PointsBet (ASX:PBH) reports $51.8 million operating loss

Company News

by Lauren Evans

PointsBet (ASX:PBH) reported an operating loss of $51.8 million in the December quarter, with revenue at $90.4 million.

The sports betting business reported investing cash outflows of $43.6 million, as the company finished the quarter with net cash on hand of $569 million.

PointsBet said total turnover climbed 11 per cent on the prior correspodning quarter to $1.33 billion. Meanwhile active clients in the US grew 210 per cent on the prior corresponding quarter, while clients in Australia grew 63 per cent. 

Shares in PointsBet (ASX:PBH) are trading 8.8 per cent lower at $4.59. 

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