PointsBet on track for revenue growth of up to 20% in FY24

The news: Gambling giant PointsBet says it's on track for revenue growth of between 10% and 20% in fiscal year 2024, in an announcement ahead of its AGM on Tuesday.

The numbers: Group net win — the total amount wagered on PointsBet platforms minus the total amount paid to players for winning wagers — for the quarter to date from 1 October to 25 November was $48.2 million, up 26% from the prior corresponding period. The Australian trading arm contributed $42.2million for the same period, a 20% increase, while Canada's contribution jumped 107% to $6 million compared to the prior corresponding period.

The context: PointsBet chairman Brett Paton said that the company's "pivotal event" in the last year was the sale of its US business to Fanatics for USD225 million ($340 million), approved by shareholders in June, which is due to complete in early 2024. Meanwhile, PointsBet intends to continue to grow its 5% market share in the Australian market.