PointsBet Revision Shows Improved EBITDA Forecast for FY24
PointsBet Holdings, the Australian-based bookmaker, has announced it has updated its trading figures for the year, with an improved EBITDA forecast loss of between AUD 4-6 million. This is down from an EBITDA guidance loss of AUD 9-14 million issued at the start of the year.
PointsBet Holdings issues an improved EBITDA forecast for FY24.
LISTEN TO THIS ARTICLE:The bookmaker says these positive projections are based on an improved recent performance from the business and a concerted effort to find operational efficiencies within the organization.
During the year PointsBet has completed the sale of its operations in the U.S to Fanatics, for the price of $225 million, stating the disposal will allow the business to streamline its global portfolio.
PointsBet says the bookmaker will now be able to focus on its biggest markets, particularly Australia and Canada.
It is particularly notable to see that the company has been able to continue to deliver such impressive results, whilst simultaneously undertaking a complex technical and operational migration, separation, and re-organisation, with the recent completion of the sale of the US business.
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Core Technology Investment For Growth Strategy
Following the streamlining of the group has led to the business ramping up investment in its core operations, focusing on its technological services.
Senior leadership at the bookmakers have outlined this investment strategy as the main reason the business is enjoying a period of growth this year and believes this plan will continue to be reflected in the future trading results for 2025.
We continue to invest for further growth, in particular in our core technology and product capabilities and our outsized marketing investment. This is driving our market share growth and setting the company up for further success in FY25 and beyond.
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