI.
The Japanese giant purchased its 66 percent majority stake back in September 2025, which valued PointsBet at approximately $420 million.
Its market cap has fallen notably since and now sits at $281.6 million.
Due to the circumstances outlined above, the business expects H1 normalised EBITDA to be in the range of $6m-$8m.
Canadian expansion pending
Since then, the company has entered the official registration process with the Alberta Gaming, Liquor and Cannabis (AGLC) agency and opened pre-registration for local players, but is yet to officially launch in Canada’s second regulated gambling market.
But unlike a vast array of operators who launched there on day one, the PointsBet brand is still yet to land there.
PointsBet’s operation in Ontario has been touted as a key revenue driver despite a drop off in Australia, and therefore it makes sense for the group to launch in Alberta.
Its FY26 results stated that its operations there are “expected to go live in the second half of calendar year 2026”, meaning there is still a couple of months left to display to investors and potential customers that the move is still on track.
Many operators Down Under are currently handling a rocky path with so much regulatory uncertainty around gambling. PointsBet seems to be no different.
Prime Minister Anthony Albanese‘s government is pressing ahead with a package of gambling reforms, but many pro-gambling reform advocates feel measures haven’t gone far enough.