- Bookmaker PointsBet (PBH) is ready to build on record earnings made earlier this year, with live sport firing up again around Australia and the world
- Despite no live sport being played due to restrictions from the COVID-19 pandemic, the Australian arm of the company netted $18.2 million in revenue for the period April 1 to 25 May 2020
- It follows a back to back record net win months in February and then March this year
- PointsBet also announced today it's signed an agreement with Fox Sports' AFL programming arm, Fox Footy, to be the exclusive wagering partner for the 2020 AFL season
- The company's share price has responded positively to the news, up 5.13 per cent and selling shares for $5.32 each
Bookmaker PointsBet (PBH) says it's ready to build on record earnings banked earlier this year, with live sport firing up again around Australia and the world.
Sport leagues began to shut down around Australia and the world back in March, to help minimise the spread of the COVID-19 pandemic, which was in full flight.
While live sport was up and running prior to the shutdown period, PointsBet recorded back to back record monthly earnings for February and then March earlier this year.
However, despite live sport grinding to a halt, the company's Australian arm reported a strong seven weeks, which netted them $18.2 million in revenue for the period April 1 to 25 May 2020.
With the National Rugby League (NRL) resuming tomorrow and the Australian Football League (AFL) firing up in a fortnight, the company is buoyed by what earnings the return of live sport will do for its books.
The company pinpointed its recent strong performances from its Australian trading business to; the shift to shift online gambling spend as a result of retail venue closures, as well as, PointsBet’s racing turnover growth outperforming other wagering service providers.
The U.S. arm of the business will need to bide its time a little longer, with major American sporting leagues not looking to restart until July, however, the Professional Golfers Association has announced it'll recommence its season on June 11.
Included in PointsBet's market update today, the company announced it had agreed on terms with Fox Sports Australia's AFL arm, Fox Footy, to be the official wagering partner for the 2020 AFL season.
The company's share price has responded positively to the news, up 5.13 per cent and selling shares for $5.32 each at 3:58 pm AEST.