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PointsBet Revenues Decline as VIP Restrictions Drag Australian Operations

Posted on: October 14, 2026, 07:38h.

Last updated on: October 14, 2026, 10:31h.

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David Bartram David Bartram is a reporter at Casino.org covering the B2B corner of the global iGaming industry. He has worked in iGaming for more than a decade, writing for EGR and Asia Gaming Brief among others...
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Key Points

PointsBet projects group revenue for the six months ended Sept. 30 to fall 16% year over year to approximately AU$113 million ($79 million)
Stricter compliance controls on high-value Australian bettors caused double-digit declines in turnover and revenue within the operator's VIP segment
The Australian bookmaker expects its normalized EBITDA loss to widen to between AU$6 million ($4.2 million) and AU$8 million ($5.6 million) for the period

Australian sportsbook operator PointsBet (ASX: PBH) expects revenue to drop 16% in the first half of its 2027 financial year as tighter compliance controls curb betting volume among high-value VIP clients.

A PointsBet rinkboard ad during an NHL game at Scotiabank Arena in Toronto. (Image: Julian Avram/Icon Sportswire via Getty Images)

In a trading update, PointsBet forecast group revenue of approximately AU$113 million ($79 million) for the six months ended Sept. 30, down from AU$135 million ($94 million) a year earlier.

The company also expects its normalized EBITDA loss to widen to between AU$6 million ($4.2 million) and AU$8 million ($5.6 million), compared with a loss of AU$3.3 million ($2.3 million) in the first half of fiscal 2026.

PointsBet attributed the downturn to a “continued strengthening of PointsBet’s compliance standards.”

VIP Betting Restrictions Weigh on Revenue

The operator reported double-digit year-over-year declines in both turnover and revenue from its highest-value customer segment throughout the first half.

Executives said the drop stemmed from proactive compliance measures implemented amid heightened regulatory scrutiny across Australia’s gambling sector.

“We believe these have been important decisions to make in the context of an increasingly complex regulatory environment in Australia,” a PointsBet spokesperson said.

PointsBet’s ongoing effort to expand its mass-market sports betting client base in Australia was also highlighted in the update. The company noted that while active customers and overall betting turnover increased during the period, net margin took a hit due to “adverse results” in the Australian Football League (AFL).

Alberta Launch Still Pending

PointsBet’s difficulties in Australia come just over a year after Japanese technology company MIXI acquired a 66.4% controlling stake in the company.

The MIXI transaction, completed in September 2025, valued PointsBet at roughly AU$434 million ($203 million). However, the operator’s market capitalization has since fallen by more than a third.

Another challenge facing the operator is the expansion of its Canadian business. PointsBet began pre-registration in the province of Alberta in February, but failed to launch on day one of the new market. It has previously said it expects to go live during H2 2026.

It will hope to replicate the success it has enjoyed in Ontario, where revenue was up 13% to AU$34.6 million ($24.7 million) during the first nine months of the 2026 financial year.

PointsBet will publish full results for the first half of its 2027 financial year on 30 October.

David Bartram is a reporter at Casino.org covering the B2B corner of the global iGaming industry.

He has worked in iGaming for more than a decade, writing for EGR and Asia Gaming Brief among others. He was previously a journalist and editor in London, Beijing, Brussels and Hong Kong, for publications including the South China Morning Post, the Guardian and Private Eye.

Outside of journalism, David spent several years as an professional online poker player and sports bettor. He lives in Spain and is a lifelong fan of Brighton & Hove Albion.