Gambling operator PointsBet is optimistic about its business in Australia despite the country’s mulled gambling ad restrictions. The company is certain that its business is in a position where it would be more or less unaffected by such a change.
For context, the country is considering proposals to ban or at least significantly limit gambling ads. One of the latest proposals outlines a cap of no more than two ads per hour until 10 pm.
In the meantime, activists continue to promote a complete blanket ban on gambling ads, arguing that this would be the only way to shield younger Australians from the dangers of the gambling industry.
Some have argued that a ban would hurt the free-to-air TV sector but others claim that a cap would satisfy no one as it would still hurt the gaming market without fulfilling anti-gambling activists’ objectives.
PointsBet Is in a Good Position, CEO Swanell Says
In an analyst call following the recent publication of the company’s Q4 results, CEO Sam Swanell believes that PointsBet could shake off any ad-related setback thanks to its significant presence in Australia.
Swanell was firm that PointsBet’s FY 2025 results will not be impacted by any change to gambling advertising. However, he added that this is based on the assumption that his company continues to spend as usual.
Speaking of spending, Swanell noted that ad restrictions could even help his company save up on costs.
PointsBet Published Its FY 2024 Report
As mentioned, PointsBet just published its report for the fiscal year, highlighting a 17% increase in group net revenue to AUD 245.5 million. In addition, the company reported a normalized EBITDA of AUD 47.2 million, marking a significant improvement from the EBITDA loss of AUD 49 million recorded the previous year.
The company’s marketing expenses for FY 2024 stood at AUD 71 million, marking a year-on-year decrease of 21%. Operating expenses, on the other hand, were down to AUD 10.3 million.
The period saw PointsBet sell its US assets to Fanatics, allowing it to focus on its core business in Australia. In addition to that, the company completed an AUD 442.4 million capital return to shareholders.
