PointsBet, the powerful online bookmaker and iGaming services provider from Australia, has announced its results for the first quarter of the 2022-2023 fiscal year and the numbers show a decrease when it comes to revenue.
In fact, the Australian company generated revenue of 115.1 million Australian dollars in the first quarter of the fiscal year and that figure represents a decrease of 2 percent compared to the same quarter of the previous financial year.
Moreover, gross win margin also recorded a decrease, going down by 2 percent to a margin of 10 percent. However, the company’s net profit as far as the sports betting vertical is concerned recorded an increase of 4 percent to 70.3 million Australian dollars.
The Australian company’s iGaming services division recorded an even more impressive net profit increase, going up by no less than 287 percent to a total amount of 8.5 million Australian dollars.
Across all verticals, PointsBet managed to record a net profit of 78.8 million Australian dollars, a figure that represents an increase of 13 percent compared to the first quarter of the 2021-2022 financial year.
The total betting handle also recorded an increase of 18 percent year-on-year, rising to an amount of 1.15 billion Australian dollars in the first three months of the 2022-2023 fiscal year.