A new era has dawned for the global sportsbook, as a controlling stake has been secured by MIXI, a move heralded by the company’s chairman as a pivotal moment.
Brett Paton, addressing shareholders at the annual general meeting, described the past year as a period of profound change – a strategic overhaul designed to forge a path towards lasting profitability.
The acquisition by MIXI followed a fiercely contested bidding war, ultimately resulting in a new leadership presence on the Board. Paton extended a warm welcome to the newly appointed directors and expressed sincere gratitude to those departing for their dedicated service.
The company’s immediate focus remains sharply defined: refining its in-house sportsbook and iGaming technology, streamlining operational costs, and bolstering its risk management protocols.
A significant surge in Canadian revenue – a remarkable 26% increase – underscores the company’s growing strength in that market, mirroring the expansion within Ontario.
For the first time in its history, the PointsBet Group has reported positive Normalized EBITDA, reaching $11.2 million – a dramatic turnaround from the $1.8 million loss recorded the previous year.
This positive momentum extends to Australia, where Statutory Segment EBITDA climbed to $30.1 million, representing a substantial 12% increase year-over-year.
The company is committed to disciplined investment, prioritizing initiatives that fuel growth and maximize value for its shareholders, building on the foundations laid during this transformative period.
These advancements signal a turning point, demonstrating the effectiveness of the strategic reshaping and positioning the company for sustained success in a competitive landscape.
