PointsBet updates on new controlling shareholder MIXI
The chairman of the bookmaker PointsBet Holdings has welcomed the new controlling shareholder, MIXI, as it provides an update at the annual general meeting.
Within the meeting, Mr Brett Paton explained how this past year “has been one of significant transition and strategic reshaping” for the company, as he says they’ve continued to refine the operating model, while focusing on core markets and positioning the business for sustainable and profitable growth.
It was in September when it was announced that MIXI would become the controlling shareholder, following a battle between other companies that sent in offers. Now, in the chairman’s address, Mr Paton took the time to welcome the new directors nominated by MIXI to the Board and thanked the outgoing directors for their service, dedication, and stewardship of the company.
Looking forward, the company is prioritizing the items it has worked on within the last year, like enhancing its proprietary sportsbook and iGaming platforms, optimizing the cost structure, strengthening compliance capability and risk management practices, and maintaining disciplined capital allocation aligned to growth and shareholder value creation.
PointsBet grows revenue in Canada by massive 26%
As well as welcoming MIXI within the address, the Group CEO and managing director, Sam Swanell, shared an insight into how the company has been performing.
“The PointsBet Group had a strong year delivering $11.2 million of positive Normalised EBITDA, the positive result being the first in the Group’s history.”
This figure is a material improvement on the EBITDA loss of $1.8 million in FY24. A major rise has been seen in Canada too, as the revenue has grown by 26% in line with the Ontario market, and the company has reduced the statutory segment loss by 24% to $15.1 million.
In the Australian business, the Statutory Segment EBITDA grew to $30.1 million, which represents a 12% increase on FY24.
Featured Image: Via PointsBet Investors website
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