Casino Dominance
PointsBet Canada has reported a significant surge in its igaming performance in Ontario. The total market revenue has risen 26% year on year to A$42.9 million (C$38.5 million) for the Australian fiscal year, which spans from July 1, 2024, to June 30, 2025.
The online casino sector played a dominant role in the growth. PointsBet, an Australian company, crossed the A$1 billion (C$1.02 billion) handle threshold in Ontario, marking a 27% increase from the previous year. The company’s sport betting handle reached A$354.9 million (C$318.8 million), a 39% rise on the previous year.
The results reflect Ontario’s broader trend of preferring online casinos to sports betting. PointsBet’s online casino gross win rose by 34%, and its net win increased by 39% year on year. In contrast, online sports betting grew more modestly. The gross win and net win for the same period both increased by 11%.
PointsBet CEO, Sam Swanell, emphasised the company’s expanded offerings in Ontario. He noted that its number of online casino content suppliers increased from four to 15. The company’s game catalogue has grown to include more than 1,000 titles. Swanell also highlighted that the number of active PointsBet players in Ontario increased by 30%. He stated that more users are using the platform for both casino gaming and sports betting.
He added that the business is able to finish the year with less reliance on “high-stakes clients”.Swanell is also pleased with the diverse revenue base and the momentum of revenue growth.
Expansion Plans
PointsBet is also preparing to expand beyond Ontario into Alberta. The Alberta government previously aimed to launch an online competitive gambling market like Ontario in early 2026. However, Swanell stated that his company now anticipates the regulated market to go live in the fourth quarter of the Australian FY26. This is the second quarter of the calendar year between April and June 2026.
PointsBet’s CEO in Canada, Scott Vanderwel, previously said that the company plans to offer their full platform from the moment it is possible in Alberta. He described Alberta as a critical region for PointsBet’s future.
Takeover Movement
The success takes place on the backdrop of a takeover. Japanese entertainment firm MIXI now holds more than 50% of the voting power in PointsBet following shareholders accepting a takeover offer.
The takeover process has been marked by conflict with Betr, a rival bidder. Betr currently holds approximately 19% of PointsBet shares. Both companies have publicly said they will reject each other’s bid. PointsBet directors have unanimously backed MIXI’s all-cash offer and declined Betr’s share-based proposal. Swanell characterised the Betr bid as hostile and unsolicited while calling their business very inferior.
Betr’s proposal includes a plan to sell PointsBet Canada to Hard Rock Digital for around C$40 million. MIXI’s intentions for PointsBet Canada have not been disclosed.
Reflecting on the current status of the offers for PointsBet, Swanell said that there is a very strong chance that MIXI Australia will have control of PointsBet by the conclusion.
