PointsBet has reported its financial results for the fiscal year ending June 30, 2024, showing a 17% year-on-year increase in net revenue, reaching $245.5 million. The gross profit margin for FY24 improved to 52.8%, a 2.5% increase, reflecting enhanced operational efficiency. PointsBet successfully cut costs, with marketing expenses dropping by 21% to $71 million. Additionally, operating expenses, excluding marketing, were reduced by $10.3 million compared to FY23. A major event in FY24 was the completion of the sale of PointsBet's U.S. business to Fanatics Betting and Gaming for $225 million. This transaction, finalized after a 10-month process, allowed the company to return $442.4 million to shareholders. The Australian Taxation Office confirmed that this capital return would not be classified as a dividend. #casino #gambling #igaming #gamblingnews
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OPAP published its Q2’24 financial results, which showcase solid revenue growth. OPAP’s performance was mainly driven by sportsbetting activity, which was significantly boosted during Euro 2024. Additionally, Eurojackpot continued its upward trend, while our product portfolio was further enriched, and the penetration of our online games rose to record levels, during the quarter. Jan Karas, OPAP CEO, said: “Q2 2024 proved to be another strong quarter, with positive results for OPAP. In this framework and in line with our unwavering commitment to rewarding our shareholders, we are pleased to distribute an interim dividend of €0.60 per share. Looking ahead, we are confident that OPAP is well positioned to achieve its financial and strategic goals for FY2024, as well as to meet its sustainability and social responsibility priorities.” For a detailed review, you can read the Q2 results press release here: https://lnkd.in/gXhQZxX9 #opap #financialresults #Q224
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Today, I picked the brains of PayFasto's high-risk experts to bring you this quick guide on how to set your betting business up for success by simply picking the right payment processor... #sportsbetting #onlinegambling #creditcardprocessing
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📰 PointsBet again finds itself linked with a takeover, though the company has moved quickly to squash the rumours. 💰 Newspaper reports link operator with AU$300 million buyout without naming any potential acquirers 🎙 “Generally, PointsBet does not comment on rumour of speculation. However, the company confirms that it is not in discussion as suggested in the article,” the operator replied in a statement 🔭 Companies such as Betr (not that one) have previously been linked with a bid, while Stake.com's founders have built up a holding in the business 👉 Read on here: https://lnkd.in/edV_E5TE
PointsBet denies reports of AUS$300 million overseas takeover
igamingbusiness.com
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BlueBet (ASX: BBT) and PointsBet (ASX: PBH) are two standout small-caps in Australia’s gambling industry, showcasing strong growth potential. Our latest article highlights their strategies and market opportunities. Read more here: https://lnkd.in/djyd5-_5 Disc: ASX: BBT and ASX: PBH are held in TAMIM Portfolios as at date of article publication. Holdings can change substantially at any given time. #ASX #ASXSmallCap #SmallCap #Stocktowatch #stockwatchlist #stockinsights #Investing #SmallCaps #investing
The Gambling Industry Part 2: ASX Small-Caps to Watch
https://tamim.com.au
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Some more interesting insights from Granate Asset Management
Paul Bosman and Catherine Blersch, discuss the growth of online gambling and the possible impact on physical casinos, and delve deeper into the home improvement sector in the US, where Lowe’s has presented a distinct opportunity. Our sell and buy decisions this quarter, both tie back to two truths we look to harvest in markets: emotions and competitive advantage. Read more here: https://lnkd.in/d3TeJrQs #investing #assetmanagement #relentlesslycommitted #multiasset #growandprotect #competitiveadvantage
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To provide a seamless player experience, operators need to ensure their casino’s machines stay up and running - https://lnkd.in/eG-mB3kS One way this can be achieved is by minimizing slot machine downtime. This is a particularly irritating issue for casinos, as it can lead to heavy financial ramifications, affecting both revenue streams and player experience. By offering cashless payments, casinos can reduce machine downtime caused by cash jams, providing your casino with more profitability and your players with a frustration-free experience. #Casinos #Cashless #PaymentSolutions
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