PointsBet releases H1 2022 financial report
The company also experienced significant growth due to US expansion.
PointsBet has reported its business results from the first half of the 2022 fiscal year. The interim report reflected a significant bump in total company revenue, increasing by 85% to $100m.
The company’s overall handle climbed by 22%, reaching more than $1.6bn for the year ending December 31.
However, PointBet’s EBITDA had a net loss of $91.05m, which was 82% higher than its net loss during the first half of 2021’s fiscal year.
North American business numbers reflected steady company growth for the region. PointsBet’s US handle reached more than $27.4m, a 16% increase from the previous H1 period.
Illinois led the way as the state with the largest US online sports betting market share of 7.1%. Michigan grabbed the second spot with 5.1%, followed by Colorado with 3.8%.
US expansion continued during 2022’s H1 period as well. PointsBet currently operates in Colorado, Illinois, Indiana, Iowa, Michigan, New Jersey, New York, Virginia, and West Virginia, with online casinos in Michigan, New Jersey and West Virginia.
The Australian company achieved several firsts during the period, including opening three US iGaming operations, launching its 10th US sportsbook and taking its first online sports bet in the state of Pennsylvania. During the summer, PointsBet launched its iGaming platform in New Jersey and opened its West Virginia online sports betting operation.
Since the first of the year, the company has launched online sports betting in New York and Pennsylvania, and it was approved in Wyoming as an online sports wagering operator.
It is also an approved sportsbook operator of the NFL, an authorized sports betting operator of the NBA, and the official sports betting partner of NBC Sports.
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