PointsBet, a sports betting operator, applauded the news that Australia’s National Rugby League and the Australian Football League will make a comeback on May and June respectively, adding that this would help a business that has performed well despite the Covid-19 pandemic.
The NRL is scheduled to restart on May 28 and the AFL will follow suit on June 11. Both sports leagues will resume operations before the end of the fourth quarter of the operator’s fiscal year on June 30. From April 1 to May 25 PointsBet revealed that net win from the US and Australian operations generated AUD$ 18.5 million ($12.3 million), just below the $18.7 reported for the frist three months of its third quarter for 2020.
Revenue in Australia was only around $18.2 million, whereas its US revenue for the period which ended on May 25 amounted to $300,000. For the year to date, the net revenue is pegged at $67.2 million.
According to the sports betting operator, the consistent strong performance of its Australian businesses was due to the fact that more players shifted to online betting during the period when retail outlets were shut down due to the Covid-19 pandemic.
Racing turnover growth in Australia performed better compared to other wagering service providers—at a time when racing in the country was not really affected by the pandemic—whereas an improvement in its overall product offering resulted to an even better share of wallet from existing clients.
This, according to PointsBet, would be aided even more by the return of the ARL and the NRL.
“The commencement of NRL and AFL will see the breadth of PointsBet’s product offering expand in Australia, with clients being able to wager on both racing and major sports,” the operator said.
The operator will also serve as the exclusive betting partner for the Fox Sports AFL channel for the 2020 season, expanding its presence even more around the sport.