PointsBet posted a net win of AU$202m (US$144.7m) for the nine months ending 31 March 2026, down 1% year-on-year, as a four per cent fall in Australian sports betting revenue outpaced gains from its Canadian iGaming business.
Total company revenue came in at AU$186.6m (US$133.6m), also down 1% from AU$188.4m (US$134.9m) in the prior year period.
Sports Betting Drags on Australian Core
The sports betting segment generated AU$178.4m (US$127.7m) for the nine months, down 4% from AU$185.9m (US$133.1m) a year earlier. Australia remained the dominant contributor at AU$167.3m (US$120m), though that figure was also 4% lower year-on-year. Revenue from Australian operations totalled AU$152m (US$108.9m) for the period, a 4% decline.
Gross profit fell more sharply, dropping 6% to AU$93.6m (US$67m) from AU$99.9m (US$71.5m). Australian gross profit of AU$77m (US$55.1m) was down 8%.
Normalised EBITDA came in at -AU$0.8m (-US$573,000), reversing a positive AU$1.2m (US$859,000) in the comparable period.
Canada Provides Partial Offset
Canada was the growth engine in the period, though from a smaller base. Canadian iGaming revenue — all of it generated in Ontario — reached AU$23.6m (US$16.9m), up 28% from AU$18.3m (US$13.1m) a year earlier. Canadian sports betting contributed AU$11.1m (US$7.9m), down 8%.
Total Canadian net win reached AU$34.7m (US$24.8m), an increase of 14% year-on-year. Canadian total revenue was AU$34.6m (US$24.8m), up 13%. Canadian gross profit was AU$16.6m (US$11.9m), up 4%.
The Canadian iGaming trajectory follows a pattern established in H1 of the 2026 financial year, when iGaming revenue jumped 58% to AU$17.2m in the six months to 31 December 2025, against a 1% dip in sports betting revenue for the same half.
Platform Investment and Alberta Expansion
PointsBet Canada has been investing in its iGaming infrastructure ahead of the Alberta market launch, scheduled for 13 July 2026. In May 2026, the operator confirmed a content aggregation and bonusing platform deal with Bede Gaming, integrating additional titles from Games Global and Pragmatic Play into its Ontario environment and positioning the platform ahead of the Alberta go-live.
The Bede platform provides PointsBet with tools for player management, automated marketing, and promotional campaigns, and is currently live in Ontario. PointsBet Canada holds an 86% market share in Ontario’s online casino segment, a position the operator will seek to replicate in Alberta, where the iGaming market is projected to reach over $700m in annual revenue at maturity.
The operator’s Canadian expansion ambitions sit alongside an unresolved regulatory matter in Ontario. The Alcohol and Gaming Commission of Ontario proposed a five-day licence suspension in February 2026 over suspicious betting activity linked to the Jack Porter insider betting case. PointsBet Canada said it believes the proposed sanction is disproportionate to what it described as an isolated incident resulting from human error, and has sought a hearing before the Licence Appeal Tribunal.
The nine-month results reflect the structural challenge facing the Australian business: a mature, competitive sports betting market where revenue and gross profit are declining even as the Canadian iGaming unit scales. Whether the Alberta launch and the Bede platform investment can accelerate Canadian growth enough to offset continued Australian pressure will determine the direction of the full-year figures.
For related coverage, see BetMGM Q3 strong performance and Flutter Entertainment Q3 mixed results.
Source: PointsBet Holdings
